reglab/statecodes huggingface dataset:
2023 Idaho Code › Title 68 - TRUSTS AND FIDUCIARIES › Chapter 12 - PRIVATE FOUNDATIONS AND CHARITABLE TRUSTS › Section 68-1203 - REQUIRED DISTRIBUTIONS.

68-1203. REQUIRED DISTRIBUTIONS. The trust instrument of each trust to which this act applies, except "split-interest" trusts, shall be deemed to contain a provision requiring the trustee to distribute, for the purposes specified in the trust instrument, for each taxable year of the trust, amounts at least sufficient to avoid liability for the tax imposed by section 4942(a) of the Internal Revenue Code of 1986.
History:
[68-1203, added 1974, ch. 73, sec. 3, p. 1154; am. 1994, ch. 190, sec. 3, p. 618.]
2023 Idaho Code › Title 68 - TRUSTS AND FIDUCIARIES › Chapter 12 - PRIVATE FOUNDATIONS AND CHARITABLE TRUSTS › Section 68-1204 - TRUSTEE MAY AMEND GOVERNING INSTRUMENT UNDER CERTAIN CIRCUMSTANCES.

68-1204. TRUSTEE MAY AMEND GOVERNING INSTRUMENT UNDER CERTAIN CIRCUMSTANCES. The trustee of a trust may, with the prior consent of the attorney general, amend the terms of the governing instrument to the extent necessary:
(a) To assure conformity of the governing instrument with the requirements for exemption from the taxes imposed in sections 4941 to 4945 of the Internal Revenue Code of 1986, including amendments which broaden, extend, reduce or limit the charitable purposes for which the trust is administered;
(b) To terminate the status of the trust as a private foundation in a manner described in section 507(b)(1) of the Internal Revenue Code of 1986; or
(c) To terminate the trust and transfer its assets to one (1) or more entities described in section 501(c)(3) of the Internal Revenue Code of 1986 because continuation is impractical due to its small size or impractical because of changed circumstances adversely impacting its purpose or purposes.
Prior to giving consent, the attorney general shall determine that the proposed amendments are necessary or appropriate to achieve the charitable purposes of the trust. If the trust is for the exclusive benefit of one (1) or more charitable organizations, or in the event there are one (1) or more residual beneficiaries, the trustee shall also obtain the prior consent of such organizations or individuals prior to amending the terms of the governing instrument in the manner set forth in this section. Further, notwithstanding the provisions of section 68-1201, Idaho Code, this section shall additionally apply to all trusts described in section 501(c)(3) of the Internal Revenue Code of 1986.
History:
[68-1204, added 1994, ch. 190, sec. 5, p. 618.]
2023 Idaho Code › Title 68 - TRUSTS AND FIDUCIARIES › Chapter 12 - PRIVATE FOUNDATIONS AND CHARITABLE TRUSTS › Section 68-1205 - COURTS AND ATTORNEY GENERAL NOT IMPAIRED.

68-1205. COURTS AND ATTORNEY GENERAL NOT IMPAIRED. Nothing in this act shall impair the rights and powers of the courts or the attorney general of this state with respect to any trust.
History:
[68-1205, added 1974, ch. 73, sec. 5, p. 1154.]
2023 Idaho Code › Title 68 - TRUSTS AND FIDUCIARIES › Chapter 12 - PRIVATE FOUNDATIONS AND CHARITABLE TRUSTS › Section 68-1206 - REFERENCES TO INTERNAL REVENUE CODE OF 1986.

68-1206. REFERENCES TO INTERNAL REVENUE CODE OF 1986. All references to sections of the Internal Revenue Code of 1986 shall refer to that term as it is now and hereafter defined in section 63-3004, Idaho Code.
History:
[68-1206, added 1974, ch. 73, sec. 6, p. 1154; am. 1994, ch. 190, sec. 6, p. 619.]
2023 Idaho Code › Title 68 - TRUSTS AND FIDUCIARIES › Chapter 12 - PRIVATE FOUNDATIONS AND CHARITABLE TRUSTS › Section 68-1207 - TRUST INSTRUMENTS OR PRIVATE FOUNDATION ARTICLES MAY PROVIDE THAT THIS LAW WILL NOT APPLY.

68-1207. TRUST INSTRUMENTS OR PRIVATE FOUNDATION ARTICLES MAY PROVIDE THAT THIS LAW WILL NOT APPLY. Nothing in this act shall limit the power of a person who creates a trust or the power of a person who has retained or has been granted the right to amend a trust to include a specific provision in the trust instrument or an amendment thereto which provides that some or all of the provisions of this act shall have no application to such trust.
History:
[68-1207, added 1974, ch. 73, sec. 7, p. 1154; am. 1994, ch. 190, sec. 7, p. 619.]
2023 Idaho Code › Title 68 - TRUSTS AND FIDUCIARIES › Chapter 13 - IDAHO UNIFORM CUSTODIAL TRUST ACT › Section 68-1301 - DEFINITIONS.

