reglab/housing_qa huggingface dataset:
ID Code § 68-514 (2021)
2021 Idaho Code|Title 68 - TRUSTS AND FIDUCIARIES|Chapter 5 - UNIFORM PRUDENT INVESTOR ACT|Section 68-514 - GUARDIANS AND CONSERVATORS.

68-514. GUARDIANS AND CONSERVATORS. The provisions of this act shall apply to and govern any bank, trust company or individual authorized and duly appointed by a court of competent jurisdiction, to act as a guardian or conservator under the laws of the state of Idaho.  History: [68-514, added 1997, ch. 14, sec. 2, p. 17; am. 2012, ch. 88, sec. 1, p. 245.]
ID Code § 68-601 (2021)
2021 Idaho Code|Title 68 - TRUSTS AND FIDUCIARIES|Chapter 6 - NOMINEE REGISTRATION ACT|Section 68-601 - ESTABLISHMENT OF NOMINEE REGISTRATION.

68-601. ESTABLISHMENT OF NOMINEE REGISTRATION. Any bank or trust company acting as a fiduciary, whether alone or jointly with an individual or individuals, may, with the consent of the individual fiduciary or fiduciaries, if any (who are hereby authorized to give such consent), cause any bond, stock, mortgage, deed or other security or asset, real or personal, including a fractional interest thereof, held in any fiduciary capacity to be held in the name of a nominee or nominees of such bank or trust company without reference to or mention of the fiduciary relationship; provided, that the trust company’s records for and all reports or accounts rendered concerning the fiduciary relationship clearly show the ownership of the property by the bank or trust company and that the nominee or nominees of the bank or trust company indorse in blank, or execute a conveyance or assignment to the bank or trust company for, each item of property held in its name. A bank or trust company shall be responsible for the acts of any nominee with respect to any property held in the name of a nominee.  History: [68-601, added 1949, ch. 33, sec. 1, p. 56.]
ID Code § 68-602 (2021)
2021 Idaho Code|Title 68 - TRUSTS AND FIDUCIARIES|Chapter 6 - NOMINEE REGISTRATION ACT|Section 68-602 - CORPORATION’S DUTY TO INQUIRE INTO A TRANSFER.

68-602. CORPORATION’S DUTY TO INQUIRE INTO A TRANSFER. A corporation and its transfer agent shall be under no obligation to inquire into the propriety of a transfer of any stock or security held in a nominee’s name unless the corporation or transfer agent has actual knowledge of a breach of fiduciary duty in connection with assets so held.  History: [68-602, added 1949, ch. 33, sec. 2, p. 56.]
ID Code § 68-603 (2021)
2021 Idaho Code|Title 68 - TRUSTS AND FIDUCIARIES|Chapter 6 - NOMINEE REGISTRATION ACT|Section 68-603 - SHORT TITLE.

68-603. SHORT TITLE. This act may be cited as the Nominee Registration Act.  History: [68-603, added 1949, ch. 33, sec. 3, p. 56.]
ID Code § 68-701 (2021)
2021 Idaho Code|Title 68 - TRUSTS AND FIDUCIARIES|Chapter 7 - UNIFORM COMMON TRUST FUND ACT|Section 68-701 - ESTABLISHMENT OF COMMON TRUST FUNDS.

68-701. ESTABLISHMENT OF COMMON TRUST FUNDS. (1) Any bank or trust company, state or national, qualified to act as fiduciary in this state may establish common trust funds for the purpose of furnishing investments to itself as fiduciary, to an affiliated bank or trust company as fiduciary, or to itself or an affiliated bank or trust company and others, as co-fiduciaries; and may, as such fiduciary, affiliate of a fiduciary or co-fiduciary, or co-fiduciary, invest funds which it lawfully holds for investment in interests in such common trust funds administered by itself or by any affiliated bank or trust company, if such investment is not prohibited by the instrument, judgment, decree, or order creating such fiduciary relationship, and if, in the case of co-fiduciaries, the bank or trust company procures the consent of its co-fiduciaries to such investment. (2) For purposes of this section, two (2) or more banks or trust companies are affiliated if they are members of the same affiliated group, within the meaning of section 1504 of the United States internal revenue code, as amended, whether the affiliate’s principal place of business is within or without the state of Idaho.  History: [68-701, added1949, ch. 34, sec. 1, p. 57; am. 1986, ch. 55, sec. 1, p. 162.]
ID Code § 68-702 (2021)
2021 Idaho Code|Title 68 - TRUSTS AND FIDUCIARIES|Chapter 7 - UNIFORM COMMON TRUST FUND ACT|Section 68-702 - UNIFORMITY OF INTERPRETATION.

