reglab/housing_qa huggingface dataset:
AR Code § 9-26-207 (2020)
2020 Arkansas Code|Title 9 - Family Law|Subtitle 3 - Minors|Chapter 26 - Rights Respecting Business and Property|Subchapter 2 - Arkansas Uniform Transfers to Minors Act|§ 9-26-207. Transfer by obligor

 (a) Subject to subsections (b) and (c) of this section, a person not subject to § 9-26-205 or § 9-26-206 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 § 9-26-209.  (b) If a person having the right to do so under § 9-26-203 has nominated a custodian under that section to receive the custodial property, the transfer must be made to that person.  (c)  (1) If a custodian has not been nominated under § 9-26-203, or all nominated custodians die before the transfer or are unable, decline, or are ineligible to serve as a custodian, a transfer under this section may be made on behalf of a minor beneficiary to the minor beneficiary's parent or legal guardian, or to a trust company unless the property exceeds ten thousand dollars ($10,000) in value except as provided under subdivision (c)(2) of this section.  (2) A survivor benefit due to a minor by the Arkansas Teacher Retirement System under § 24-7-710(c) may be paid on behalf of a minor beneficiary to the minor beneficiary's parent, legal guardian, or legal custodian or to a trust company unless the value of the survivor benefit exceeds twenty thousand dollars ($20,000) per year.  (3) The Arkansas Teacher Retirement System is not liable for any misuse of funds paid on behalf of a minor beneficiary to a minor beneficiary's parent, legal guardian, or legal custodian under subdivision (c)(2) of this section.
AR Code § 9-26-208 (2020)
2020 Arkansas Code|Title 9 - Family Law|Subtitle 3 - Minors|Chapter 26 - Rights Respecting Business and Property|Subchapter 2 - Arkansas Uniform Transfers to Minors Act|§ 9-26-208. Receipt for custodial property

 A written acknowledgment of delivery by a custodian shall constitute a sufficient receipt and discharge for custodial property transferred to the custodian pursuant to this subchapter.
AR Code § 9-26-210 (2020)
2020 Arkansas Code|Title 9 - Family Law|Subtitle 3 - Minors|Chapter 26 - Rights Respecting Business and Property|Subchapter 2 - Arkansas Uniform Transfers to Minors Act|§ 9-26-210. Single custodianship

 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 subchapter by the same custodian for the benefit of the same minor constitutes a single custodianship.
AR Code § 9-26-211 (2020)
2020 Arkansas Code|Title 9 - Family Law|Subtitle 3 - Minors|Chapter 26 - Rights Respecting Business and Property|Subchapter 2 - Arkansas Uniform Transfers to Minors Act|§ 9-26-211. Validity and effect of transfer

 (a) The validity of a transfer made in a manner prescribed in this subchapter shall not be affected by:  (1) failure of the transferor to comply with § 9-26-209(c) concerning possession and control;  (2) 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 § 9-26-209(a); or  (3) death or incapacity of a person nominated under § 9-26-203 or designated under § 9-26-209 as custodian or the disclaimer of the office by that person.    (b) A transfer made pursuant to § 9-26-209 shall be irrevocable, and the custodial property shall be indefeasibly vested in the minor, but the custodian has all the rights, powers, duties, and authority provided in this subchapter, and neither the minor nor the minor's legal representative shall have any right, power, duty, or authority with respect to the custodial property except as provided in this subchapter.  (c) By making a transfer, the transferor shall incorporate in the disposition all the provisions of this subchapter and shall grant to the custodian, and to any third person dealing with a person designated as custodian, the respective powers, rights, and immunities provided in this subchapter.
AR Code § 9-26-212 (2020)
2020 Arkansas Code|Title 9 - Family Law|Subtitle 3 - Minors|Chapter 26 - Rights Respecting Business and Property|Subchapter 2 - Arkansas Uniform Transfers to Minors Act|§ 9-26-212. Care of custodial property

 (a) A custodian shall:  (1) take control of custodial property;  (2) register or record title to custodial property if appropriate; and  (3) collect, hold, manage, invest, and reinvest custodial property.    (b) 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.  (c) A custodian may invest in or pay premiums on life insurance or endowment policies on (i) the life of the minor only if the minor or the minor's estate is the sole beneficiary, or (ii) 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.  (d) 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 shall be so identified if it is recorded, and custodial property subject to registration shall be 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 Arkansas Uniform Transfers to Minors Act.”  (e) 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.
AR Code § 9-26-213 (2020)
2020 Arkansas Code|Title 9 - Family Law|Subtitle 3 - Minors|Chapter 26 - Rights Respecting Business and Property|Subchapter 2 - Arkansas Uniform Transfers to Minors Act|§ 9-26-213. Powers of custodian