68-1301. DEFINITIONS. As used in this chapter:
(1) "Adult" means an individual who is at least eighteen (18) years of age.
(2) "Beneficiary" means an individual for whom property has been transferred to or held under a declaration of trust by a custodial trustee for the individual’s use and benefit under this chapter.
(3) "Conservator" means a person appointed or qualified by a court to manage the estate of an individual or a person legally authorized to perform substantially the same functions.
(4) "Court" means the district court of this state.
(5) "Custodial trust property" means an interest in property transferred to or held under a declaration of trust by a custodial trustee under this chapter and the income from and proceeds of that interest.
(6) "Custodial trustee" means a person designated as trustee of a custodial trust under this chapter or a substitute or successor to the person designated.
(7) "Guardian" means a person appointed or qualified by a court as a guardian of an individual, including a limited guardian, but not a person who is only a guardian ad litem.
(8) "Incapacitated" means lacking the ability to manage property and business affairs effectively by reason of mental illness, mental disability, physical illness or disability, chronic use of drugs, chronic intoxication, confinement, detention by a foreign power, disappearance, minority, or other disabling cause.
(9) "Legal representative" means a personal representative or conservator.
(10) "Member of the beneficiary’s family" means a beneficiary’s spouse, descendant, stepchild, parent, stepparent, grandparent, brother, sister, uncle, or aunt, whether of the whole or half blood or by adoption.
(11) "Person" means an individual, corporation, business trust, estate, trust, partnership, joint venture, association, or any other legal or commercial entity.
(12) "Personal representative" means an executor, administrator, or special administrator of a decedent’s estate, a person legally authorized to perform substantially the same functions, or a successor to any of them.
(13) "State" means a state, territory, or possession of the United States, the District of Columbia, or the Commonwealth of Puerto Rico.
(14) "Transferor" means a person who creates a custodial trust by transfer or declaration.
(15) "Trust company" means a financial institution, corporation, or other legal entity, authorized to exercise general trust powers.
History:
[68-1301, added 1989, ch. 230, sec. 1, p. 548; am. 2010, ch. 235, sec. 67, p. 602.]
2023 Idaho Code › Title 68 - TRUSTS AND FIDUCIARIES › Chapter 13 - IDAHO UNIFORM CUSTODIAL TRUST ACT › Section 68-1302 - CUSTODIAL TRUST — GENERAL.

68-1302. CUSTODIAL TRUST — GENERAL. (1) A person may create a custodial trust of property by a written transfer of the property to another person, evidenced by registration or by other instrument of transfer, executed in any lawful manner, naming as beneficiary, an individual who may be the transferor, in which the transferee is designated, in substance, as custodial trustee under the Idaho uniform custodial trust act.
(2) A person may create a custodial trust of property by a written declaration, evidenced by registration of the property or by other instrument of declaration executed in any lawful manner, describing the property and naming as beneficiary an individual other than the declarant, in which the declarant as titleholder is designated, in substance, as custodial trustee under the Idaho uniform custodial trust act. A registration or other declaration of trust for the sole benefit of the declarant is not a custodial trust under this chapter.
(3) Title to custodial trust property is in the custodial trustee and the beneficial interest is in the beneficiary.
(4) Except as provided in subsection (5) of this section, a transferor may not terminate a custodial trust.
(5) The beneficiary, if not incapacitated, or the conservator of an incapacitated beneficiary may terminate a custodial trust by delivering to the custodial trustee a writing signed by the beneficiary or conservator declaring the termination. If not previously terminated, the custodial trust terminates on the death of the beneficiary.
(6) Any person may augment existing custodial trust property by the addition of other property pursuant to this chapter.
(7) The transferor may designate, or authorize the designation of, a successor custodial trustee in the trust instrument.
(8) This chapter does not displace or restrict other means of creating trusts. A trust whose terms do not conform to this chapter may be enforceable according to its terms under other law.
History:
[68-1302, added 1989, ch. 230, sec. 1, p. 549.]
2023 Idaho Code › Title 68 - TRUSTS AND FIDUCIARIES › Chapter 13 - IDAHO UNIFORM CUSTODIAL TRUST ACT › Section 68-1303 - CUSTODIAL TRUSTEE FOR FUTURE PAYMENT OR TRANSFER.

68-1303. CUSTODIAL TRUSTEE FOR FUTURE PAYMENT OR TRANSFER. (1) A person having the right to designate the recipient of property payable or transferable upon a future event may create a custodial trust upon the occurrence of the future event by designating in writing the recipient, followed in substance by: "as custodial trustee for (name of beneficiary) under the Idaho uniform custodial trust act."
(2) Persons may be designated as substitute or successor custodial trustees to whom the property must be paid or transferred in the order named if the first designated custodial trustee is unable or unwilling to serve.
(3) A designation under this section may be made in a will, a trust, a deed, a multiple-party account, an insurance policy, an instrument exercising a power of appointment, or a writing designating a beneficiary of contractual rights. Otherwise, to be effective, the designation must be registered with or delivered to the fiduciary, payor, issuer, or obligor of the future right.
History:
[68-1303, added 1989, ch. 230, sec. 1, p. 549.]
2023 Idaho Code › Title 68 - TRUSTS AND FIDUCIARIES › Chapter 13 - IDAHO UNIFORM CUSTODIAL TRUST ACT › Section 68-1304 - FORM AND EFFECT OF RECEIPT AND ACCEPTANCE BY CUSTODIAL TRUSTEE — JURISDICTION.

68-1304. FORM AND EFFECT OF RECEIPT AND ACCEPTANCE BY CUSTODIAL TRUSTEE — JURISDICTION. (1) Obligations of a custodial trustee, including the obligation to follow directions of the beneficiary, arise under this chapter upon the custodial trustee’s acceptance, express or implied, of the custodial trust property.
(2) The custodial trustee’s acceptance may be evidenced by a writing stating in substance:
CUSTODIAL TRUSTEE’S RECEIPT AND ACCEPTANCE
I, …..(name of custodial trustee)….. acknowledge receipt of the custodial trust property described below or in the attached instrument and accept the custodial trust as custodial trustee for …..(name of beneficiary)….. under the Idaho Uniform Custodial Trust Act. I undertake to administer and distribute the custodial trust property pursuant to the Idaho Uniform Custodial Trust Act. My obligations as custodial trustee are subject to the directions of the beneficiary unless the beneficiary is designated as, is, or becomes incapacitated. The custodial trust property consists of ……………………
Dated: ……………………….
……………………………..
(Signature of Custodial Trustee)
(3) Upon accepting custodial trust property, a person designated as custodial trustee under this chapter is subject to personal jurisdiction of the court with respect to any matter relating to the custodial trust.
History:
[68-1304, added 1989, ch. 230, sec. 1, p. 550.]
2023 Idaho Code › Title 68 - TRUSTS AND FIDUCIARIES › Chapter 13 - IDAHO UNIFORM CUSTODIAL TRUST ACT › Section 68-1305 - TRANSFER TO CUSTODIAL TRUSTEE BY FIDUCIARY OR OBLIGOR — FACILITY OF PAYMENT.