68-702. UNIFORMITY OF INTERPRETATION. This act shall be so interpreted and construed as to effectuate its general purpose to make uniform the law of those states which enact it.  History: [68-702, added 1949, ch. 34, sec. 2, p. 57.]
ID Code § 68-703 (2021)
2021 Idaho Code|Title 68 - TRUSTS AND FIDUCIARIES|Chapter 7 - UNIFORM COMMON TRUST FUND ACT|Section 68-703 - SHORT TITLE.

68-703. SHORT TITLE. This act may be cited as the Uniform Common Trust Fund Act.  History: [68-703, added 1949, ch. 34, sec. 3, p. 57.]
ID Code § 68-801 (2021)
2021 Idaho Code|Title 68 - TRUSTS AND FIDUCIARIES|Chapter 8 - TRANSFERS TO MINORS|Section 68-801 - DEFINITIONS.

68-801. DEFINITIONS. As used in this chapter: (1) "Adult" means an individual who has attained the age of twenty-one (21) years. (2) "Benefit plan" means an employer’s plan for the benefit of an employee or partner. (3) "Broker" means a person lawfully engaged in the business of effecting transactions in securities or commodities for the person’s own account or for the account of others. (4) "Conservator" means a person appointed or qualified by a court to act as general, limited, or temporary guardian of a minor’s property or a person legally authorized to perform substantially the same functions. (5) "Court" means the district courts of the state of Idaho. (6) "Custodial property" means (i) any interest in property transferred to a custodian under this chapter and (ii) the income from and proceeds of that interest in property. (7) "Custodian" means a person so designated under section 68-809, Idaho Code, or a successor or substitute custodian designated under section 68-818, Idaho Code. (8) "Financial institution" means a bank, trust company, savings and loan association, or credit union, chartered and supervised under state or federal law. (9) "Legal representative" means an individual’s personal representative or conservator. (10) "Member of the minor’s family" means the minor’s parent, stepparent, spouse, grandparent, brother, sister, uncle, or aunt, whether of the whole or half blood or by adoption. (11) "Minor" means an individual who has not attained the age of twenty-one (21) years. (12) "Person" means an individual, corporation, organization, or other legal entity. (13) "Personal representative" means an executor, administrator, successor personal representative, or special administrator of a decedent’s estate or a person legally authorized to perform substantially the same functions. (14) "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. (15) "Transfer" means a transaction that creates custodial property under section 68-809, Idaho Code. (16) "Transferor" means a person who makes a transfer under this chapter. (17) "Trust company" means a financial institution, corporation, or other legal entity, authorized to exercise general trust powers.  History: [68-801, added 1984, ch. 152, sec. 2, p. 357.]
ID Code § 68-802 (2021)
2021 Idaho Code|Title 68 - TRUSTS AND FIDUCIARIES|Chapter 8 - TRANSFERS TO MINORS|Section 68-802 - SCOPE AND JURISDICTION.

68-802. SCOPE AND JURISDICTION. (1) This chapter applies to a transfer that refers to this chapter in the designation under section 68-809(1), Idaho Code, by which the transfer is made, if at the time of the transfer, the transferor, the minor, or the custodian is a resident of this state or the custodial property is located in this state. The custodianship so created remains subject to this chapter despite a subsequent change in residence of a transferor, the minor, or the custodian, or the removal of custodial property from this state. (2) A person designated as custodian under this chapter is subject to personal jurisdiction in this state with respect to any matter relating to the custodianship. (3) A transfer that purports to be made and which is valid under the Uniform Transfers to Minors Act, the Uniform Gifts to Minors Act, or a substantially similar act, of another state is governed by the law of the designated state and may be executed and is enforceable in this state if, at the time of the transfer, the transferor, the minor, or the custodian is a resident of the designated state or the custodial property is located in the designated state.  History: [68-802, added 1984, ch. 152, sec. 2, p. 358.]
ID Code § 68-803 (2021)
2021 Idaho Code|Title 68 - TRUSTS AND FIDUCIARIES|Chapter 8 - TRANSFERS TO MINORS|Section 68-803 - NOMINATION OF CUSTODIAN.

