reglab/housing_qa huggingface dataset:
IN Code § 30-2-8.5-23 (2021)
2021 Indiana Code|Title 30. Trusts and Fiduciaries|Article 2. General Provisions|Chapter 8.5. Indiana Uniform Transfers to Minors Act|30-2-8.5-23. Receipt for Custodial Property

Sec. 23. A written acknowledgement of delivery by a custodian constitutes a sufficient receipt and discharge for custodial property transferred to the custodian under this chapter.As added by P.L.267-1989, SEC.2.
IN Code § 30-2-8.5-25 (2021)
2021 Indiana Code|Title 30. Trusts and Fiduciaries|Article 2. General Provisions|Chapter 8.5. Indiana Uniform Transfers to Minors Act|30-2-8.5-25. Single Custodianship

Sec. 25. 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.As added by P.L.267-1989, SEC.2.
IN Code § 30-2-8.5-26 (2021)
2021 Indiana Code|Title 30. Trusts and Fiduciaries|Article 2. General Provisions|Chapter 8.5. Indiana Uniform Transfers to Minors Act|30-2-8.5-26. Validity and Effect of Transfer

Sec. 26. (a) The validity of a transfer made in a manner prescribed in this chapter is not affected by:(1) the failure of the transferor to comply with section 24(c) of this chapter concerning possession and control;(2) the 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 24(a) of this chapter; or(3) the death or incapacity of a person nominated under section 18 of this chapter or designated under section 24 of this chapter as custodian or the disclaimer of the office by that person.(b) A transfer made under section 24 of this chapter 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 a right, power, duty, or authority with respect to the custodial property except as provided in this chapter.(c) By making a transfer, the transferor incorporates in the disposition all the provisions of this chapter, and grants to the custodian, and to a third person dealing with a person designated as custodian, the respective powers, rights, and immunities provided in this chapter.As added by P.L.267-1989, SEC.2.
IN Code § 30-2-8.5-27 (2021)
2021 Indiana Code|Title 30. Trusts and Fiduciaries|Article 2. General Provisions|Chapter 8.5. Indiana Uniform Transfers to Minors Act|30-2-8.5-27. Care of Custodial Property

Sec. 27. (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 custodial property received from a transferor.(c) A custodian may invest in or pay premiums on life insurance or endowment policies on:(1) the life of the minor only if the minor or the minor's estate is the sole beneficiary; or(2) 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 the property clearly as custodial property of the minor. Custodial property consisting of an undivided interest is identified if the minor's interest is held as a tenant in common and is fixed. Custodial property subject to recordation is identified if the property is recorded, and custodial property subject to registration is identified if the property is either registered or held in an account designated in the name of the custodian, followed by the words: "as a custodian for _______________ (name of minor) under the Indiana 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 is at least fourteen (14) years of age.As added by P.L.267-1989, SEC.2.
IN Code § 30-2-8.5-28 (2021)
2021 Indiana Code|Title 30. Trusts and Fiduciaries|Article 2. General Provisions|Chapter 8.5. Indiana Uniform Transfers to Minors Act|30-2-8.5-28. Powers of Custodian

Sec. 28. (a) A custodian acting in a custodial capacity has all the rights, powers, and authority over custodial property that an unmarried adult owner has over the adult owner's own property, but a custodian may exercise those rights, powers, and authority in a custodial capacity only.(b) This section does not relieve a custodian from liability for breach of the requirements of section 27 of this chapter.As added by P.L.267-1989, SEC.2.
IN Code § 30-2-8.5-29 (2021)
2021 Indiana Code|Title 30. Trusts and Fiduciaries|Article 2. General Provisions|Chapter 8.5. Indiana Uniform Transfers to Minors Act|30-2-8.5-29. Use of Custodial Property; Transfer of Property to Trust