68-1305. TRANSFER TO CUSTODIAL TRUSTEE BY FIDUCIARY OR OBLIGOR — FACILITY OF PAYMENT. (1) Unless otherwise directed by an instrument designating a custodial trustee pursuant to section 68-1303, Idaho Code, a person including a fiduciary other than a custodial trustee, who holds property of or owes a debt to an incapacitated individual not having a conservator may make a transfer to an adult member of the beneficiary’s family or to a trust company as custodial trustee for the use and benefit of the incapacitated individual. If the value of the property or the debt exceeds twenty thousand dollars ($20,000), the transfer is not effective unless authorized by the court.
(2) A written acknowledgment of delivery, signed by a custodial trustee, is a sufficient receipt and discharge for property transferred to the custodial trustee pursuant to this section.
History:
[68-1305, added 1989, ch. 230, sec. 1, p. 550.]
2023 Idaho Code › Title 68 - TRUSTS AND FIDUCIARIES › Chapter 13 - IDAHO UNIFORM CUSTODIAL TRUST ACT › Section 68-1306 - MULTIPLE BENEFICIARIES — SEPARATE CUSTODIAL TRUSTS — SURVIVORSHIP.

68-1306. MULTIPLE BENEFICIARIES — SEPARATE CUSTODIAL TRUSTS — SURVIVORSHIP. (1) Beneficial interests in a custodial trust created for multiple beneficiaries are deemed to be separate custodial trusts of equal undivided interests for each beneficiary. Except in a transfer or declaration for use and benefit of husband and wife, for whom survivorship is presumed, a right of survivorship does not exist unless the instrument creating the custodial trust specifically provides for survivorship or survivorship is required as to community or marital property.
(2) Custodial trust property held under this chapter by the same custodial trustee for the use and benefit of the same beneficiary may be administered as a single custodial trust.
(3) A custodial trustee of custodial trust property held for more than one (1) beneficiary shall separately account to each beneficiary pursuant to sections 68-1307 and 68-1315, Idaho Code, for the administration of the custodial trust.
History:
[68-1306, added 1989, ch. 230, sec. 1, p. 550.]
2023 Idaho Code › Title 68 - TRUSTS AND FIDUCIARIES › Chapter 13 - IDAHO UNIFORM CUSTODIAL TRUST ACT › Section 68-1307 - GENERAL DUTIES OF CUSTODIAL TRUSTEE.

68-1307. GENERAL DUTIES OF CUSTODIAL TRUSTEE. (1) If appropriate, a custodial trustee shall register or record the instrument vesting title to custodial trust property.
(2) If the beneficiary is not incapacitated, a custodial trustee shall follow the directions of the beneficiary in the management, control, investment, or retention of the custodial trust property. In the absence of effective contrary direction by the beneficiary while not incapacitated, the custodial trustee 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 law restricting investments by fiduciaries. However, a custodial trustee, in the custodial trustee’s discretion, may retain any custodial trust property received from the transferor. If a custodial trustee has a special skill or expertise or is named custodial trustee on the basis of representation of a special skill or expertise, the custodial trustee shall use that skill or expertise.
(3) Subject to subsection (2) of this section, a custodial trustee shall take control of and collect, hold, manage, invest, and reinvest custodial trust property.
(4) A custodial trustee at all times shall keep custodial trust property of which the custodial trustee has control, separate from all other property in a manner sufficient to identify it clearly as custodial trust property of the beneficiary. Custodial trust property, the title to which is subject to recordation, is so identified if an appropriate instrument so identifying the property is recorded, and custodial trust property subject to registration is so identified if it is registered, or held in an account in the name of the custodial trustee, designated in substance: "as custodial trustee for (name of beneficiary) under the Idaho uniform custodial trust act."
(5) A custodial trustee shall keep records of all transactions with respect to custodial trust property, including information necessary for the preparation of tax returns, and shall make the records and information available at reasonable times to the beneficiary or legal representative of the beneficiary.
(6) The exercise of a durable power of attorney for an incapacitated beneficiary is not effective to terminate or direct the administration or distribution of a custodial trust.
History:
[68-1307, added 1989, ch. 230, sec. 1, p. 551.]
2023 Idaho Code › Title 68 - TRUSTS AND FIDUCIARIES › Chapter 13 - IDAHO UNIFORM CUSTODIAL TRUST ACT › Section 68-1308 - GENERAL POWERS OF CUSTODIAL TRUSTEE.

68-1308. GENERAL POWERS OF CUSTODIAL TRUSTEE. (1) A custodial trustee, acting in a fiduciary capacity, has all the rights and powers over custodial trust property which an unmarried adult owner has over individually owned property, but a custodial trustee may exercise those rights and powers in a fiduciary capacity only.
(2) The provisions of this section do not relieve a custodial trustee from liability for a violation of section 68-1307, Idaho Code.
History:
[68-1308, added 1989, ch. 230, sec. 1, p. 552.]
2023 Idaho Code › Title 68 - TRUSTS AND FIDUCIARIES › Chapter 13 - IDAHO UNIFORM CUSTODIAL TRUST ACT › Section 68-1309 - USE OF CUSTODIAL TRUST PROPERTY.

