Virginia Code 64.2-1912: Powers of custodian
Current as of: 2024 | Check for updates
|
Other versions
A custodian, acting in a custodial capacity, has all the rights, powers, and authority over custodial property that unmarried adult owners have over their own property, which shall include but not be limited to those powers set forth in § 64.2-105 as of the date the custodian acts, but a custodian may exercise such rights, powers, and authority in that capacity only. However, this section does not relieve a custodian from liability for breach of a duty imposed under § 64.2-1911.
Terms Used In Virginia Code 64.2-1912
- Adult: means an individual who attained the age of 18 years. See Virginia Code 64.2-1900
- Custodial property: means (i) any interest in property transferred to a custodian under this chapter and (ii) the income from and proceeds of that interest in property. See Virginia Code 64.2-1900
- Custodian: means a person so designated under § Virginia Code 64.2-1900
1988, c. 516, § 31-49; 2012, c. 614.