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General Laws of Massachusetts - Chapter 201A Uniform Transfers to Minors Act.
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Massachusetts Laws > Uniform Transfers to Minors Act > General Laws of Massachusetts - Chapter 201A Uniform Transfers to Minors Act.
- Massachusetts General Laws - Definitions - Chapter 201A, Section 1
As used in this chapter the following words shall, unless the context requires otherwise, have the following meanings:— “Adult”, an individual who has attained the...
- Massachusetts General Laws - Scope and Jurisdiction - Chapter 201A, Section 2
(a) Except as otherwise provided in section twenty-two, this chapter shall apply to a transfer that refers to this chapter in the designation under subsection...
- Massachusetts General Laws - Nomination of Custodian - Chapter 201A, Section 3
(a) A person having the right to designate the recipient of property transferable upon the occurrence of a future event may revocably nominate a custodian...
- Massachusetts General Laws - Transfer by Gift or Exercise of Power of Appointment - Chapter 201A, Section 4
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...
- Massachusetts General Laws - Transfer Authorized by Will or Trust - Chapter 201A, Section 5
(a) A personal representative or trustee may make an irrevocable transfer pursuant to section nine to a custodian for the benefit of a minor as...
- Massachusetts General Laws - Other Transfer by Fiduciary - Chapter 201A, Section 6
(a) Subject to subsection (c), a personal representative or trustee may make an irrevocable transfer to another adult or another trust company as custodian for...
- Massachusetts General Laws - Transfer by Obligor - Chapter 201A, Section 7
(a) Subject to subsections (b) and (c), a person not subject to section five or section six who holds property of or owes a liquidated...
- Massachusetts General Laws - Receipt for Custodial Property - Chapter 201A, Section 8
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.
- Massachusetts General Laws - Manner of Creating Custodial Property and Effecting Transfer; Designation of Initial Custodian; Control - Chapter 201A, Section 9
(a) Custodial property is created and a transfer is made whenever: (1) an uncertificated security or a certificated security in registered form is either (i)...
- Massachusetts General Laws - Single Custodianship - Chapter 201A, Section 10
A transfer may be made only for one minor, and only one person may be the custodian. All custodial property held under this chapter by...
- Massachusetts General Laws - Validity and Effect of Transfer - Chapter 201A, Section 11
(a) The validity of a transfer made in a manner prescribed in this chapter is not affected by: (1) failure of the transferor to comply...
- Massachusetts General Laws - Care of Custodial Property - Chapter 201A, Section 12
(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,...
- Massachusetts General Laws - Powers of Custodian - Chapter 201A, Section 13
(a) A custodian, acting in a custodial capacity, has all the rights, powers, and authority over custodial property that unmarried adult owners have over their...
- Massachusetts General Laws - Use of Custodial Property - Chapter 201A, Section 14
(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...
- Massachusetts General Laws - Custodian's Expenses, Compensation, and Bond - Chapter 201A, Section 15
(a) A custodian is entitled to reimbursement from custodial property for reasonable expenses incurred in the performance of the custodian’s duties. (b) Except for one...
- Massachusetts General Laws - Exemption of Third Person From Liability - Chapter 201A, Section 16
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...
- Massachusetts General Laws - Liability to Third Persons - Chapter 201A, Section 17
(a) A claim based on (i) a contract entered into by a custodian acting in a custodial capacity, (ii) an obligation arising from the ownership...
- Massachusetts General Laws - Renunciation, Resignation, Death, or Removal of Custodian; Designation of Successor Custodian - Chapter 201A, Section 18
(a) A person nominated under section three or designated under section nine as custodian may decline to serve in a writing delivered to the person...
- Massachusetts General Laws - Accounting by and Determination of Liability of Custodian - Chapter 201A, Section 19
(a) A minor who has attained the age of fourteen years, the minor’s guardian, an adult member of the minor’s family, a transferor, or a...
- Massachusetts General Laws - Termination of Custodianship - Chapter 201A, Section 20
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...
- Massachusetts General Laws - Applicability - Chapter 201A, Section 21
This chapter applies to a transfer within the scope of section two made after its effective date if: (1) the transfer purports to have been...
- Massachusetts General Laws - Effect on Existing Custodianships - Chapter 201A, Section 22
(a) Any transfer of custodial property as now defined in this chapter made at a time when this chapter was entitled the Uniform Gifts to...
- Massachusetts General Laws - Uniformity of Application and Construction - Chapter 201A, Section 23
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...
- Massachusetts General Laws - Short Title - Chapter 201A, Section 24
This chapter may be cited as the “Massachusetts Uniform Transfers to Minors Act”.
Last modified: March 17, 2010
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