Sec. 29. (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:(1) the duty or ability of the custodian personally or of any other person to support the minor; or(2) any other income or property of the minor that may be applicable or available for the support of the minor.(b) At any time and without a court order, a custodian may transfer part or all of the custodial property to a trust, including a trust created by the custodian, in which:(1) the minor is the sole beneficiary of the trust; and(2) the terms of the trust satisfy the requirements of Section 2503(c) of the Internal Revenue Code and the regulations under that section.The transfer terminates the custodianship of the property to the extent of the transfer.(c) On petition of an interested person or the minor if the minor is at least fourteen (14) years of age, the court may order the custodian to deliver or pay to the minor or expend for the minor's benefit as much of the custodial property as the court considers advisable for the use and benefit of the minor.(d) A delivery, payment, or expenditure under this section is in addition to, not in substitution for, and does not affect an obligation of a person to support the minor.As added by P.L.267-1989, SEC.2. Amended by P.L.238-2005, SEC.17; P.L.95-2007, SEC.17.
IN Code § 30-2-8.5-30 (2021)
2021 Indiana Code|Title 30. Trusts and Fiduciaries|Article 2. General Provisions|Chapter 8.5. Indiana Uniform Transfers to Minors Act|30-2-8.5-30. Custodian's Expenses, Compensation, and Bond

Sec. 30. (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 a person who is a transferor under section 19 of this chapter, a custodian has an election during each calendar year to charge reasonable compensation for services performed during that year.(c) A custodian's election to charge reasonable compensation for a calendar year must be exercised during the calendar year.(d) Except as provided in section 33(f) of this chapter, a custodian is not required to give a bond.As added by P.L.267-1989, SEC.2.
IN Code § 30-2-8.5-31 (2021)
2021 Indiana Code|Title 30. Trusts and Fiduciaries|Article 2. General Provisions|Chapter 8.5. Indiana Uniform Transfers to Minors Act|30-2-8.5-31. Exemption of Third Person From Liability

Sec. 31. A person in good faith and without court order may act on the instructions of or otherwise deal with a 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, an act of the purported custodian;(3) the validity or propriety under this chapter of an instrument or instruction executed or given by the person purporting to make a transfer or by the purported custodian, or both; or(4) the propriety of the application of property of the minor delivered to the purported custodian.As added by P.L.267-1989, SEC.2.
IN Code § 30-2-8.5-32 (2021)
2021 Indiana Code|Title 30. Trusts and Fiduciaries|Article 2. General Provisions|Chapter 8.5. Indiana Uniform Transfers to Minors Act|30-2-8.5-32. Liability to Third Person

Sec. 32. (a) A claim based on:(1) a contract entered into by a custodian acting in a custodial capacity;(2) an obligation arising from the ownership or control of custodial property, or both; or(3) 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.(b) A custodian is not personally liable:(1) on a contract properly entered into in the custodial capacity unless the custodian fails to reveal that capacity and fails 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 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.As added by P.L.267-1989, SEC.2.
IN Code § 30-2-8.5-34 (2021)
2021 Indiana Code|Title 30. Trusts and Fiduciaries|Article 2. General Provisions|Chapter 8.5. Indiana Uniform Transfers to Minors Act|30-2-8.5-34. Accounting by and Determination of Liability of Custodian

Sec. 34. (a) A minor who is at least fourteen (14) years of age, the minor's guardian or legal representative, an adult member of the minor's family, a transferor, or a transferor's legal representative may petition the court for:(1) an accounting by the custodian or the custodian's legal representative; or(2) a determination of responsibility 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 32 of this chapter 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 chapter or in any other proceeding, may require or permit the custodian or the custodian's legal representative to give an accounting.(d) If a custodian is removed under section 33(f) of this chapter, 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.As added by P.L.267-1989, SEC.2.
IN Code § 30-2-8.5-35 (2021)
2021 Indiana Code|Title 30. Trusts and Fiduciaries|Article 2. General Provisions|Chapter 8.5. Indiana Uniform Transfers to Minors Act|30-2-8.5-35. Termination of Custodianship

Sec. 35. 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 attaining twenty-one (21) years of age; or(2) the minor's death.As added by P.L.267-1989, SEC.2.
IN Code § 30-2-8.5-36 (2021)
2021 Indiana Code|Title 30. Trusts and Fiduciaries|Article 2. General Provisions|Chapter 8.5. Indiana Uniform Transfers to Minors Act|30-2-8.5-36. Applicability