68-1309. USE OF CUSTODIAL TRUST PROPERTY. (1) A custodial trustee shall pay to the beneficiary or expend for the beneficiary’s use and benefit so much or all of the custodial trust property as the beneficiary while not incapacitated may direct from time to time.
(2) If the beneficiary is incapacitated, the custodial trustee shall expend so much or all of the custodial trust property as the custodial trustee considers advisable for the use and benefit of the beneficiary and individuals who were supported by the beneficiary when the beneficiary became incapacitated, or who are legally entitled to support by the beneficiary. Expenditures may be made in the manner, when, and to the extent that the custodial trustee determines suitable and proper, without court order and without regard to other support, income, or property of the beneficiary.
(3) A custodial trustee may establish checking, savings, or other similar accounts of reasonable amounts under which either the custodial trustee or the beneficiary may withdraw funds from, or draw checks against, the accounts. Funds withdrawn from, or checks written against, the account by the beneficiary are distributions of custodial trust property by the custodial trustee to the beneficiary.
History:
[68-1309, added 1989, ch. 230, sec. 1, p. 552.]
2023 Idaho Code › Title 68 - TRUSTS AND FIDUCIARIES › Chapter 13 - IDAHO UNIFORM CUSTODIAL TRUST ACT › Section 68-1310 - DETERMINATION OF INCAPACITY — EFFECT.

68-1310. DETERMINATION OF INCAPACITY — EFFECT. (1) The custodial trustee shall administer the custodial trust as for an incapacitated beneficiary if (i) the custodial trust was created under section 68-1305, Idaho Code, (ii) the transferor has so directed in the instrument creating the custodial trust, or (iii) the custodial trustee has determined that the beneficiary is incapacitated.
(2) A custodial trustee may determine that the beneficiary is incapacitated in reliance upon (i) previous direction or authority given by the beneficiary while not incapacitated, including direction or authority pursuant to a durable power of attorney, (ii) the certificate of the beneficiary’s physician, or (iii) other persuasive evidence.
(3) If a custodial trustee for an incapacitated beneficiary reasonably concludes that the beneficiary’s incapacity has ceased, or that circumstances concerning the beneficiary’s ability to manage property and business affairs have changed since the creation of a custodial trust directing administration as for an incapacitated beneficiary, the custodial trustee may administer the trust as for a beneficiary who is not incapacitated.
(4) On petition of the beneficiary, the custodial trustee, or other person interested in the custodial trust property or the welfare of the beneficiary, the court shall determine whether the beneficiary is incapacitated.
(5) Absent determination of incapacity of the beneficiary under subsection (2) or (4) of this section, a custodial trustee who has reason to believe that the beneficiary is incapacitated shall administer the custodial trust in accordance with the provisions of this chapter applicable to an incapacitated beneficiary.
(6) Incapacity of a beneficiary does not terminate (i) the custodial trust, (ii) any designation of a successor custodial trustee, (iii) rights or powers of the custodial trustee, or (iv) any immunities of third persons acting on instructions of the custodial trustee.
History:
[68-1310, added 1989, ch. 230, sec. 1, p. 552.]
2023 Idaho Code › Title 68 - TRUSTS AND FIDUCIARIES › Chapter 13 - IDAHO UNIFORM CUSTODIAL TRUST ACT › Section 68-1311 - EXEMPTION OF THIRD PERSON FROM LIABILITY.

68-1311. EXEMPTION OF THIRD PERSON FROM LIABILITY. A third person in good faith and without a court order may act on instructions of, or otherwise deal with, a person purporting to make a transfer as, or purporting to act in the capacity of, a custodial trustee. In the absence of knowledge to the contrary, the third person is not responsible for determining:
(1) The validity of the purported custodial trustee’s designation;
(2) The propriety of, or the authority under this chapter for, any action of the purported custodial trustee;
(3) The validity or propriety of an instrument executed or instruction given pursuant to this chapter either by the person purporting to make a transfer or declaration or by the purported custodial trustee; or
(4) The propriety of the application of property vested in the purported custodial trustee.
History:
[68-1311, added 1989, ch. 230, sec. 1, p. 553.]
2023 Idaho Code › Title 68 - TRUSTS AND FIDUCIARIES › Chapter 13 - IDAHO UNIFORM CUSTODIAL TRUST ACT › Section 68-1312 - LIABILITY TO THIRD PERSON.

68-1312. LIABILITY TO THIRD PERSON. (1) A claim based on a contract entered into by a custodial trustee acting in a fiduciary capacity, an obligation arising from the ownership or control of custodial trust property, or a tort committed in the course of administering the custodial trust, may be asserted by a third person against the custodial trust property by proceeding against the custodial trustee in a fiduciary capacity, whether or not the custodial trustee or the beneficiary is personally liable.
(2) A custodial trustee is not personally liable to a third person:
(a) On a contract properly entered into in a fiduciary capacity unless the custodial trustee fails to reveal that capacity or to identify the custodial trust in the contract; or
(b) For an obligation arising from control of custodial trust property or for a tort committed in the course of the administration of the custodial trust unless the custodial trustee is personally at fault.
(3) A beneficiary is not personally liable to a third person for an obligation arising from beneficial ownership of custodial trust property or for a tort committed in the course of administration of the custodial trust unless the beneficiary is personally in possession of the custodial trust property giving rise to the liability or is personally at fault.
(4) The provisions of subsections (2) and (3) of this section do not preclude actions or proceedings to establish liability of the custodial trustee or beneficiary to the extent the person sued is protected as the insured by liability insurance.
History:
[68-1312, added 1989, ch. 230, sec. 1, p. 553.]
2023 Idaho Code › Title 68 - TRUSTS AND FIDUCIARIES › Chapter 13 - IDAHO UNIFORM CUSTODIAL TRUST ACT › Section 68-1314 - EXPENSES, COMPENSATION AND BOND OF CUSTODIAL TRUSTEE.

