55-10A-15. Powers of custodian.
A custodian, acting in a custodial capacity, has all the rights, powers, and authority over custodial property that unmarried adult owners have over their own property, but a custodian may exercise those rights, powers, and authority in that capacity only. This section does not relieve a custodian from liability for breach of §55-10A-14.
At any time, a custodian may transfer part or all of a custodial property to a qualified minor's trust without a court order. Such transfer terminates the custodianship to the extent of the transfer.
Source: SL 1986, ch 409, §15; SL 2008, ch 257, §14.
Structure South Dakota Codified Laws
Title 55 - Fiduciaries and Trusts
Chapter 10A - Uniform Transfers To Minors Act
Section 55-10A-1 - Definitions.
Section 55-10A-2 - Scope and jurisdiction.
Section 55-10A-3 - Nomination of custodian.
Section 55-10A-4 - Transfer by gift or exercise of power of appointment.
Section 55-10A-5 - Transfer authorized by will or trust.
Section 55-10A-6 - Other transfer by fiduciary.
Section 55-10A-7 - Transfer by obligor.
Section 55-10A-8 - Receipt for custodial property.
Section 55-10A-9 - Manner of creating custodial property and effecting transfer.
Section 55-10A-10 - Designation of initial custodian.
Section 55-10A-12 - Single custodianship.
Section 55-10A-13 - Validity and effect of transfer.
Section 55-10A-14 - Care of custodial property.
Section 55-10A-15 - Powers of custodian.
Section 55-10A-16 - Use of custodial property.
Section 55-10A-17 - Custodian's expenses, compensation, and bond.
Section 55-10A-18 - Exemption of third person from liability.
Section 55-10A-19 - Liability to third persons.
Section 55-10A-21 - Accounting by and determination of liability of custodian.
Section 55-10A-22 - Termination of custodianship.
Section 55-10A-23 - Applicability.
Section 55-10A-24 - Effect on existing custodianships.