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2007 SESSION
HB 2831 Transfers to minors act; enables custodian of trust to transfer property without a court order.
Introduced by: C. Todd Gilbert | all patrons ... notes | add to my profiles | history
SUMMARY AS PASSED HOUSE:
Transfers to minors act; custodial trusts. The bill enables the custodian of a trust benefiting a minor to transfer property, after the minor has reached age 21, to a qualified minor's trust. Such a transfer has the effect of terminating the custodianship to the extent of the property transferred.
SUMMARY AS INTRODUCED:
Transfers to minors act; custodial trusts. The bill enables the custodian of a trust benefiting a minor to transfer property, after the minor has reached age 21, to either a qualified minor's trust or other trust that the benefits the minor solely and provides him a general power of appointment.