reglab/housing_qa huggingface dataset:
MS Code § 91-20-9 (2020)
2020 Mississippi Code|Title 91 - Trusts and Estates|Chapter 20 - Transfers to Minors|§ 91-20-9. Transfer by irrevocable gift or exercise of appointment power in favor of custodian

 A person may make a transfer by irrevocable gift to, or the irrevocable exercise of a power of appointment in favor of, a custodian for the benefit of a minor pursuant to Section 91-20-19.
MS Code § 91-20-11 (2020)
2020 Mississippi Code|Title 91 - Trusts and Estates|Chapter 20 - Transfers to Minors|§ 91-20-11. Transfer to custodian by personal representative or trustee as authorized by will or trust; designation of custodian by personal representative or trustee

  A personal representative or trustee may make an irrevocable transfer pursuant to Section 91-20-19 to a custodian for the benefit of a minor as authorized in the governing will or trust.   If the testator or settlor has nominated a custodian under Section 91-20-7 to receive the custodial property, the transfer must be made to that person.   If the testator or settlor has not nominated a custodian under Section 91-20-7, or all persons so nominated as custodian die before the transfer or are unable, decline or are ineligible to serve, the personal representative or the trustee, as the case may be, shall designate the custodian from among those eligible to serve as custodian for property of that kind under Section 91-20-19(1).
MS Code § 91-20-13 (2020)
2020 Mississippi Code|Title 91 - Trusts and Estates|Chapter 20 - Transfers to Minors|§ 91-20-13. Transfer by personal representative, trustee, or conservator to another adult or trust company as custodian without authorization by will or trust; prerequisites

  Subject to subsection (3), a personal representative or trustee may make an irrevocable transfer to another adult or trust company as custodian for the benefit of a minor pursuant to Section 91-20-19, in the absence of a will or under a will or trust that does not contain an authorization to do so.   Subject to subsection (3), a conservator may make an irrevocable transfer to another adult or trust company as custodian for the benefit of the minor pursuant to Section 91-20-19.   A transfer under subsection (1) or (2) may be made only if (a) the personal representative, trustee or conservator considers the transfer to be in the best interest of the minor, (b) the transfer is not prohibited by or inconsistent with provisions of the applicable will, trust agreement or other governing instrument, and (c) the transfer is authorized by the court if it exceeds Ten Thousand Dollars ($10,000.00) in value.
MS Code § 91-20-15 (2020)
2020 Mississippi Code|Title 91 - Trusts and Estates|Chapter 20 - Transfers to Minors|§ 91-20-15. Transfer to custodian by one holding property of or owing debt to minor; designation of custodian

  Subject to subsections (2) and (3), a person not subject to Section 91-20-11 or 91-20-13 who holds property of or owes a liquidated debt to a minor not having a conservator may make an irrevocable transfer to a custodian for the benefit of the minor pursuant to Section 91-20-19.   If a person having the right to do so under Section 91-20-7 has nominated a custodian under that section to receive the custodial property, the transfer must be made to that person.   If no custodian has been nominated under Section 91-20-7, or all persons so nominated as custodian die before the transfer or are unable, decline or are ineligible to serve, a transfer under this section may be made to an adult member of the minor's family or to a trust company unless the property exceeds Ten Thousand Dollars ($10,000.00) in value.
MS Code § 91-20-17 (2020)
2020 Mississippi Code|Title 91 - Trusts and Estates|Chapter 20 - Transfers to Minors|§ 91-20-17. Written receipt from custodian; effect

 A written acknowledgment of delivery by a custodian constitutes a sufficient receipt and discharge for custodial property transferred to the custodian pursuant to this chapter.
MS Code § 91-20-21 (2020)
2020 Mississippi Code|Title 91 - Trusts and Estates|Chapter 20 - Transfers to Minors|§ 91-20-21. One custodian for one minor

