20 Pennsylvania Consolidated Statutes Chapter 53 - Pennsylvania Uniform Transfers To Minors Act

• Chapter Notes
• Section 5301 - Short Title Of Chapter And Definitions
  (a) Short title of chapter.--This chapter shall be known and may be cited as the Pennsylvania Uniform Transfers to Minors Act. (b) Definitions.--The following...
• Section 5302 - Scope And Jurisdiction
  (a) Application of chapter.--This chapter applies to a transfer that refers to this chapter in the designation under section 5309(a) (relating to manner of...
• Section 5303 - Nomination Of Custodian
  (a) General rule.--A person having the right to designate the recipient of property transferable upon the occurrence of a future event may revocably nominate...
• Section 5304 - 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...
• Section 5305 - Transfer Authorized By Will Or Trust
  (a) General rule.--A personal representative or trustee may make an irrevocable transfer pursuant to section 5309 (relating to manner of creating custodial property and...
• Section 5306 - Other Transfer By Fiduciary
  (a) Irrevocable transfer by personal representative or trustee.--Subject to subsection (c), a personal representative or trustee may make an irrevocable transfer to another adult...
• Section 5307 - Transfer By Obligor
  (a) Irrevocable transfer for benefit of minor.--Subject to subsections (b) and (c), a person not subject to section 5305 (relating to transfer authorized by...
• Section 5308 - 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
• Section 5309 - Manner Of Creating Custodial Property And Effecting Transfer
  (a) Creation of custodial property.--Custodial property is created and a transfer is made whenever: (1) An uncertificated security or a certificated security in registered...
• Section 5310 - Single Custodianship
  A transfer may be made only for one minor, and only one person may be the custodian. All custodial property held under this chapter...
• Section 5311 - Validity And Effect Of Transfer
  (a) Validity of transfer.--The validity of a transfer made in a manner prescribed in this chapter is not affected by: (1) failure of the...
• Section 5312 - Care Of Custodial Property
  (a) Duties of custodian.--A custodian shall: (1) Take control of custodial property. (2) Register or record title to custodial property if appropriate. (3) Collect,...
• Section 5313 - Powers Of Custodian
  (a) General rule.--A custodian, acting in a custodial capacity, has all the rights, powers and authority over custodial property that unmarried adult owners have...
• Section 5314 - Use Of Custodial Property
  (a) Without court order.--A custodian may deliver or pay to the minor or expend for the minor's benefit so much of the custodial property...
• Section 5315 - Expenses, Compensation And Bond Of Custodian
  (a) Expenses.--A custodian is entitled to reimbursement from custodial property for reasonable expenses incurred in the performance of the custodian's duties. (b) Compensation.--Except for...
• Section 5316 - 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...
• Section 5317 - Liability To Third Persons
  (a) Claim against custodial property.--Any claim based on the following may be asserted against the custodial property by proceeding against the custodian in the...
• Section 5318 - Renunciation, Resignation, Death Or Removal Of Custodian
  (a) Renunciation.--A person nominated under section 5303 (relating to nomination of custodian) or designated under section 5309 (relating to manner of creating custodial property...
• Section 5319 - Accounting By And Determination Of Liability Of Custodian.
  (a) Petition.--A minor who has attained 14 years of age, the minor's guardian of the person or legal representative, an adult member of the...
• Section 5320 - Termination Of Custodianship
  The custodian shall transfer in an appropriate manner the custodial property to the minor or the minor's estate upon the earlier of: (1) the...
• Section 5321 - Delay In Transfer Of Custodial Property After Minor Attains Age 21
  (a) General rule.--Subject to the requirements and limitations of this section, the time for transfer to the minor of custodial property transferred under or...

Last modified: October 8, 2016