565B.11 Validity and effect of transfer.
1. The validity of a transfer made in a manner prescribed in this chapter is not affected by:
a. The failure of the transferor to comply with section 565B.9, subsection 3, concerning possession and control;
b. 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 565B.9, subsection 1; or
c. The death or incapacity of a person nominated under section 565B.3 or designated under section 565B.9 as custodian or the disclaimer of the office by that person.
2. A transfer made pursuant to section 565B.9 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 any right, power, duty, or authority with respect to the custodial property except as provided in this chapter.
3. By making a transfer, the transferor incorporates in the disposition all the provisions of this chapter and grants to the custodian and to any third person dealing with a person designated as custodian the respective powers, rights, and immunities provided in this chapter.
86 Acts, ch 1035, §11
Structure Iowa Code
Chapter 565B - TRANSFERS TO MINORS
Section 565B.2 - Scope and jurisdiction.
Section 565B.3 - Nomination of custodian.
Section 565B.4 - Transfer by gift or exercise of power of appointment.
Section 565B.5 - Transfer authorized by will or trust.
Section 565B.6 - Other transfers by fiduciary.
Section 565B.7 - Transfer by obligor.
Section 565B.8 - Receipt for custodial property.
Section 565B.10 - Single custodianship.
Section 565B.11 - Validity and effect of transfer.
Section 565B.12 - Care of custodial property.
Section 565B.13 - Powers of custodian.
Section 565B.14 - Use of custodial property.
Section 565B.15 - Custodian’s expenses, compensation, and bond.
Section 565B.16 - Exemption of third person from liability.
Section 565B.17 - Liability to third persons.
Section 565B.19 - Accounting by and determination of liability of custodian.
Section 565B.20 - Termination of custodianship.
Section 565B.21 - Applicability.
Section 565B.22 - Effect on existing custodianships.
Section 565B.23 - Uniformity of application and construction.