 A transfer may be made only for one (1) minor, and only one (1) person may be the custodian. All custodial property held under this chapter by the same custodian for the benefit of the same minor constitutes a single custodianship.
MS Code § 91-20-23 (2020)
2020 Mississippi Code|Title 91 - Trusts and Estates|Chapter 20 - Transfers to Minors|§ 91-20-23. Factors not affecting validity of transfer; powers and duties of custodian unalterable

  The validity of a transfer made in a manner prescribed in this chapter is not affected by:   Failure of the transferor to comply with Section 91-20-19(3) concerning possession and control;   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 91-20-19(1); or   Death or incapacity of a person nominated under Section 91-20-7 or designated under Section 91-20-19 as custodian or the disclaimer of the office by that person.     A transfer made pursuant to Section 91-20-19 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.   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.
MS Code § 91-20-25 (2020)
2020 Mississippi Code|Title 91 - Trusts and Estates|Chapter 20 - Transfers to Minors|§ 91-20-25. Powers and duties of custodian; standard of care; records

  A custodian shall:   Take control of custodial property;   Register or record title to custodial property if appropriate; and   Collect, hold, manage, invest and reinvest custodial property.     In dealing with custodial property, a custodian shall observe the standard of care that would be observed by a prudent person dealing with property of another and is not limited by any other statute restricting investments by fiduciaries. If a custodian has a special skill or expertise or is named custodian on the basis of representations of a special skill or expertise, the custodian shall use that skill or expertise. However, a custodian, in the custodian's discretion and without liability to the minor or the minor's estate, may retain any custodial property received from a transferor.   A custodian may invest in or pay premiums on life insurance or endowment policies on (a) the life of the minor only if the minor or the minor's estate is the sole beneficiary, or (b) the life of another person in whom the minor has an insurable interest only to the extent that the minor, the minor's estate, or the custodian in the capacity of custodian, is the irrevocable beneficiary.   A custodian at all times shall keep custodial property separate and distinct from all other property in a manner sufficient to identify it clearly as custodial property of the minor. Custodial property consisting of an undivided interest is so identified if the minor's interest is held as a tenant in common and is fixed. Custodial property subject to recordation is so identified if it is recorded, and custodial property subject to registration is so identified if it is either registered, or held in an account designated, in the name of the custodian, followed in substance by the words: "as a custodian for_______________(name of minor) under the Mississippi Uniform Transfers to Minors Act."   A custodian shall keep records of all transactions with respect to custodial property, including information necessary for the preparation of the minor's tax returns, and shall make them available for inspection at reasonable intervals by a parent or legal representative of the minor or by the minor if the minor has attained the age of fourteen (14) years.
MS Code § 91-20-27 (2020)
2020 Mississippi Code|Title 91 - Trusts and Estates|Chapter 20 - Transfers to Minors|§ 91-20-27. Custodian's exercise of powers and authority over custodial property

  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 Section 91-20-25.
MS Code § 91-20-29 (2020)
2020 Mississippi Code|Title 91 - Trusts and Estates|Chapter 20 - Transfers to Minors|§ 91-20-29. Delivery of property or money to minor; expenditure for benefit of minor; conditions; court order

  A custodian may deliver or pay to the minor or expend for the minor's benefit so much of the custodial property as the custodian considers advisable for the use and benefit of the minor, without court order and without regard to (a) the duty or ability of the custodian personally or of any other person to support the minor, or (b) any other income or property of the minor which may be applicable or available for that purpose.   On petition of an interested person or the minor if the minor has attained the age of fourteen (14) years, the court may order the custodian to deliver or pay to the minor or expend for the minor's benefit so much of the custodial property as the court considers advisable for the use and benefit of the minor.   A delivery, payment or expenditure under this section is in addition to, not in substitution for, and does not affect any obligation of a person to support the minor.
MS Code § 91-20-31 (2020)
2020 Mississippi Code|Title 91 - Trusts and Estates|Chapter 20 - Transfers to Minors|§ 91-20-31. Reimbursement of custodian for expenses; compensation of custodian; bond unnecessary