68-1314. EXPENSES, COMPENSATION AND BOND OF CUSTODIAL TRUSTEE. Except as otherwise provided in the instrument creating the custodial trust, in an agreement with the beneficiary, or by court order, a custodial trustee:
(1) Is entitled to reimbursement from custodial trust property for reasonable expenses incurred in the performance of fiduciary services;
(2) Has a noncumulative election, to be made no later than six (6) months after the end of each calendar year, to charge a reasonable compensation for fiduciary services performed during that year; and
(3) Need not furnish a bond or other security for the faithful performance of fiduciary duties.
History:
[68-1314, added 1989, ch. 230, sec. 1, p. 555.]
2023 Idaho Code › Title 68 - TRUSTS AND FIDUCIARIES › Chapter 13 - IDAHO UNIFORM CUSTODIAL TRUST ACT › Section 68-1315 - REPORTING AND ACCOUNTING BY CUSTODIAL TRUSTEE — DETERMINATION OF LIABILITY OF CUSTODIAL TRUSTEE.

68-1315. REPORTING AND ACCOUNTING BY CUSTODIAL TRUSTEE — DETERMINATION OF LIABILITY OF CUSTODIAL TRUSTEE. (1) Upon the acceptance of custodial trust property, the custodial trustee shall provide a written statement describing the custodial trust property and shall thereafter provide a written statement of the administration of the custodial trust property (i) once each year, (ii) upon request at reasonable times by the beneficiary or the beneficiary’s legal representative, (iii) upon resignation or removal of the custodial trustee, and (iv) upon termination of the custodial trust. The statements must be provided to the beneficiary or to the beneficiary’s legal representative, if any. Upon termination of the beneficiary’s interest, the custodial trustee shall furnish a current statement to the person to whom the custodial trustee property is to be delivered.
(2) A beneficiary, the beneficiary’s legal representative, an adult member of the beneficiary’s family, a person interested in the custodial trust property, or a person interested in the welfare of the beneficiary may petition the court for an accounting by the custodial trustee or the custodial trustee’s legal representative.
(3) A successor custodial trustee may petition the court for an accounting by a predecessor custodial trustee.
(4) In an action or proceeding under this chapter or in any other proceeding, the court may require or permit the custodial trustee or the custodial trustee’s legal representative to account. The custodial trustee or the custodial trustee’s legal representative may petition the court for approval of final accounts.
(5) If a custodial trustee is removed, the court shall require an accounting and order delivery of the custodial trust property and records to the successor custodial trustee and the execution of all instruments required for transfer of the custodial trust property.
(6) On petition of the custodial trustee or any person who could petition for an accounting, the court, after notice to interested persons, may issue instructions to the custodial trustee or review the propriety of the acts of a custodial trustee or the reasonableness of compensation determined by the custodial trustee for the services of the custodial trustee or others.
History:
[68-1315, added 1989, ch. 230, sec. 1, p. 555.]
2023 Idaho Code › Title 68 - TRUSTS AND FIDUCIARIES › Chapter 13 - IDAHO UNIFORM CUSTODIAL TRUST ACT › Section 68-1316 - LIMITATIONS OF ACTION AGAINST CUSTODIAL TRUSTEE.

68-1316. LIMITATIONS OF ACTION AGAINST CUSTODIAL TRUSTEE. (1) Except as provided in subsection (3) of this section, unless previously barred by adjudication, consent, or limitation, a claim for relief against a custodial trustee for accounting or breach of duty is barred as to a beneficiary, a person to whom custodial trust property is to be paid or delivered, or the legal representative of an incapacitated or deceased beneficiary or payee:
(a) Who has received a final account or statement fully disclosing the matter unless an action or proceeding to assert the claim is commenced within two (2) years after receipt of the final account or statement; or
(b) Who has not received a final account or statement fully disclosing the matter unless an action or proceeding to assert the claim is commenced within three (3) years after the termination of the custodial trust.
(2) Except as provided in subsection (3) of this section, a claim for relief to recover from a custodial trustee for fraud, misrepresentation, or concealment related to the final settlement of the custodial trust or concealment of the existence of the custodial trust, is barred unless an action or proceeding to assert the claim is commenced within five (5) years after the termination of the custodial trust.
(3) A claim for relief is not barred by this section if the claimant:
(a) Is a minor, until the earlier of two (2) years after the claimant becomes an adult or dies;
(b) Is an incapacitated adult, until the earliest of two (2) years after (i) the appointment of a conservator, (ii) the removal of the incapacity, or (iii) the death of the claimant; or
(c) Was an adult, now deceased, who was not incapacitated, until two (2) years after the claimant’s death.
History:
[68-1316, added 1989, ch. 230, sec. 1, p. 556.]
2023 Idaho Code › Title 68 - TRUSTS AND FIDUCIARIES › Chapter 13 - IDAHO UNIFORM CUSTODIAL TRUST ACT › Section 68-1317 - DISTRIBUTION ON TERMINATION.

68-1317. DISTRIBUTION ON TERMINATION. (1) Upon termination of a custodial trust, the custodial trustee shall transfer the unexpended custodial trust property:
(a) To the beneficiary, if not incapacitated or deceased;
(b) To the conservator or other recipient designated by the court for an incapacitated beneficiary; or
(c) Upon the beneficiary’s death, in the following order:
(i) As last directed in a writing signed by the deceased beneficiary while not incapacitated and received by the custodial trustee during the life of the deceased beneficiary;
(ii) To the survivor of multiple beneficiaries if survivorship is provided for pursuant to section 68-1306, Idaho Code;
(iii) As designated in the instrument creating the custodial trust; or
(iv) To the estate of the deceased beneficiary.
(2) If, when the custodial trust would otherwise terminate, the distributee is incapacitated, the custodial trust continues for the use and benefit of the distributee as beneficiary until the incapacity is removed or the custodial trust is otherwise terminated.
(3) Death of the beneficiary does not terminate the power of the custodial trustee to discharge obligations of the custodial trustee or beneficiary incurred before the termination of the custodial trust.
History:
[68-1317, added 1989, ch. 230, sec. 1, p. 556.]
2023 Idaho Code › Title 68 - TRUSTS AND FIDUCIARIES › Chapter 13 - IDAHO UNIFORM CUSTODIAL TRUST ACT › Section 68-1319 - APPLICABLE LAW.

