A transfer may be made only for one minor, and up to two persons may be joint custodians. All custodial property held under this chapter by the same custodian or joint custodians for the benefit of the same minor constitutes a single custodianship. Unless otherwise specified in any document creating the custodial property, each joint custodian shall have full power and authority to act alone with respect to the custodial property. If either joint custodian resigns, dies, becomes incapacitated, or is removed, then the remaining joint custodian shall become sole custodian.
1988, c. 516, § 31-46; 2006, c. 657; 2012, c. 614.
Structure Code of Virginia
Title 64.2 - Wills, Trusts, and Fiduciaries
Chapter 19 - Virginia Uniform Transfers to Minors Act
§ 64.2-1901. Scope and jurisdiction
§ 64.2-1902. Nomination of custodian
§ 64.2-1903. Transfer by gift or exercise of power of appointment
§ 64.2-1904. Transfer authorized by will or trust
§ 64.2-1905. Other transfer by fiduciary
§ 64.2-1906. Transfer by obligor
§ 64.2-1907. Receipt for custodial property
§ 64.2-1909. Single and joint custodians
§ 64.2-1910. Validity and effect of transfer
§ 64.2-1911. Care of custodial property; duties of custodian
§ 64.2-1912. Powers of custodian
§ 64.2-1913. Use of custodial property
§ 64.2-1914. Custodian's expenses, compensation, and bond
§ 64.2-1915. Exemption of third person from liability
§ 64.2-1916. Liability to third persons
§ 64.2-1918. Accounting by and determination of liability of custodian
§ 64.2-1919. Termination of custodianship