(a) Sections 529.01 to 529.19 apply to a transfer or declaration creating a custodial trust that refers to sections 529.01 to 529.19 if, at the time of the transfer or declaration, the transferor, beneficiary, or custodial trustee is a resident of or has its principal place of business in this state or custodial trust property is located in this state. The custodial trust remains subject to sections 529.01 to 529.19 despite a later change in residence or principal place of business of the transferor, beneficiary, or custodial trustee, or removal of the custodial trust property from this state.
(b) A transfer made pursuant to an act of another state substantially similar to sections 529.01 to 529.19 is governed by the law of that state and may be enforced in this state.
1990 c 476 s 18
Structure Minnesota Statutes
Chapters 524 - 532 — Probate; Property; Estates; Guardianships; Anatomical Gifts
Chapter 529 — Uniform Custodial Trust Act
Section 529.02 — Custodial Trust; General.
Section 529.03 — Custodial Trustee For Future Payment Or Transfer.
Section 529.04 — Form And Effect Of Receipt And Acceptance By Custodial Trustee, Jurisdiction.
Section 529.05 — Multiple Beneficiaries; Separate Custodial Trusts; Survivorship.
Section 529.06 — General Duties Of Custodial Trustee.
Section 529.07 — General Powers Of Custodial Trustee.
Section 529.08 — Use Of Custodial Trust Property.
Section 529.09 — Determination Of Incapacity; Effect.
Section 529.10 — Exemption Of Third Person From Liability.
Section 529.11 — Liability To Third Person.
Section 529.13 — Expenses, Compensation, And Bond Of Custodial Trustee.
Section 529.15 — Limitations Of Action Against Custodial Trustee.
Section 529.16 — Distribution On Termination.
Section 529.17 — Methods And Forms For Creating Custodial Trusts.