68-1319. APPLICABLE LAW. (1) 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, the transferor, beneficiary, or custodial trustee is a resident of or has its principal place of business in this state or custodial trust property is located in this state. The custodial trust remains subject to this chapter despite a later change in residence or principal place of business of the transferor, beneficiary, or custodial trustee, or removal of the custodial trust property from this state.
(2) A transfer made pursuant to an act of another state substantially similar to the provisions of this chapter is governed by the law of that state and may be enforced in this state.
History:
[68-1319, added 1989, ch. 230, sec. 1, p. 559.]
2023 Idaho Code › Title 68 - TRUSTS AND FIDUCIARIES › Chapter 13 - IDAHO UNIFORM CUSTODIAL TRUST ACT › Section 68-1320 - UNIFORMITY OF APPLICATION AND CONSTRUCTION.

68-1320. UNIFORMITY OF APPLICATION AND CONSTRUCTION. 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.
History:
[68-1320, added 1989, ch. 230, sec. 1, p. 559.]
2023 Idaho Code › Title 68 - TRUSTS AND FIDUCIARIES › Chapter 13 - IDAHO UNIFORM CUSTODIAL TRUST ACT › Section 68-1321 - SHORT TITLE.

68-1321. SHORT TITLE. This chapter may be cited as the "Idaho Uniform Custodial Trust Act."
History:
[68-1321, added 1989, ch. 230, sec. 1, p. 559.]
2023 Idaho Code › Title 68 - TRUSTS AND FIDUCIARIES › Chapter 13 - IDAHO UNIFORM CUSTODIAL TRUST ACT › Section 68-1322 - SEVERABILITY.

68-1322. SEVERABILITY. If any provision 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 the provisions of this chapter are severable.
History:
[68-1322, added 1989, ch. 230, sec. 1, p. 559.]
2023 Idaho Code › Title 68 - TRUSTS AND FIDUCIARIES › Chapter 14 - COURT APPROVED PAYMENTS OR AWARDS TO MINORS OR INCOMPETENT PERSONS › Section 68-1401 - APPLICATION.

68-1401. APPLICATION. The provisions of this chapter apply when:
(1) A court approves a compromise of a judgment on a disputed claim of a minor or incompetent person, the execution of a release of a claim or covenant not to enforce a judgment on a claim of a minor or incompetent person, a compromise of a pending action or proceeding to which a minor or incompetent person is a party, or when a court awards judgment for a minor or incompetent person; and
(2) The compromise, release, covenant or judgment provides for the payment or delivery of money or property for the benefit of the minor or incompetent person.
History:
[68-1401, added 1995, ch. 214, sec. 1, p. 743.]
2023 Idaho Code › Title 68 - TRUSTS AND FIDUCIARIES › Chapter 14 - COURT APPROVED PAYMENTS OR AWARDS TO MINORS OR INCOMPETENT PERSONS › Section 68-1402 - ORDER DIRECTING PAYMENT OF EXPENSES, COSTS AND FEES.

68-1402. ORDER DIRECTING PAYMENT OF EXPENSES, COSTS AND FEES. (1) As part of the order approving a compromise, release, covenant or judgment pursuant to this chapter, the court shall also order that the reasonable and necessary expenses of the minor or incompetent person including, but not limited to, medical expenses, reimbursement to a parent, guardian, or conservator, and attorney’s fees and costs approved by the court, shall be paid from the money or property to be paid or delivered for the benefit of the minor or incompetent person.
(2) The order for payment of expenses may be directed to the following:
(a) A parent or guardian of a minor or incompetent person or a guardianship or conservatorship of the estate of a minor or incompetent person; or
(b) The payor of money or property pursuant to the compromise, covenant, or judgment for the benefit of the minor or incompetent person.
History:
[68-1402, added 1995, ch. 214, sec. 1, p. 743.]
2023 Idaho Code › Title 68 - TRUSTS AND FIDUCIARIES › Chapter 14 - COURT APPROVED PAYMENTS OR AWARDS TO MINORS OR INCOMPETENT PERSONS › Section 68-1403 - DISPOSITION OF BALANCE.

68-1403. DISPOSITION OF BALANCE. (1) If there is no guardianship or conservatorship of the estate of the minor or incompetent person, the balance of the money or property, after payment of all expenses approved by the court pursuant to this chapter, shall be paid, delivered or deposited in the manner the court determines in its discretion is in the best interest of the minor or incompetent person, including the creation of a special needs trust.
(2) Except as provided in this section, if there is a guardianship or conservatorship of the estate of the minor or incompetent person, the balance of the money or property remaining after payment of expenses approved by the court pursuant to this chapter shall be paid or delivered to the guardian or conservator of the estate.
(3) Upon an ex parte petition filed by the guardian, conservator or any person interested in the guardianship or conservatorship estate, the court making an order or awarding judgment pursuant to this chapter may for good cause shown, order either or both of the following:
(a) That, after payment of expenses, all or part of the balance of money or property shall not become part of the guardianship or conservatorship estate and instead shall be deposited in an insured account in a financial institution in Idaho, or in a single premium deferred annuity, subject to withdrawal only when authorized by the court.
(b) If there exists a guardianship of the estate of the minor, the court may order that, after payment of expenses, all or part of the balance of money or property not become part of the guardianship estate and instead be transferred to a custodian for the benefit of the minor under the Idaho uniform transfers to minors act, chapter 8, title 68, Idaho Code.
(4) Upon a petition by the guardian, conservator, or any person interested in the guardianship or conservatorship estate, the court making an order or awarding judgment pursuant to this chapter may order that, after payment of expenses, all or part of the balance of money or property not become part of the guardianship or conservatorship estate and instead be paid to a special needs trust.
(5) Notice of the time and place of hearing on a petition filed pursuant to this section, and a copy of the petition, shall be mailed to the director of the Idaho department of health and welfare at least fifteen (15) days before the hearing.
History:
[68-1403, added 1995, ch. 214, sec. 1, p. 743.]
2023 Idaho Code › Title 68 - TRUSTS AND FIDUCIARIES › Chapter 14 - COURT APPROVED PAYMENTS OR AWARDS TO MINORS OR INCOMPETENT PERSONS › Section 68-1404 - INCOMPETENT PERSONS.

