55-10A-15. Powers of custodian.
89 words·~1 min read·
/sd/title-55/chapter-55-10/55-10a-15·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
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.