68-803. NOMINATION OF CUSTODIAN. (1) A person having the right to designate the recipient of property transferable upon the occurrence of a future event may revocably nominate a custodian to receive the property for a minor beneficiary upon the occurrence of the event by naming the custodian, followed in substance by the words: "as custodian for (name of minor) under the Idaho Uniform Transfers to Minors Act." The nomination may name one or more persons as substitute custodians to whom the property must be transferred, in the order named, if the first nominated custodian dies before the transfer or is unable, declines, or is ineligible to serve. The nomination may be made in a will, a trust, a deed, an instrument exercising a power of appointment, or in a writing designating a beneficiary of contractual rights which is registered with or delivered to the payor, issuer, or other obligor of the contractual rights. (2) A custodian nominated under this section must be a person to whom a transfer of property of that kind may be made under section 68-809(1), Idaho Code. (3) The nomination of a custodian under this section does not create custodial property until the nominating instrument becomes irrevocable or a transfer to the nominated custodian is completed under section 68-809, Idaho Code. Unless the nomination of a custodian has been revoked, upon the occurrence of the future event, the custodianship becomes effective and the custodian shall enforce a transfer of the custodial property pursuant to section 68-809, Idaho Code.  History: [68-803, added 1984, ch. 152, sec. 2, p. 358.]
ID Code § 68-804 (2021)
2021 Idaho Code|Title 68 - TRUSTS AND FIDUCIARIES|Chapter 8 - TRANSFERS TO MINORS|Section 68-804 - TRANSFER BY GIFT OR EXERCISE OF POWER OF APPOINTMENT.

68-804. TRANSFER BY GIFT OR EXERCISE OF POWER OF APPOINTMENT. 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 68-809, Idaho Code.  History: [68-804, added 1984, ch. 152, sec. 2, p. 359.]
ID Code § 68-805 (2021)
2021 Idaho Code|Title 68 - TRUSTS AND FIDUCIARIES|Chapter 8 - TRANSFERS TO MINORS|Section 68-805 - TRANSFER AUTHORIZED BY WILL OR TRUST.

68-805. TRANSFER AUTHORIZED BY WILL OR TRUST. (1) A personal representative or trustee may make an irrevocable transfer pursuant to section 68-809, Idaho Code, to a custodian for the benefit of a minor as authorized in the governing will or trust. (2) If the testator or settlor has nominated a custodian under section 68-803, Idaho Code, to receive the custodial property, the transfer must be made to that person. (3) If the testator or settlor has not nominated a custodian under section 68-803, Idaho Code, 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 68-809(1), Idaho Code.  History: [68-805, added 1984, ch. 152, sec. 2, p. 359.]
ID Code § 68-806 (2021)
2021 Idaho Code|Title 68 - TRUSTS AND FIDUCIARIES|Chapter 8 - TRANSFERS TO MINORS|Section 68-806 - OTHER TRANSFER BY FIDUCIARY.

68-806. OTHER TRANSFER BY FIDUCIARY. (1) Subject to subsection (3) of this section, 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 68-809, Idaho Code, in the absence of a will or under a will or trust that does not contain an authorization to do so. (2) Subject to subsection (3) of this section, a conservator may make an irrevocable transfer to another adult or trust company as custodian for the benefit of the minor pursuant to section 68-809, Idaho Code. (3) A transfer under subsection (1) or (2) of this section may be made only if (i) the personal representative, trustee, or conservator considers the transfer to be in the best interest of the minor, (ii) the transfer is not prohibited by or inconsistent with provisions of the applicable will, trust agreement, or other governing instrument, and (iii) the transfer is authorized by the court if it exceeds ten thousand dollars ($10,000) in value.  History: [68-806, added 1984, ch. 152, sec. 2, p. 359.]
ID Code § 68-807 (2021)
2021 Idaho Code|Title 68 - TRUSTS AND FIDUCIARIES|Chapter 8 - TRANSFERS TO MINORS|Section 68-807 - TRANSFER BY OBLIGOR.

68-807. TRANSFER BY OBLIGOR. (1) Subject to subsections (2) and (3), a person not subject to the provisions of either section 68-805 or 68-806, Idaho Code, 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 68-809, Idaho Code. (2) If a person having the right to do so under section 68-803, Idaho Code, has nominated a custodian under that section to receive the custodial property, the transfer must be made to that person. (3) If no custodian has been nominated under section 68-803, Idaho Code, 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) in value.  History: [68-807, added 1984, ch. 152, sec. 2, p. 360.]
ID Code § 68-808 (2021)
2021 Idaho Code|Title 68 - TRUSTS AND FIDUCIARIES|Chapter 8 - TRANSFERS TO MINORS|Section 68-808 - RECEIPT FOR CUSTODIAL PROPERTY.

68-808. RECEIPT FOR CUSTODIAL PROPERTY. 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.  History: [68-808, added 1984, ch. 152, sec. 2, p. 360.]
ID Code § 68-810 (2021)
2021 Idaho Code|Title 68 - TRUSTS AND FIDUCIARIES|Chapter 8 - TRANSFERS TO MINORS|Section 68-810 - SINGLE CUSTODIANSHIP.