68-1404. INCOMPETENT PERSONS. References in this chapter to "incompetent person," shall be deemed to include persons for whom a conservator may be appointed pursuant to section 15-5-401, Idaho Code.
History:
[68-1404, added 1995, ch. 214, sec. 1, p. 744.]
2023 Idaho Code › Title 68 - TRUSTS AND FIDUCIARIES › Chapter 14 - COURT APPROVED PAYMENTS OR AWARDS TO MINORS OR INCOMPETENT PERSONS › Section 68-1405 - SPECIAL NEEDS TRUSTS — REQUIREMENTS — JURISDICTION OF COURT — COURT ORDERS.

68-1405. SPECIAL NEEDS TRUSTS — REQUIREMENTS — JURISDICTION OF COURT — COURT ORDERS. (1) If a court orders that money of a minor or incompetent person be paid to a special needs trust, the terms of the trust shall be reviewed and approved by the court and shall satisfy the requirements of this section. The trust shall be subject to the continuing jurisdiction of the court, and is subject to court supervision to the extent determined by the court. The court may transfer jurisdiction to the court in the county where the minor or incompetent person resides.
(2) A special needs trust may be established and continued under this section only if the court determines all of the following:
(a) That the minor or incompetent person has a disability that substantially impairs the individual’s ability to provide for the individual’s own care or custody;
(b) That the minor or incompetent person is likely to have special needs that will not be met without the trust; and
(c) That money to be paid to the trust does not exceed the amount that appears reasonably necessary to meet the special needs of the minor or incompetent person.
(3) If at any time it appears that:
(a) Any of the requirements of this section are not satisfied or the trustee refuses without good cause to make payments from the trust for the special needs of the beneficiary; and
(b) That the Idaho department of health and welfare or a county or city in this state has a claim against trust property, then the Idaho department of health and welfare, the county or the city may petition the court for an order terminating the trust.
(4) A court order for payment of money or property to a special needs trust shall include a provision that all statutory liens properly perfected at the time of the court’s order, and in favor of the Idaho department of health and welfare or any county or city of this state, shall be satisfied first.
History:
[68-1405, added 1995, ch. 214, sec. 1, p. 744; am. 2010, ch. 235, sec. 68, p. 603.]
2023 Idaho Code › Title 69 - WAREHOUSES › Chapter 2 - BONDED WAREHOUSE LAW › Section 69-201 - SHORT TITLE OF ACT.

69-201. SHORT TITLE OF ACT. This act shall be known by the short title of bonded warehouse law.
History:
[(69-201) 1919, ch. 152, sec. 1, p. 484; C.S., sec. 6178; I.C.A., sec. 67-201.]
2023 Idaho Code › Title 69 - WAREHOUSES › Chapter 2 - BONDED WAREHOUSE LAW › Section 69-203 - LICENSE NECESSARY TO OPERATE PUBLIC WAREHOUSE.

69-203. LICENSE NECESSARY TO OPERATE PUBLIC WAREHOUSE. Before a person can lawfully operate a public warehouse in this state, he must procure a license under this chapter; provided however, that the foregoing requirement as to licenses is not applicable to any warehouse or warehouseman who is licensed under an act of congress approved August 11, 1916 (39 Statutes at Large 44 [486]) and acts amendatory thereof, commonly called the "United States Warehouse Act," and who is licensed under chapter 5, title 69, Idaho Code.
History:
[(69-203) 1919, ch. 152, sec. 3, p. 484; C.S., sec. 6180; I.C.A., sec. 67-203; am. 1933, ch. 167, sec. 2, p. 298; am. 1947, ch. 70, sec. 1, p. 112; am. 1949, ch. 268, sec. 1, p. 538; am. 1983, ch. 44, sec. 2, p. 105.]
2023 Idaho Code › Title 69 - WAREHOUSES › Chapter 2 - BONDED WAREHOUSE LAW › Section 69-204 - PENALTY FOR OPERATING WITHOUT A LICENSE — MISREPRESENTATION.

69-204. PENALTY FOR OPERATING WITHOUT A LICENSE — MISREPRESENTATION. (1) Any person operating a public warehouse without a license or in any way representing, by actions or words, that the warehouse is so licensed when such warehouse is not so licensed or any person who shall misrepresent, forge, alter, counterfeit or falsely represent a license as required by the provisions of this chapter shall be guilty of a felony and punished by imprisonment in the state prison for not more than ten (10) years, or by a fine of not more than ten thousand dollars ($10,000), or by both.
(2) Any person who shall issue, utter, or aid in the issuance or utterance or attempt to issue or utter a false or fraudulent receipt for any commodity shall be guilty of a felony and punished by imprisonment in the state prison for not more than ten (10) years, or by a fine of not more than ten thousand dollars ($10,000), or by both.
History:
[69-204, added 1982, ch. 25, sec. 3, p. 34; am. 1983, ch. 44, sec. 3, p. 105; am. 2002, ch. 259, sec. 2, p. 760.]
2023 Idaho Code › Title 69 - WAREHOUSES › Chapter 2 - BONDED WAREHOUSE LAW › Section 69-205 - INSPECTION AND CLASSIFICATION OF WAREHOUSES, STORAGE, WAREHOUSING, WEIGHING AND CERTIFICATION OF COMMODITIES — DUTIES OF WAREHOUSEMEN.

