Arkansas Code Title 9, Subtitle 3, Chapter 26, Subchapter 2 - Arkansas Uniform Transfers to Minors Act

• § 9-26-201 - Definitions.
  As used in this subchapter: (1) "Adult" means an individual who has attained the age of twenty-one (21) years. (2) "Benefit plan" means an...
• § 9-26-202 - Scope and Jurisdiction.
  (a) This subchapter shall apply to a transfer that refers to this subchapter in the designation under § 9-26-209(a) by which the transfer is...
• § 9-26-203 - Nomination of Custodian.
  (a) A person having the right to designate the recipient of property transferable upon the occurrence of a future event may revocably nominate a...
• § 9-26-204 - 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...
• § 9-26-205 - Transfer Authorized by Will or Trust.
  (a) A personal representative or trustee may make an irrevocable transfer pursuant to § 9-26-209 to a custodian for the benefit of a minor...
• § 9-26-206 - Other Transfer by Fiduciary.
  (a) Subject to subsection (c) of this section, a personal representative or trustee may make an irrevocable transfer to another adult or trust company...
• § 9-26-207 - Transfer by Obligor.
  (a) Subject to subsections (b) and (c) of this section, a person not subject to § 9-26-205 or § 9-26-206 who holds property of...
• § 9-26-208 - Receipt for Custodial Property.
  A written acknowledgment of delivery by a custodian shall constitute a sufficient receipt and discharge for custodial property transferred to the custodian pursuant to...
• § 9-26-209 - Manner of Creating Custodial Property and Effecting Transfer -- Designation of Initial Custodian -- Control.
  (a) Custodial property is created and a transfer is made whenever: (1) an uncertificated security or a certificated security in registered form is either:...
• § 9-26-210 - Single Custodianship.
  A transfer may be made only for one (1) minor, and only one (1) person may be the custodian. All custodial property held under...
• § 9-26-211 - Validity and Effect of Transfer.
  (a) The validity of a transfer made in a manner prescribed in this subchapter shall not be affected by: (1) failure of the transferor...
• § 9-26-212 - Care of Custodial Property.
  (a) A custodian shall: (1) take control of custodial property; (2) register or record title to custodial property if appropriate; and (3) collect, hold,...
• § 9-26-213 - Powers of Custodian.
  (a) A custodian, acting in a custodial capacity, shall have all the rights, powers, and authority over custodial property that unmarried adult owners have...
• § 9-26-214 - Use of Custodial Property.
  (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...
• § 9-26-215 - Custodian's Expenses -- Compensation -- Bond.
  (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...
• § 9-26-216 - Exemption of a 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...
• § 9-26-217 - Liability to Third Persons.
  (a) A claim based on (i) a contract entered into by a custodian acting in a custodial capacity, (ii) an obligation arising from the...
• § 9-26-218 - Renunciation, Resignation, Death, or Removal of Custodian -- Designation of Successor Custodian.
  (a) A person nominated under § 9-26-203 or designated under § 9-26-209 as custodian may decline to serve by delivering a valid disclaimer in...
• § 9-26-219 - Accounting by and Determination of Liability of Custodian.
  (a) A minor who has attained the age of fourteen (14) years, the minor's guardian of the person or legal representative, an adult member...
• § 9-26-220 - Termination of Custodianship.
  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)...
• § 9-26-221 - Applicability.
  This subchapter shall apply to a transfer within the scope of § 9-26-202 made after March 21, 1985, if: (1) the transfer purports to...
• § 9-26-222 - Effect on Existing Custodianships.
  (a) Any transfer of custodial property as now defined in this subchapter made before March 21, 1985, shall be validated notwithstanding that there was...
• § 9-26-223 - Uniformity of Application and Construction.
  This subchapter shall be applied and construed to effectuate its general purpose to make uniform the law with respect to the subject of this...
• § 9-26-224 - Short Title.
  This subchapter may be cited as the "Arkansas Uniform Transfers to Minors Act".
• § 9-26-225 - Severability.
  If any provisions of this subchapter or its application to any person or circumstance is held invalid, the invalidity does not affect other provisions...
• § 9-26-226 - Effective Date.
  It has been found that Acts 1967, No. 250 limits the kinds of properties that may be transferred to the custodian of a minor...
• § 9-26-227 - Repealer.
  Acts 1967, No. 250, the Arkansas Uniform Gifts to Minors Act, is hereby repealed. To the extent that this subchapter, by virtue of §...

Last modified: November 15, 2016