Sec. 36. This chapter applies to a transfer within the scope of section 17 of this chapter made after this chapter's effective date:(1) if:(A) the transfer purports to have been made under the Indiana uniform gifts to minors act (IC 30-2-8); or(B) 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(2) the application of this chapter is necessary to validate the transfer.As added by P.L.267-1989, SEC.2.
IN Code § 30-2-8.5-37 (2021)
2021 Indiana Code|Title 30. Trusts and Fiduciaries|Article 2. General Provisions|Chapter 8.5. Indiana Uniform Transfers to Minors Act|30-2-8.5-37. Effect on Existing Custodianships

Sec. 37. (a) A transfer of custodial property made before July 1, 1989, is validated even if there was no specific authority in the Indiana uniform gifts to minors act (IC 30-2-8) 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 chapter applies to all transfers made before July 1, 1989, in a manner and form prescribed in the Indiana uniform gifts to minors act (IC 30-2-8) except to the extent:(1) the application impairs constitutionally vested rights or extends the duration of custodianships in existence on July 1, 1989; or(2) provided in subsection (c).(c) The amendments to IC 30-2-8 made by Acts 1973, P.L.293; do not apply to a custodian account established in accordance with IC 30-2-8 before January 1, 1974.As added by P.L.267-1989, SEC.2.
IN Code § 30-2-8.5-38 (2021)
2021 Indiana Code|Title 30. Trusts and Fiduciaries|Article 2. General Provisions|Chapter 8.5. Indiana Uniform Transfers to Minors Act|30-2-8.5-38. Uniformity of Application and Construction

Sec. 38. This chapter shall be applied and construed to effectuate a general purpose to make uniform the law with respect to the subject of this chapter among states enacting this chapter.As added by P.L.267-1989, SEC.2.
IN Code § 30-2-8.5-39 (2021)
2021 Indiana Code|Title 30. Trusts and Fiduciaries|Article 2. General Provisions|Chapter 8.5. Indiana Uniform Transfers to Minors Act|30-2-8.5-39. Severability

Sec. 39. The provisions of this chapter are severable in the manner provided by IC 1-1-1-8(b).As added by P.L.267-1989, SEC.2.
IN Code § 30-2-8.5-40 (2021)
2021 Indiana Code|Title 30. Trusts and Fiduciaries|Article 2. General Provisions|Chapter 8.5. Indiana Uniform Transfers to Minors Act|30-2-8.5-40. Written Election Concerning Custodial Property

Sec. 40. (a) If a transferor:(1) has transferred property to a custodian for the benefit of a minor before July 1, 1989; and(2) has made or wishes to make further transfers of property to the same custodian for the benefit of the same minor after June 30, 1989;the transferor shall make a written election under subsection (b) concerning the custodial property.(b) A transferor may elect one (1) of the following:(1) The transferor may establish a new account under this chapter for only the property transferred after June 30, 1989.(2) The transferor may transfer the property transferred before July 1, 1989, into a new account established under this chapter and make further transfers of property into the account established under this subdivision.(3) The transferor may transfer property after June 30, 1989, into the account established before July 1, 1989. However, any property transferred into the account after June 30, 1989, is subject to this chapter.As added by P.L.137-1994, SEC.1.
IN Code § 30-2-8.6-1 (2021)
2021 Indiana Code|Title 30. Trusts and Fiduciaries|Article 2. General Provisions|Chapter 8.6. Uniform Custodial Trust Act|30-2-8.6-1. Applicability

Sec. 1. (a) This chapter applies to a transfer or declaration creating a custodial trust that refers to this chapter if, at the time of the transfer or declaration:(1) the transferor, beneficiary, or custodial trustee:(A) is a resident of; or(B) has its principal place of business in Indiana; or(2) custodial trust property is located in Indiana.(b) The custodial trust remains subject to this chapter even if the transferor, beneficiary, or custodial trustee:(1) changes its residence or principal place of business; or(2) removes custodial trust property;to a location outside Indiana.As added by P.L.3-2003, SEC.1.
IN Code § 30-2-8.6-2 (2021)
2021 Indiana Code|Title 30. Trusts and Fiduciaries|Article 2. General Provisions|Chapter 8.6. Uniform Custodial Trust Act|30-2-8.6-2. Transfer Under Other State's Law; Enforcement

