Indiana Code
Chapter 8.5. Indiana Uniform Transfers to Minors Act
30-2-8.5-26. Validity and Effect of Transfer

Sec. 26. (a) The validity of a transfer made in a manner prescribed in this chapter is not affected by:
(1) the failure of the transferor to comply with section 24(c) of this chapter concerning possession and control;
(2) the designation of an ineligible custodian, except designation of the transferor in the case of property for which the transferor is ineligible to serve as custodian under section 24(a) of this chapter; or
(3) the death or incapacity of a person nominated under section 18 of this chapter or designated under section 24 of this chapter as custodian or the disclaimer of the office by that person.
(b) A transfer made under section 24 of this chapter is irrevocable, and the custodial property is indefeasibly vested in the minor, but the custodian has all the rights, powers, duties, and authority provided in this chapter and neither the minor nor the minor's legal representative has a right, power, duty, or authority with respect to the custodial property except as provided in this chapter.
(c) By making a transfer, the transferor incorporates in the disposition all the provisions of this chapter, and grants to the custodian, and to a third person dealing with a person designated as custodian, the respective powers, rights, and immunities provided in this chapter.
As added by P.L.267-1989, SEC.2.

Structure Indiana Code

Indiana Code

Title 30. Trusts and Fiduciaries

Article 2. General Provisions

Chapter 8.5. Indiana Uniform Transfers to Minors Act

30-2-8.5-1. "Adult" Defined

30-2-8.5-2. "Benefit Plan" Defined

30-2-8.5-3. "Broker" Defined

30-2-8.5-4. "Custodial Property" Defined

30-2-8.5-5. "Custodian" Defined

30-2-8.5-6. "Financial Institution" Defined

30-2-8.5-7. "Guardian" Defined

30-2-8.5-8. "Legal Representative" Defined

30-2-8.5-9. "Members of the Minor's Family" Defined

30-2-8.5-10. "Minor" Defined

30-2-8.5-11. "Person" Defined

30-2-8.5-12. "Personal Representative" Defined

30-2-8.5-13. "State" Defined

30-2-8.5-14. "Transfer" Defined

30-2-8.5-15. "Transferor" Defined

30-2-8.5-16. "Trust Company" Defined

30-2-8.5-17. Scope and Jurisdiction

30-2-8.5-18. Nomination of Custodian

30-2-8.5-19. Transfer by Gift or Exercise of Power of Appointment

30-2-8.5-20. Transfer Authorized by Will or Trust; Designation of Custodian

30-2-8.5-21. Other Transfers by Fiduciary; Guardian as Custodian

30-2-8.5-22. Transfer by Obligor

30-2-8.5-23. Receipt for Custodial Property

30-2-8.5-24. Manner of Creating Custodial Property and Effecting Transfer; Designation of Initial Custodian; Control

30-2-8.5-25. Single Custodianship

30-2-8.5-26. Validity and Effect of Transfer

30-2-8.5-27. Care of Custodial Property

30-2-8.5-28. Powers of Custodian

30-2-8.5-29. Use of Custodial Property; Transfer of Property to Trust

30-2-8.5-30. Custodian's Expenses, Compensation, and Bond

30-2-8.5-31. Exemption of Third Person From Liability

30-2-8.5-32. Liability to Third Person

30-2-8.5-33. Renunciation, Resignation, Death, or Removal of Custodian; Designation of Successor Custodian

30-2-8.5-34. Accounting by and Determination of Liability of Custodian

30-2-8.5-35. Termination of Custodianship

30-2-8.5-36. Applicability

30-2-8.5-37. Effect on Existing Custodianships

30-2-8.5-38. Uniformity of Application and Construction

30-2-8.5-39. Severability

30-2-8.5-40. Written Election Concerning Custodial Property