 (a) A custodian, acting in a custodial capacity, shall have 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.  (b) This section does not relieve a custodian from liability for breach of § 9-26-212.
AR Code § 9-26-214 (2020)
2020 Arkansas Code|Title 9 - Family Law|Subtitle 3 - Minors|Chapter 26 - Rights Respecting Business and Property|Subchapter 2 - Arkansas Uniform Transfers to Minors Act|§ 9-26-214. Use of custodial property

 (a) 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 (i) the duty or ability of the custodian personally or of any other person to support the minor, or (ii) any other income or property of the minor which may be applicable or available for that purpose.  (b) 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.  (c) A delivery, payment, or expenditure under this section is in addition to, not in substitution for, and shall not affect any obligation of a person to support the minor.
AR Code § 9-26-215 (2020)
2020 Arkansas Code|Title 9 - Family Law|Subtitle 3 - Minors|Chapter 26 - Rights Respecting Business and Property|Subchapter 2 - Arkansas Uniform Transfers to Minors Act|§ 9-26-215. Custodian's expenses — Compensation — Bond

 (a) A custodian is entitled to reimbursement from custodial property for reasonable expenses incurred in the performance of the custodian's duties.  (b) Except for one who is a transferor under § 9-26-204, a custodian shall have a non-cumulative election during each calendar year to charge reasonable compensation for services performed during that year.  (c) Except as provided in § 9-26-218(f), a custodian shall not be required to give a bond.
AR Code § 9-26-216 (2020)
2020 Arkansas Code|Title 9 - Family Law|Subtitle 3 - Minors|Chapter 26 - Rights Respecting Business and Property|Subchapter 2 - Arkansas Uniform Transfers to Minors Act|§ 9-26-216. Exemption of a third person from liability

 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, shall not be responsible for determining:   (1) the validity of the purported custodian's designation;  (2) the propriety of, or the authority under this subchapter for, any act of the purported custodian;  (3) the validity or propriety under this subchapter of any instrument or instructions executed or given either by the person purporting to make a transfer or by the purported custodian; or  (4) the propriety of the application of any property of the minor delivered to the purported custodian.
AR Code § 9-26-217 (2020)
2020 Arkansas Code|Title 9 - Family Law|Subtitle 3 - Minors|Chapter 26 - Rights Respecting Business and Property|Subchapter 2 - Arkansas Uniform Transfers to Minors Act|§ 9-26-217. Liability to third persons

 (a) A claim based on (i) a contract entered into by a custodian acting in a custodial capacity, (ii) an obligation arising from the ownership or control of custodial property, or (iii) 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.  (b) A custodian shall not be personally liable:  (1) 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  (2) for an obligation arising from control of custodial property or for a tort committed during the custodianship unless the custodian is personally at fault.    (c) A minor shall not be 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.
AR Code § 9-26-219 (2020)
2020 Arkansas Code|Title 9 - Family Law|Subtitle 3 - Minors|Chapter 26 - Rights Respecting Business and Property|Subchapter 2 - Arkansas Uniform Transfers to Minors Act|§ 9-26-219. Accounting by and determination of liability of custodian

 (a) 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 (i) for an accounting by the custodian or the custodian's legal representative; or (ii) 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 § 9-26-217 to which the minor or the minor's legal representative was a party.  (b) A successor custodian may petition the court for an accounting by the predecessor custodian.  (c) The court, in a proceeding under this subchapter or in any other proceeding, may require or permit the custodian or the custodian's legal representative to account.  (d) If a custodian is removed under § 9-26-218(f), 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.
AR Code § 9-26-220 (2020)
2020 Arkansas Code|Title 9 - Family Law|Subtitle 3 - Minors|Chapter 26 - Rights Respecting Business and Property|Subchapter 2 - Arkansas Uniform Transfers to Minors Act|§ 9-26-220. Termination of custodianship

 The custodian shall transfer in an appropriate manner the custodial property to the minor or to the minor's estate upon the earlier of:   (1) the minor's attainment of twenty-one (21) years of age with respect to custodial property transferred under § 9-26-204 or § 9-26-205, except that any transferor may have custodial property transferred to the minor at any time after the age of eighteen (18) years and before twenty-one (21) years by a designation in the following words or their equivalent: “The custodian shall transfer this property to (name of minor) when (he or she) reaches the age of (age, after eighteen (18) years and before twenty-one (21) years, at which transfer takes place)”;  (2) the minor's attainment of age eighteen (18) years with respect to custodial property transferred under § 9-26-206 or § 9-26-207; or  (3) the minor's death.
AR Code § 9-26-221 (2020)
2020 Arkansas Code|Title 9 - Family Law|Subtitle 3 - Minors|Chapter 26 - Rights Respecting Business and Property|Subchapter 2 - Arkansas Uniform Transfers to Minors Act|§ 9-26-221. Applicability

