Title 14 — Trusts, Estates and Protective Proceedings

A written acknowledgement of delivery by a custodian constitutes a sufficient receipt and discharge for custodial property transferred to the custodian pursuant to this article.

A. Custodial property is created and a transfer is made if: 1. An uncertificated security or a certificated security in registered form is either registered in the name of the transferor, an adult other than the transferor or a trust company, followed in substance by the words, "…

A transfer may be made only for one minor and only one person may be the custodian. All custodial property held under this article by the same custodian for the benefit of the same minor constitutes a single custodianship.

A. The validity of a transfer made in a manner prescribed in this article is not affected by any of the following: 1. Failure of the transferor to comply with section 14-7659, subsection C concerning possession and control. 2. Designation of an ineligible custodian, except design…

A. A custodian shall: 1. Take control of custodial property. 2. Register or record title to custodial property if appropriate. 3. Collect, hold, manage, invest and reinvest custodial property. B. In dealing with custodial property, a custodian shall observe the standard of care t…

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 own property, but a custodian may exercise those rights, powers and authority in that capacity only. B. This section does n…

A. A custodian may deliver or pay to the minor or expend for the minor's benefit as much of the custodial property as the custodian considers advisable for the use and benefit of the minor, without court order and without regard to either the duty or ability of the custodian pers…

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 a person who is a transferor pursuant to section 14-7654, a custodian has a noncumulative election during each calendar…

A third person in good faith and without court order may act on the instructions of or otherwise deal with a person purporting to make a transfer or purporting to act in the capacity of a custodian and, in the absence of knowledge, is not responsible for determining: 1. The valid…

A. A claim based on a contract entered into by a custodian acting in a custodial capacity, an obligation arising from the ownership or control of custodial property or a tort committed during the custodianship may be asserted against the custodial property by proceeding against t…

A. A person nominated pursuant to section 14-7653 or designated pursuant to section 14-7659 as custodian may decline to serve by delivering a valid disclaimer to the person who made the nomination or to the transferor or the transferor's legal representative. If the event giving …

A. A minor who is at least fourteen years of age, the minor's guardian of the person or legal representative, an adult member of the minor's family, a transferor or a transferor's legal representative may petition the court for an accounting by the custodian or the custodian's le…

The custodian shall transfer in an appropriate manner the custodial property to the minor or the minor's estate on the earlier of: 1. The minor's twenty-first birthday with respect to custodial property transferred pursuant to section 14-7654 or 14-7655. 2. The minor's eighteenth…

This article applies to a transfer within the scope of section 14-7652 made after its effective date if either of the following is true: 1. The transfer purports to have been made under the Arizona uniform gifts to minors act. 2. The instrument by which the transfer purports to h…