68-810. 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 chapter by the same custodian for the benefit of the same minor constitutes a single custodianship.  History: [68-810, added 1984, ch. 152, sec. 2, p. 362.]
ID Code § 68-811 (2021)
2021 Idaho Code|Title 68 - TRUSTS AND FIDUCIARIES|Chapter 8 - TRANSFERS TO MINORS|Section 68-811 - VALIDITY AND EFFECT OF TRANSFER.

68-811. VALIDITY AND EFFECT OF TRANSFER. (1) The validity of a transfer made in a manner prescribed in this chapter is not affected by: (a) Failure of the transferor to comply with section 68-809(3), Idaho Code, concerning possession and control; (b) 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 68-809(1), Idaho Code; or (c) Death or incapacity of a person nominated under section 68-803, Idaho Code, or designated under section 68-809, Idaho Code, as custodian or the disclaimer of the office by that person. (2) A transfer made pursuant to section 68-809, Idaho Code, 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. (c)[(3)] 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.  History: [68-811, added 1984, ch. 152, sec. 2, p. 362.]
ID Code § 68-812 (2021)
2021 Idaho Code|Title 68 - TRUSTS AND FIDUCIARIES|Chapter 8 - TRANSFERS TO MINORS|Section 68-812 - CARE OF CUSTODIAL PROPERTY.

68-812. CARE OF CUSTODIAL PROPERTY. (1) A custodian shall: (a) Take control of custodial property; (b) Register or record title to custodial property if appropriate; and (c) Collect, hold, manage, invest, and reinvest custodial property. (2) 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. (3) 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. (4) 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 Idaho Uniform Transfers to Minors Act." (5) 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.  History: [68-812, added 1984, ch. 152, sec. 2, p. 362.]
ID Code § 68-813 (2021)
2021 Idaho Code|Title 68 - TRUSTS AND FIDUCIARIES|Chapter 8 - TRANSFERS TO MINORS|Section 68-813 - POWERS OF CUSTODIAN.

68-813. POWERS OF CUSTODIAN. (1) 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. (2) The provisions of this section do not relieve a custodian from liability for breach of the provisions of section 68-812, Idaho Code.  History: [68-813, added 1984, ch. 152, sec. 2, p. 363.]
ID Code § 68-814 (2021)
2021 Idaho Code|Title 68 - TRUSTS AND FIDUCIARIES|Chapter 8 - TRANSFERS TO MINORS|Section 68-814 - USE OF CUSTODIAL PROPERTY.

68-814. USE OF CUSTODIAL PROPERTY. (1) 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. (2) 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. (3) 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.  History: [68-814, added 1984, ch. 152, sec. 2, p. 363.]
ID Code § 68-815 (2021)
2021 Idaho Code|Title 68 - TRUSTS AND FIDUCIARIES|Chapter 8 - TRANSFERS TO MINORS|Section 68-815 - CUSTODIAN’S EXPENSES, COMPENSATION, AND BOND.

68-815. CUSTODIAN’S EXPENSES, COMPENSATION, AND BOND. (1) A custodian is entitled to reimbursement from custodial property for reasonable expenses incurred in the performance of the custodian’s duties. (2) Except for one who is a transferor under section 68-804, Idaho Code, a custodian has a noncumulative election during each calendar year to charge reasonable compensation for services performed during that year. (3) Except as provided in section 68-818(6), Idaho Code, a custodian need not give a bond.  History: [68-815, added 1984, ch. 152, sec. 2, p. 364.]
ID Code § 68-816 (2021)
2021 Idaho Code|Title 68 - TRUSTS AND FIDUCIARIES|Chapter 8 - TRANSFERS TO MINORS|Section 68-816 - EXEMPTION OF THIRD PERSON FROM LIABILITY.

68-816. EXEMPTION OF 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, is not responsible for determining: (1) The validity of the purported custodian’s designation; (2) The propriety of, or the authority under this chapter for, any act of the purported custodian; (3) 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 (4) The propriety of the application of any property of the minor delivered to the purported custodian.  History: [68-816, added 1984, ch. 152, sec. 2, p. 364.]
ID Code § 68-817 (2021)
2021 Idaho Code|Title 68 - TRUSTS AND FIDUCIARIES|Chapter 8 - TRANSFERS TO MINORS|Section 68-817 - LIABILITY TO THIRD PERSONS.

68-817. LIABILITY TO THIRD PERSONS. (1) 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. (2) A custodian is not personally liable: (a) 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 (b) For an obligation arising from control of custodial property or for a tort committed during the custodianship unless the custodian is personally at fault. (3) 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.  History: [68-817, added 1984, ch. 152, sec. 2, p. 364.]