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.
Last modified: May 27, 2006