Virginia Code 64.2-1918: Accounting by and determination of liability of custodian
A. A transferor, the legal representative of a transferor, an adult member of the minor‘s family, a guardian of the person of the minor, the conservator of the minor, or the minor, if the minor has attained the age of 14 years, may petition the court (i) for an accounting by the custodian or the custodian’s legal representative or (ii) for a determination of responsibility, as between the custodial property and the custodian personally, for claims against the custodial property unless the responsibility has been adjudicated in an action under § 64.2-1916 to which the minor or the minor’s legal representative was a party.
Terms Used In Virginia Code 64.2-1918
- Adult: means an individual who attained the age of 18 years. See Virginia Code 64.2-1900
- Conservator: means a person appointed or qualified by a court to act as general, limited, or temporary guardian of a minor's property or a person legally authorized to perform substantially the same functions. See Virginia Code 64.2-1900
- Court: means the circuit court having appropriate jurisdiction. 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
- Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
- Legal representative: means an individual's personal representative or conservator. See Virginia Code 64.2-1900
- Minor: means an individual who has not attained the age of 18 years. See Virginia Code 64.2-1900
- Person: means an individual, corporation, organization, or other legal entity. See Virginia Code 64.2-1900
- Transfer: means a transaction that creates custodial property under § Virginia Code 64.2-1900
- Transferor: means a person who makes a transfer under this chapter. See Virginia Code 64.2-1900
B. A successor custodian may petition the court for an accounting by the predecessor custodian.
C. The court, in a proceeding under this chapter or in any other proceeding, may require or permit the custodian or the custodian’s legal representative to account.
D. If a custodian is removed under subsection F of § 64.2-1917, the court shall require an accounting and order delivery of the custodial property and records to the successor custodian and the execution of all instruments required for transfer of the custodial property.
1988, c. 516, § 31-55; 2012, c. 614.