Sec. 2. A transfer made pursuant to an act of another state substantially similar to this chapter is governed by the law of that state and may be enforced in Indiana.As added by P.L.3-2003, SEC.1.
IN Code § 30-2-8.6-3 (2021)
2021 Indiana Code|Title 30. Trusts and Fiduciaries|Article 2. General Provisions|Chapter 8.6. Uniform Custodial Trust Act|30-2-8.6-3. Construction

Sec. 3. 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.As added by P.L.3-2003, SEC.1.
IN Code § 30-2-8.6-4 (2021)
2021 Indiana Code|Title 30. Trusts and Fiduciaries|Article 2. General Provisions|Chapter 8.6. Uniform Custodial Trust Act|30-2-8.6-4. Citing Chapter

Sec. 4. This chapter may be cited as the "Indiana Uniform Custodial Trust Act".As added by P.L.3-2003, SEC.1.
IN Code § 30-2-8.6-5 (2021)
2021 Indiana Code|Title 30. Trusts and Fiduciaries|Article 2. General Provisions|Chapter 8.6. Uniform Custodial Trust Act|30-2-8.6-5. "Adult"

Sec. 5. As used in this chapter, "adult" means an individual who is at least eighteen (18) years of age.As added by P.L.3-2003, SEC.1.
IN Code § 30-2-8.6-6 (2021)
2021 Indiana Code|Title 30. Trusts and Fiduciaries|Article 2. General Provisions|Chapter 8.6. Uniform Custodial Trust Act|30-2-8.6-6. "Beneficiary"

Sec. 6. As used in this chapter, "beneficiary" means an individual for whom property:(1) has been transferred to; or(2) is held under a declaration of trust by;a custodial trustee for the individual's use and benefit under this chapter.As added by P.L.3-2003, SEC.1.
IN Code § 30-2-8.6-7 (2021)
2021 Indiana Code|Title 30. Trusts and Fiduciaries|Article 2. General Provisions|Chapter 8.6. Uniform Custodial Trust Act|30-2-8.6-7. "Custodial Trust Property"

Sec. 7. As used in this chapter, "custodial trust property" means the following:(1) An interest in property:(A) transferred to; or(B) held under a declaration of trust by;a custodial trustee under this chapter.(2) The income from and proceeds of the property interest described in subdivision (1).As added by P.L.3-2003, SEC.1.
IN Code § 30-2-8.6-8 (2021)
2021 Indiana Code|Title 30. Trusts and Fiduciaries|Article 2. General Provisions|Chapter 8.6. Uniform Custodial Trust Act|30-2-8.6-8. "Custodial Trustee"

Sec. 8. As used in this chapter, "custodial trustee" means a person designated as:(1) trustee; or(2) substitute or successor to the person designated as trustee;of a custodial trust under this chapter.As added by P.L.3-2003, SEC.1.
IN Code § 30-2-8.6-9 (2021)
2021 Indiana Code|Title 30. Trusts and Fiduciaries|Article 2. General Provisions|Chapter 8.6. Uniform Custodial Trust Act|30-2-8.6-9. "Guardian"

Sec. 9. As used in this chapter, "guardian" has the meaning set forth in IC 29-3-1-6.As added by P.L.3-2003, SEC.1.
IN Code § 30-2-8.6-10 (2021)
2021 Indiana Code|Title 30. Trusts and Fiduciaries|Article 2. General Provisions|Chapter 8.6. Uniform Custodial Trust Act|30-2-8.6-10. "Incapacitated"

Sec. 10. As used in this chapter, "incapacitated" has the meaning set forth in IC 29-3-1-7.5.As added by P.L.3-2003, SEC.1.
IN Code § 30-2-8.6-11 (2021)
2021 Indiana Code|Title 30. Trusts and Fiduciaries|Article 2. General Provisions|Chapter 8.6. Uniform Custodial Trust Act|30-2-8.6-11. "Legal Representative"