 This subchapter shall apply to a transfer within the scope of § 9-26-202 made after March 21, 1985, if:   (1) the transfer purports to have been made under the Uniform Gifts to Minors Act [repealed]; or  (2) 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 [repealed]” or “as custodian under the Uniform Transfers to Minors Act” of any other state, and the application of this subchapter is necessary to validate the transfer.
AR Code § 9-26-222 (2020)
2020 Arkansas Code|Title 9 - Family Law|Subtitle 3 - Minors|Chapter 26 - Rights Respecting Business and Property|Subchapter 2 - Arkansas Uniform Transfers to Minors Act|§ 9-26-222. Effect on existing custodianships

 (a) Any transfer of custodial property as now defined in this subchapter made before March 21, 1985, shall be validated notwithstanding that there was no specific authority in the Arkansas Uniform Gifts to Minors Act [repealed] 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 subchapter shall apply to all transfers made before March 21, 1985, in a manner and form prescribed in the Arkansas Uniform Gifts to Minors Act [repealed], except insofar as the application impairs constitutionally vested rights or extends the duration of custodianships in existence on March 21, 1985.  (c) Sections 9-26-201 and 9-26-220, with respect to the age of a minor for whom custodial property is held under this subchapter, shall not apply to custodial property held in a custodianship that terminated because of the minor's attainment of the age of majority under prior law and before March 21, 1985.
AR Code § 9-26-223 (2020)
2020 Arkansas Code|Title 9 - Family Law|Subtitle 3 - Minors|Chapter 26 - Rights Respecting Business and Property|Subchapter 2 - Arkansas Uniform Transfers to Minors Act|§ 9-26-223. Uniformity of application and construction

 This subchapter shall be applied and construed to effectuate its general purpose to make uniform the law with respect to the subject of this subchapter among states enacting it.
AR Code § 9-26-224 (2020)
2020 Arkansas Code|Title 9 - Family Law|Subtitle 3 - Minors|Chapter 26 - Rights Respecting Business and Property|Subchapter 2 - Arkansas Uniform Transfers to Minors Act|§ 9-26-224. Short title

 This subchapter may be cited as the “Arkansas Uniform Transfers to Minors Act”.
AR Code § 9-26-225 (2020)
2020 Arkansas Code|Title 9 - Family Law|Subtitle 3 - Minors|Chapter 26 - Rights Respecting Business and Property|Subchapter 2 - Arkansas Uniform Transfers to Minors Act|§ 9-26-225. Severability

 If any provisions of this subchapter or its application to any person or circumstance is held invalid, the invalidity does not affect other provisions or applications of this subchapter which can be given effect without the invalid provision or application, and to this end provisions of this subchapter are severable.
AR Code § 9-26-226 (2020)
2020 Arkansas Code|Title 9 - Family Law|Subtitle 3 - Minors|Chapter 26 - Rights Respecting Business and Property|Subchapter 2 - Arkansas Uniform Transfers to Minors Act|§ 9-26-226. Effective date

 It has been found that Acts 1967, No. 250 limits the kinds of properties that may be transferred to the custodian of a minor and there is a need to expand the kinds of properties that may be the subject of a gift to a minor's custodian. Therefore, an emergency is hereby declared to exist and this subchapter, being immediately necessary for the preservation of the free flow of commerce, shall be in full force and effect from and after March 21, 1985.
AR Code § 9-26-227 (2020)
2020 Arkansas Code|Title 9 - Family Law|Subtitle 3 - Minors|Chapter 26 - Rights Respecting Business and Property|Subchapter 2 - Arkansas Uniform Transfers to Minors Act|§ 9-26-227. Repealer

 Acts 1967, No. 250, the Arkansas Uniform Gifts to Minors Act, is hereby repealed. To the extent that this subchapter, by virtue of § 9-26-222(b), does not apply to transfers made in a manner prescribed in the Arkansas Uniform Gifts to Minors Act [repealed] or to the powers, duties, and immunities conferred by transfers in that manner upon custodians and persons dealing with custodians, the repeal of the Arkansas Uniform Gifts to Minors Act does not affect those transfers or those powers, duties, and immunities. All other laws and parts of laws in conflict with this subchapter are hereby repealed.
AR Code § 9-26-301 (2020)
2020 Arkansas Code|Title 9 - Family Law|Subtitle 3 - Minors|Chapter 26 - Rights Respecting Business and Property|Subchapter 3 - Uniform Securities Ownership by Minors Act|§ 9-26-301. Definitions