  A custodian is entitled to reimbursement from custodial property for reasonable expenses incurred in the performance of the custodian's duties.   Except for one who is a transferor under Section 91-20-9, a custodian has a noncumulative election during each calendar year to charge reasonable compensation for services performed during that year.   Except as provided in Section 91-20-37(6), a custodian need not give a bond.
MS Code § 91-20-33 (2020)
2020 Mississippi Code|Title 91 - Trusts and Estates|Chapter 20 - Transfers to Minors|§ 91-20-33. Good faith reliance on capacity of purported custodian

 A third person in good faith and without court order may act on the instructions of or otherwise deal with any person purporting to make a transfer or purporting to act in the capacity of a custodian and, in the absence of knowledge, is not responsible for determining:   The validity of the purported custodian's designation;   The propriety of, or the authority under this chapter for, any act of the purported custodian;   The validity or propriety under this chapter of any instrument or instructions executed or given either by the person purporting to make a transfer or by the purported custodian; or   The propriety of the application of any property of the minor delivered to the purported custodian.
MS Code § 91-20-35 (2020)
2020 Mississippi Code|Title 91 - Trusts and Estates|Chapter 20 - Transfers to Minors|§ 91-20-35. Assertion of claim against custodial property; personal liability of custodian or minor

  A claim based on (a) a contract entered into by a custodian acting in a custodial capacity, (b) an obligation arising from the ownership or control of custodial property, or (c) a tort committed during the custodianship, may be asserted against the custodial property by proceeding against the custodian in the custodial capacity, whether or not the custodian or the minor is personally liable therefor.   A custodian is not personally liable:   On a contract properly entered into in the custodial capacity unless the custodian fails to reveal that capacity and to identify the custodianship in the contract; or   For an obligation arising from control of custodial property or for a tort committed during the custodianship unless the custodian is personally at fault.     A minor is not personally liable for an obligation arising from ownership of custodial property or for a tort committed during the custodianship unless the minor is personally at fault.
MS Code § 91-20-39 (2020)
2020 Mississippi Code|Title 91 - Trusts and Estates|Chapter 20 - Transfers to Minors|§ 91-20-39. Petition for accounting or determination of responsibility for claims; accounting upon removal of custodian

  A minor who has attained the age of fourteen (14) years, the minor's guardian of the person or legal representative, an adult member of the minor's family, a transferor or a transferor's legal representative may petition the court (a) for an accounting by the custodian or the custodian's legal representative, or (b) for a determination of responsibility, as between the custodial property and the custodian personally, for claims against the custodial property unless the responsibility has been adjudicated in an action under Section 91-20-35 to which the minor or the minor's legal representative was a party.   A successor custodian may petition the court for an accounting by the predecessor custodian.   The court, in a proceeding under this chapter or in any other proceeding, may require or permit the custodian or the custodian's legal representative to account.   If a custodian is removed under Section 91-20-37(6), the court shall require an accounting and order delivery of the custodial property and records to the successor custodian and the execution of all instruments required for transfer of the custodial property.
MS Code § 91-20-41 (2020)
2020 Mississippi Code|Title 91 - Trusts and Estates|Chapter 20 - Transfers to Minors|§ 91-20-41. Time for transfer of custodial property to minor or minor's estate

 The custodian shall transfer in an appropriate manner the custodial property to the minor or to the minor's estate upon the earlier of:   The minor's attainment of twenty-one (21) years of age with respect to custodial property transferred under Section 91-20-9 or 91-20-11;   The minor's attainment of eighteen (18) years of age with respect to custodial property transferred under Section 91-20-13 or 91-20-15; or   The minor's death.
MS Code § 91-20-43 (2020)
2020 Mississippi Code|Title 91 - Trusts and Estates|Chapter 20 - Transfers to Minors|§ 91-20-43. Applicability of chapter to certain transfers

