(a) Any transfer of custodial property as now defined in this subtitle made before July 1, 1989 is validated notwithstanding that there was no specific authority in the Maryland Uniform Gifts to Minors Act for the coverage of custodial property of that kind or for a transfer from that source at the time the transfer was made.
(b) This subtitle applies to all transfers made before July 1, 1989 in a manner and form prescribed in the Maryland Uniform Gifts to Minors Act, except insofar as the application impairs constitutionally vested rights or extends the duration of custodianships in existence on the effective date of this subtitle.
(c) With respect to the age of a minor for whom custodial property is held, this subtitle does not apply to custodial property held in a custodianship that terminated because of the minor’s attainment of the age of 18 before July 1, 1989.
Structure Maryland Statutes
Title 13 - Protection of Minors, Disabled Persons, Susceptible Adults, and Older Adults
Subtitle 3 - Maryland Uniform Transfers to Minors Act
Section 13-301 - Estates and Trusts
Section 13-302 - Law Governing
Section 13-303 - Contingent Transfers
Section 13-304 - Irrevocable Transfer to Custodian by Individual
Section 13-305 - Irrevocable Transfer by Personal Representative or Trustee
Section 13-307 - Irrevocable Transfer by Other Persons Holding Property or Owing Debt to Minor
Section 13-308 - Receipt and Discharge
Section 13-309 - Creation of Custodial Property; When Transfer Made
Section 13-310 - Nature of Custodianship
Section 13-311 - Effect of Transfer
Section 13-312 - Duties and Powers of Custodian
Section 13-313 - Rights of Custodian; Liability
Section 13-314 - Delivery or Payment to Minor or for Minor's Use and Benefit
Section 13-315 - Compensation of Custodian; Bond
Section 13-316 - Liability of Third Persons Dealing With Custodian
Section 13-317 - Claims Against Custodial Property
Section 13-320 - Transfer of Property to Minor
Section 13-321 - Applicability of Subtitle
Section 13-322 - Validation of Prior Transfers