69-205. INSPECTION AND CLASSIFICATION OF WAREHOUSES, STORAGE, WAREHOUSING, WEIGHING AND CERTIFICATION OF COMMODITIES — DUTIES OF WAREHOUSEMEN. Upon application by any person for license to conduct a warehouse under this chapter, the department is authorized to investigate and determine whether the public warehouse for which licenses are applied, or have been previously issued, under this chapter, is suitable for the proper storage of agricultural commodities and the department is authorized with or without application, to wit:
To inspect any warehouse licensed under this chapter; to inspect every licensed warehouse at least once every calendar year; to investigate the storage, warehousing, classifying according to grade, and otherwise weighing and certification of agricultural commodities therein conducted; to classify warehouses, licensed or applying for license, in accordance with their capacity and to prescribe, within the limitations of this chapter, the duties of the warehousemen conducting warehouses licensed under this chapter with respect to their care of and responsibility for agricultural commodities.
History:
[(69-205) 1919, ch. 152, sec. 5, p. 484; C.S., sec. 6182; I.C.A., sec. 67-205; am. 1982, ch. 25, sec. 4, p. 35; am. 1988, ch. 350, sec. 3, p. 1040; am. 1989, ch. 300, sec. 1, p. 747; am. 2002, ch. 259, sec. 3, p. 761.]
2023 Idaho Code › Title 69 - WAREHOUSES › Chapter 2 - BONDED WAREHOUSE LAW › Section 69-207 - TERM OF LICENSE — RENEWAL.

69-207. TERM OF LICENSE — RENEWAL. Each license issued under sections 69-206 and 69-215, Idaho Code, shall be issued for a period to be prescribed by rule by the department.
History:
[(69-207) 1919, ch. 152, sec. 7, p. 484; C.S., sec. 6184; I.C.A., sec. 67-207; am. 1933, ch. 167, sec. 3, p. 298; am. 1961, ch. 111, sec. 1, p. 169; am. 1965, ch. 171, sec. 2, p. 338; am. 2002, ch. 259, sec. 5, p. 762.]
2023 Idaho Code › Title 69 - WAREHOUSES › Chapter 2 - BONDED WAREHOUSE LAW › Section 69-208A - AMOUNT OF BOND — CANCELLATION.

69-208A. AMOUNT OF BOND — CANCELLATION. The amount of bond to be furnished for each warehouse shall be fixed at whichever of the following amounts is greater:
(1) The combined total indebtedness paid and owed to producers for agricultural commodity and seed crop stored for withdrawal or transferred during the previous license year; or
(2) The indebtedness owed and estimated to be owed to producers for agricultural commodity and seed crop for the current license year.
Subsequent to determining whichever of the preceding amounts is greater, and based on that amount, the amount of bond shall be calculated as follows:
Gross Dollars:
Amount of Bond:
$0 – $450,000
$20,000 bond or 6% of the gross
dollars, whichever is less
$450,001 – $1,000,000
$40,000 bond
$1,000,001 – $8,000,000
$100,000 bond
Over $8,000,000
$500,000 bond
Any other bond that may be required shall be separate and in addition to the bond listed here. In any case, the amount of the bond shall not be more than five hundred thousand dollars ($500,000). This bond shall run continuously with the warehouse license until suspended, revoked or canceled by the bonding company. A ninety (90) day written notice shall be given to the department by the bonding company before any bond is suspended, revoked or canceled. The director reserves the right to waive the ninety (90) day cancellation period.
History:
[69-208A, added 1982, ch. 25, sec. 7, p. 37; am. 1985, ch. 138, sec. 3, p. 378; am. 1988, ch. 350, sec. 3, p. 1042; am. 2002, ch. 259, sec. 7, p. 764; am. 2003, ch. 150, sec. 2, p. 432.]
2023 Idaho Code › Title 69 - WAREHOUSES › Chapter 2 - BONDED WAREHOUSE LAW › Section 69-209 - ACTION ON BOND, CERTIFICATE OF DEPOSIT OR IRREVOCABLE LETTER OF CREDIT BY PRODUCERS INJURED.

69-209. ACTION ON BOND, CERTIFICATE OF DEPOSIT OR IRREVOCABLE LETTER OF CREDIT BY PRODUCERS INJURED. Any producer injured by the breach of any obligation for which a bond, certificate of deposit or irrevocable letter of credit is written, under the provisions of section 69-208, Idaho Code, must petition the director to make demand upon the warehouseman, certificate of deposit, irrevocable letter of credit or bond. The director may thereupon make demand for payment of such damages and in the event such damages are not promptly paid the director may commence an action to enforce payment of such damages. The liability of the bank on a certificate of deposit or irrevocable letter of credit, and the surety upon the bond required to be given by warehousemen as provided in section 69-208, Idaho Code, for any one (1) annual licensing period shall be limited to the amount specified in the bond, certificate of deposit, or irrevocable letter of credit and in case of recoveries had by two (2) or more producers for violation of the conditions of this chapter in excess of the amount of the bond, certificate of deposit, or irrevocable letter of credit, such recovery shall be prorated and the total recovery for any one (1) annual licensing period shall not exceed the amount of the bond, certificate of deposit, or irrevocable letter of credit. In the event the director sues and obtains a judgment against the warehouseman and/or his surety or bank for payment of such damages under this chapter, he shall be entitled to recover a reasonable attorney’s fee.
History:
[(69-209) 1919, ch. 152, sec. 9, p. 484; C.S., sec. 6186; I.C.A., sec. 67-209; am. 1933, ch. 167, sec. 4, p. 298; am. 1953, ch. 61, sec. 1, p. 81; am. 1974, ch. 18, sec. 234, p. 364; am. 1974, ch. 82, sec. 1, p. 1172; am. 1982, ch. 25, sec. 8, p. 37; am. 1983, ch. 44, sec. 6, p. 107; am. 1985, ch. 138, sec. 4, p. 378; am. 2002, ch. 259, sec. 8, p. 764; am. 2003, ch. 150, sec. 3, p. 433.]