 This chapter applies to a transfer within the scope of Section 91-20-5 made after its effective date if:   The transfer purports to have been made under the Mississippi Uniform Gifts to Minors Law, Sections 91-19-1 through 91-19-19; or   The instrument by which the transfer purports to have been made uses in substance the designation "as custodian under the Uniform Gifts to Minors Act" or "as custodian under the Uniform Transfers to Minors Act" of any other state, and the application of this chapter is necessary to validate the transfer.
MS Code § 91-20-45 (2020)
2020 Mississippi Code|Title 91 - Trusts and Estates|Chapter 20 - Transfers to Minors|§ 91-20-45. Validation of transfers predating chapter; application of chapter to prior transfers

  Any transfer of custodial property as now defined in this chapter made before January 1, 1995, is validated notwithstanding that there was no specific authority in the Mississippi 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.   This chapter applies to all transfers made before January 1, 1995, in a manner and form prescribed in the Mississippi Uniform Gifts to Minors Law except insofar as the application impairs constitutionally vested rights or extends the duration of custodianships in existence on January 1, 1995.
MS Code § 91-20-47 (2020)
2020 Mississippi Code|Title 91 - Trusts and Estates|Chapter 20 - Transfers to Minors|§ 91-20-47. Construction of chapter

 This chapter shall be applied and construed to effectuate its general purpose to make uniform the law with respect to the subject of this chapter among states enacting it.
MS Code § 91-20-49 (2020)
2020 Mississippi Code|Title 91 - Trusts and Estates|Chapter 20 - Transfers to Minors|§ 91-20-49. Severability of provisions of chapter

 If any provisions of this chapter or its application to any person or circumstance is held invalid, the invalidity does not affect other provisions or applications of this chapter which can be given effect without the invalid provision or application, and to this end provisions of this chapter are severable.
MS Code § 91-21-1 (2020)
2020 Mississippi Code|Title 91 - Trusts and Estates|Chapter 21 - Uniform Transfer-on-Death Security Registration Act|§ 91-21-1. Short title

 This chapter shall be known and may be cited as the "Mississippi Uniform Transfer-on-Death Security Registration Act."
MS Code § 91-21-3 (2020)
2020 Mississippi Code|Title 91 - Trusts and Estates|Chapter 21 - Uniform Transfer-on-Death Security Registration Act|§ 91-21-3. Definitions

 In this chapter, unless the context otherwise requires:   "Beneficiary form" means a registration of a security which indicates the present owner of the security and the intention of the owner regarding the person who will become the owner of the security upon the death of the owner.   "Devisee" means any person designated in a will to receive a disposition of real or personal property.   "Heirs" mean those persons, including the surviving spouse, who are entitled under the statutes of intestate succession to the property of a decedent.   "Person" means an individual, a corporation, an organization or other legal entity.   "Personal representative" includes executor, administrator, successor personal representative, special administrator, and persons who perform substantially the same function under the law governing their status.   "Property" includes both real and personal property or any interest therein and means anything that may be the subject of ownership.   "Register," including its derivatives, means to issue a certificate showing the ownership of a certificated security or, in the case of an uncertificated security, to initiate or transfer an account showing ownership of securities.   "Registering entity" means a person who originates or transfers a security title by registration, and includes a broker maintaining security accounts for customers and a transfer agent or other person acting for or as an issuer of securities.   "Security" means a share, participation, or other interest in property, in a business or in an obligation of an enterprise or other issuer and includes a certificated security, an uncertificated security, and a security account.   "Security account" means:   A reinvestment account associated with a security, a securities account with a broker, a cash balance in a brokerage account, cash, cash equivalents, interest, earnings, or dividends earned or declared on a security in an account, a reinvestment account or a brokerage account, whether or not credited to the account before the owner's death;   An investment or custody account with a trust company or trust division of a bank with trust powers, including the securities in the account, a cash balance in the account and cash, cash equivalents, interest, earnings or dividends earned or declared on a security in the account, whether or not credited to the account before the owner's death; or   A cash balance or other property held for or due to the owner of a security as a replacement for or product of an account security, whether or not credited to the account before the owner's death.   "State" includes any state of the United States, the District of Columbia, the Commonwealth of Puerto Rico, and any territory or possession subject to the legislative authority of the United States.
MS Code § 91-21-5 (2020)
2020 Mississippi Code|Title 91 - Trusts and Estates|Chapter 21 - Uniform Transfer-on-Death Security Registration Act|§ 91-21-5. Registration in beneficiary form; sole or joint tenancy ownership