Sec. 11. As used in this chapter, "legal representative" means a personal representative or guardian.As added by P.L.3-2003, SEC.1.
IN Code § 30-2-8.6-12 (2021)
2021 Indiana Code|Title 30. Trusts and Fiduciaries|Article 2. General Provisions|Chapter 8.6. Uniform Custodial Trust Act|30-2-8.6-12. "Member of the Beneficiary's Family"

Sec. 12. As used in this chapter, "member of the beneficiary's family" means a beneficiary's spouse, descendant, stepchild, parent, stepparent, grandparent, brother, sister, uncle, or aunt, whether of whole or half blood or by adoption.As added by P.L.3-2003, SEC.1.
IN Code § 30-2-8.6-13 (2021)
2021 Indiana Code|Title 30. Trusts and Fiduciaries|Article 2. General Provisions|Chapter 8.6. Uniform Custodial Trust Act|30-2-8.6-13. "Person"

Sec. 13. As used in this chapter, "person" means an individual, corporation, business trust, estate, trust, partnership, joint venture, association, or any other legal or commercial entity.As added by P.L.3-2003, SEC.1.
IN Code § 30-2-8.6-14 (2021)
2021 Indiana Code|Title 30. Trusts and Fiduciaries|Article 2. General Provisions|Chapter 8.6. Uniform Custodial Trust Act|30-2-8.6-14. "Personal Representative"

Sec. 14. As used in this chapter, "personal representative" has the meaning set forth in IC 29-1-1-3.As added by P.L.3-2003, SEC.1.
IN Code § 30-2-8.6-15 (2021)
2021 Indiana Code|Title 30. Trusts and Fiduciaries|Article 2. General Provisions|Chapter 8.6. Uniform Custodial Trust Act|30-2-8.6-15. "State"

Sec. 15. As used in this chapter, "state" means a state, territory, or possession of the United States, the District of Columbia, or the Commonwealth of Puerto Rico.As added by P.L.3-2003, SEC.1.
IN Code § 30-2-8.6-16 (2021)
2021 Indiana Code|Title 30. Trusts and Fiduciaries|Article 2. General Provisions|Chapter 8.6. Uniform Custodial Trust Act|30-2-8.6-16. "Transferor"

Sec. 16. As used in this chapter, "transferor" means a person who creates a custodial trust by transfer or declaration.As added by P.L.3-2003, SEC.1.
IN Code § 30-2-8.6-17 (2021)
2021 Indiana Code|Title 30. Trusts and Fiduciaries|Article 2. General Provisions|Chapter 8.6. Uniform Custodial Trust Act|30-2-8.6-17. "Trust Company"

Sec. 17. As used in this chapter, "trust company" means a financial institution, corporation, or other legal entity authorized to exercise general trust powers.As added by P.L.3-2003, SEC.1.
IN Code § 30-2-8.6-18 (2021)
2021 Indiana Code|Title 30. Trusts and Fiduciaries|Article 2. General Provisions|Chapter 8.6. Uniform Custodial Trust Act|30-2-8.6-18. Creating a Custodial Trust

Sec. 18. (a) A person may create a custodial trust of property by a written transfer of the property to another person, evidenced by registration of the property or by an instrument of transfer that:(1) is executed in any lawful manner;(2) names an individual as beneficiary who may be the transferor; and(3) in substance, designates the transferee to be the custodial trustee of the property under this chapter.(b) A person may create a custodial trust of property by a written declaration evidenced by registration of the property or by another instrument of declaration that:(1) is executed in any lawful manner;(2) describes the property;(3) names as beneficiary an individual other than the declarant; and(4) in substance, designates the declarant, who is also the titleholder of the property, to be the custodial trustee of the property under this chapter.(c) A registration or other declaration of trust for the sole benefit of the declarant is not a custodial trust under this chapter.(d) Title to custodial trust property is in the custodial trustee and the beneficial interest is in the beneficiary.As added by P.L.3-2003, SEC.1.