 In this subchapter, unless the context otherwise requires:   (a) “Bank” is a bank, trust company, national banking association, savings bank, or industrial bank;  (b) “Broker” is a person, including a bank, lawfully engaged in the business of effecting transactions in securities for the account of others and includes a broker lawfully engaged in buying and selling securities for his or her own account;  (c) “Issuer” is a person who places or authorizes the placing of his or her name on a security other than as a transfer agent to evidence that it represents a share, participation or other interest in his or her property or in an enterprise or to evidence his or her duty to perform an obligation evidenced by the security, or who becomes responsible for or in place of any such person;  (d) “Person” includes a corporation, government or governmental subdivision or agency, business trust, estate, trust, partnership or association, two (2) or more persons having a joint or common interest, or any other legal or commercial entity;  (e) “Security” includes any note, stock, treasury stock, bond, debenture, evidence of indebtedness, certificate of interest or participation in an oil, gas, or mining title or lease or in payment out of production under such a title or lease, collateral trust certificate, transferable share, voting trust certificate or, in general, any interest or instrument commonly known as a security, or any certificate or interest or participation in, any temporary or interim certificate, receipt or certificate of deposit for, or any warrant or right to subscribe to or purchase, any of the foregoing;  (f) “Third-party” is a person other than a bank, broker, transfer agent, or issuer who with respect to a security held by a minor effects a transaction otherwise than directly with the minor;  (g) “Transfer agent” is a person who acts as authenticating trustee, transfer agent, registrar, or other agent for an issuer in the registration of transfers of securities, in the issue of new securities, or in the cancellation of surrendered securities.
AR Code § 9-26-302 (2020)
2020 Arkansas Code|Title 9 - Family Law|Subtitle 3 - Minors|Chapter 26 - Rights Respecting Business and Property|Subchapter 3 - Uniform Securities Ownership by Minors Act|§ 9-26-302. Liability for dealing with minor

 A bank, broker, issuer, third-party, or transfer agent incurs no liability by reason of his or her treating a minor as having capacity to transfer a security, to receive or to empower others to receive dividends, interest, principal, or other payments or distributions, to vote or give consent in person or by proxy, or to make elections or exercise rights relating to the security, unless prior to acting in the transaction the bank, broker, issuer, third-party, or transfer agent had received written notice in the office acting in the transaction that the specific security is held by a minor or unless an individual conducting the transaction for the bank, broker, issuer, third-party, or transfer agent had actual knowledge of the minority of the holder of the security. Except as otherwise provided in this subchapter, such a bank, broker, issuer, third-party, or transfer agent may assume without inquiry that the holder of a security is not a minor.
AR Code § 9-26-303 (2020)
2020 Arkansas Code|Title 9 - Family Law|Subtitle 3 - Minors|Chapter 26 - Rights Respecting Business and Property|Subchapter 3 - Uniform Securities Ownership by Minors Act|§ 9-26-303. Disaffirmation of transaction by minor

 A minor, who has transferred a security, received or empowered others to receive dividends, interest, principal, or other payments or distributions, voted or given consent in person or by proxy, or made an election or exercised rights relating to the security, has no right thereafter, as against a bank, broker, issuer, third-party, or transfer agent to disaffirm or avoid the transaction, unless prior to acting in the transaction the bank, broker, issuer, third-party, or transfer agent against whom the transaction is sought to be disaffirmed or avoided had received notice in the office acting in the transaction that the specific security is held by a minor or unless an individual conducting the transaction for the bank, broker, issuer, third-party, or transfer agent had actual knowledge of the minority of the holder.
AR Code § 9-26-304 (2020)
2020 Arkansas Code|Title 9 - Family Law|Subtitle 3 - Minors|Chapter 26 - Rights Respecting Business and Property|Subchapter 3 - Uniform Securities Ownership by Minors Act|§ 9-26-304. Construction

 This subchapter shall be so construed as to effectuate its general purpose to make uniform the laws of those states which enact it.
AR Code § 9-26-305 (2020)
2020 Arkansas Code|Title 9 - Family Law|Subtitle 3 - Minors|Chapter 26 - Rights Respecting Business and Property|Subchapter 3 - Uniform Securities Ownership by Minors Act|§ 9-26-305. Title

 This subchapter may be cited as the Uniform Securities Ownership by Minors Act.
AR Code § 9-26-306 (2020)
2020 Arkansas Code|Title 9 - Family Law|Subtitle 3 - Minors|Chapter 26 - Rights Respecting Business and Property|Subchapter 3 - Uniform Securities Ownership by Minors Act|§ 9-26-306. Severability

 If any provision of this subchapter or the application thereof to any person or circumstance is held invalid, the invalidity shall not affect other provisions or applications of the subchapter which can be given effect without the invalid provision or application, and to this end the provisions of this subchapter are severable.