 Only individuals whose registration of a security shows sole ownership by one (1) individual or multiple ownership by two (2) or more with right of survivorship, rather than as tenants in common, may obtain registration in beneficiary form. Multiple owners of a security registered in beneficiary form, hold as joint tenants with right of survivorship, as tenants by the entireties, or as owners of community property held in survivorship form, and not as tenants in common.
MS Code § 91-21-7 (2020)
2020 Mississippi Code|Title 91 - Trusts and Estates|Chapter 21 - Uniform Transfer-on-Death Security Registration Act|§ 91-21-7. Registration in beneficiary form; applicable law

 A security may be registered in beneficiary form if the form is authorized by this or a similar statute of the state of organization of the issuer or registering entity, the location of the registering entity's principal office, the office of its transfer agent or its office making the registration, or by this or a similar statute of the law of the state listed as the owner's address at the time of registration. A registration governed by the law of a jurisdiction in which this or similar legislation is not in force or was not in force when a registration in beneficiary form was made is nevertheless presumed to be valid and authorized as a matter of contract law.
MS Code § 91-21-9 (2020)
2020 Mississippi Code|Title 91 - Trusts and Estates|Chapter 21 - Uniform Transfer-on-Death Security Registration Act|§ 91-21-9. Origination of registration in beneficiary form

 A security, whether evidenced by certificate or account, is registered in beneficiary form when the registration includes a designation of a beneficiary to take the ownership at the death of the owner or the deaths of all multiple owners.
MS Code § 91-21-11 (2020)
2020 Mississippi Code|Title 91 - Trusts and Estates|Chapter 21 - Uniform Transfer-on-Death Security Registration Act|§ 91-21-11. Form of registration in beneficiary form

 Registration in beneficiary form may be shown by the words "transfer on death" or the abbreviation "TOD," or by the words "pay on death" or the abbreviation "POD," after the name of the registered owner and before the name of a beneficiary.
MS Code § 91-21-13 (2020)
2020 Mississippi Code|Title 91 - Trusts and Estates|Chapter 21 - Uniform Transfer-on-Death Security Registration Act|§ 91-21-13. Effect of registration in beneficiary form

 The designation of a TOD beneficiary on a registration in beneficiary form has no effect on ownership until the owner's death. A registration of a security in beneficiary form may be cancelled or changed at any time by the sole owner or all the surviving owners without the consent of the beneficiary.
MS Code § 91-21-15 (2020)
2020 Mississippi Code|Title 91 - Trusts and Estates|Chapter 21 - Uniform Transfer-on-Death Security Registration Act|§ 91-21-15. Ownership on death of owner

 On death of a sole owner or the last to die of all multiple owners, ownership of securities registered in beneficiary form passes to the beneficiary or beneficiaries who survive all owners. On proof of death of all owners and compliance with any applicable requirements of the registering entity, a security registered in beneficiary form may be reregistered in the name of the beneficiary or beneficiaries who survived the death of all owners. Until division of the security after the death of all owners, multiple beneficiaries surviving the death of all owners hold their interests as tenants in common. If no beneficiary survives the death of all owners, the security belongs to the estate of the deceased sole owner or the estate of the last to die of all multiple owners.