Georgia Code, Title 44, Chapter 5, Article 5 - The Georgia Transfers to Minors Act

• § 44-5-110 - Short Title
  This article shall be known and may be cited as "The Georgia Transfers to Minors Act."
• § 44-5-111 - Definitions
  As used in this article, the term: (1) "Adult" means an individual who has attained the age of 21 years. (2) "Benefit plan" means...
• § 44-5-112 - Applicability of Article
  (a) This article applies to a transfer that refers to "The Georgia Transfers to Minors Act" in the designation under subsection (a) of Code...
• § 44-5-113 - 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...
• § 44-5-114 - Irrevocable Gift or Exercise of Power of Appointment Made Under Code Section 44-5-119
  A person may make a transfer by irrevocable gift to, or by the irrevocable exercise of a power of appointment in favor of, a...
• § 44-5-115 - Irrevocable Transfer by Personal Representative or Trustee to Custodian for Minor's Benefit
  (a) A personal representative or trustee may make an irrevocable transfer pursuant to Code Section 44-5-119 to a custodian for the benefit of a...
• § 44-5-116 - Irrevocable Transfer by Personal Representative, Trustee, or Guardian to Custodian
  (a) Subject to subsection (c) of this Code section, a personal representative or trustee may make an irrevocable transfer to an adult or trust...
• § 44-5-117 - Transfers by Other Persons to Custodian
  (a) Subject to subsections (b) and (c) of this Code section, a person not subject to Code Section 44-5-115 or 44-5-116 who holds property...
• § 44-5-118 - Effect of Custodian's Written Acknowledgment of Delivery
  A written acknowledgment of delivery by a custodian constitutes a sufficient receipt and discharge for custodial property transferred to the custodian pursuant to this
• § 44-5-119 - Creation and Transfer of Custodial Property
  (a) Custodial property is created and a transfer is made whenever: (1) An uncertificated security or a certificated security in registered form is either:...
• § 44-5-120 - Single Custodianship
  A transfer may be made only for one minor, and only one person may be custodian. All custodial property held under the authority of...
• § 44-5-121 - Validity of Transfer
  (a) The validity of a transfer made in a manner prescribed in this article is not affected by: (1) Failure of the transferor to...
• § 44-5-122 - Powers and Duties of Custodian; Name in Which Registered Securities to Be Held; Commingling With Personal Assets
  (a) A custodian shall: (1) Take control of custodial property; (2) Register or record title to custodial property if appropriate; and (3) Collect, hold,...
• § 44-5-123 - Custodian's Rights, Powers, and Authority Over Custodial Property; Liability for Breach of Code Section 44-5-122
  (a) A custodian, acting in a custodial capacity, has all the rights, powers, and authority over custodial property that adult owners have over their...
• § 44-5-124 - Custodial Discretion in Transfers of Custodial Property for Support, Maintenance, Education, and General Use and Benefit of Minor
  (a) A custodian may deliver or pay to the minor or expend for or apply to the minor's benefit so much or the whole...
• § 44-5-125 - Compensation; Expenses of Custodian; 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...
• § 44-5-126 - Liability of Third Person for Dealings With Person Purporting to Act in Capacity of Custodian
  A third person in good faith and without court order may act on the instructions of or otherwise deal with any person purporting to...
• § 44-5-127 - Assertion of Claim Arising Out of Custodial Relationship
  (a) A claim based on: (1) A contract entered into by a custodian acting in a custodial capacity; (2) An obligation arising from the...
• § 44-5-128 - Appointment of Successor Custodian
  (a) A person nominated under Code Section 44-5-113 or designated under Code Section 44-5-119 as custodian may decline to serve by delivering a valid...
• § 44-5-129 - Accounting by Custodian; Petition for Accounting
  (a) A minor who has attained the age of 14 years, the minor's guardian of the person or legal representative, an adult member of...
• § 44-5-130 - Transfer of Custodial Property by Custodian to Minor or Minor's Estate
  The custodian shall transfer in an appropriate manner the custodial property to the minor or to the minor's estate upon the earliest of: (1)...
• § 44-5-131 - Applicability to Transfers Made After July 1, 1990
  This article applies to a transfer within the scope of Code Section 44-5-112 made after July 1, 1990, if: (1) The transfer purports to...
• § 44-5-132 - Applicability to Transfers Made Prior to July 1, 1990
  (a) Any transfer of custodial property as now defined in this article made before July 1, 1990, is validated notwithstanding that there was no...
• § 44-5-133 - Uniform Applicability of Article
  This article shall be applied and construed to effectuate its general purpose to make uniform the law with respect to the subject of this...
• § 44-5-134 - Exceptions to Article
  The former Article 5 of this chapter, known as "The Georgia Gifts to Minors Act," is repealed. To the extent that this new article,...

Last modified: October 14, 2016