Sec. 28. (a) A custodian acting in a custodial capacity has all the rights, powers, and authority over custodial property that an unmarried adult owner has over the adult owner's own property, but a custodian may exercise those rights, powers, and authority in a custodial capacity only.
(b) This section does not relieve a custodian from liability for breach of the requirements of section 27 of this chapter.
As added by P.L.267-1989, SEC.2.
Structure Indiana Code
Title 30. Trusts and Fiduciaries
Chapter 8.5. Indiana Uniform Transfers to Minors Act
30-2-8.5-2. "Benefit Plan" 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
30-2-8.5-12. "Personal Representative" 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
30-2-8.5-25. 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
30-2-8.5-34. Accounting by and Determination of Liability of Custodian
30-2-8.5-35. Termination of Custodianship
30-2-8.5-37. Effect on Existing Custodianships