(a) A custodial trustee, acting in a fiduciary capacity, has all the rights and powers over custodial trust property which an unmarried adult owner has over individually owned property, but a custodial trustee may exercise those rights and powers in a fiduciary capacity only.
(b) This section does not relieve a custodial trustee from liability for a violation of section 19-1107.
(July 23, 2002, D.C. Law 14-177, § 2(b), 49 DCR 5092.)
This section is referenced in § 19-1106.
Structure District of Columbia Code
Title 19 - Descent, Distribution, and Trusts. [Enacted title]
Chapter 11 - Custodial Trusts; Uniform Law
§ 19–1102. Custodial trust; general
§ 19–1103. Custodial trustee for future payment or transfer
§ 19–1104. Form and effect of receipt and acceptance by custodial trustee; jurisdiction
§ 19–1105. Transfer to custodial trustee by fiduciary or obligor; facility of payment
§ 19–1106. Multiple beneficiaries; separate custodial trusts; survivorship
§ 19–1107. General duties of custodial trustee
§ 19–1108. General powers of custodial trustee
§ 19–1109. Use of custodial trust property
§ 19–1110. Determination of incapacity; effect
§ 19–1111. Exemption of third person from liability
§ 19–1112. Liability to third person
§ 19–1114. Expenses, compensation, and bond of custodial trustee
§ 19–1116. Limitations of action against custodial trustee
§ 19–1117. Distribution on termination