Title 21 — Fiduciary Relations and Persons with Mental Illness. [Enacted title]

For purposes of this chapter the term: (1) “Adult” means an individual who has attained the age of 18 years. (2) “Benefit plan” means an employer’s plan for the benefit of an employee or a partner. (3) “Broker” means a person lawfully engaged in the business of effecting transact…

(a) This chapter applies to a transfer that refers to this act in the designation under section 21-309(a) by which the transfer is made if at the time of the transfer, the transferor, the minor, or the custodian is a resident of the District or the custodial property is located i…

A person having the right to designate the recipient of property transferable upon the occurrence of a future event may revocably nominate a custodian to receive the property for a minor beneficiary upon the occurrence of the event by naming the custodian followed in substance by…

A person may make a transfer by irrevocable gift to, or the irrevocable exercise of a power of appointment in favor of, a custodian for the benefit of a minor pursuant to section 21-309 .

(a) A personal representative or trustee may make an irrevocable transfer pursuant to section 21-309 to a custodian for the benefit of a minor as authorized in the governing will or trust, subject to the authority of the court under section 20-1106. (b) If the testator or the set…

(a) Subject to subsection (c) of this section, a personal representative or trustee may make an irrevocable transfer to another adult or to a trust company, as custodian, for the benefit of a minor pursuant to section 21-309, in the absence of a will or under a will or trust that…

(a) Subject to subsection (b) and (c) of this section, a person not subject to section 21-305 or 21-306 and who holds property of or owes a liquidated debt to a minor not having a conservator may make an irrevocable transfer to a custodian for the benefit of the minor pursuant to…

A written acknowledgement of delivery by a custodian constitutes a sufficient receipt and discharge for custodial property transferred under this act.

(a) Custodial property is created and a transfer is made when: (1) An uncertificated security is either: TRANSFER UNDER THE DISTRICT OF COLUMBIA UNIFORM TRANSFERS TO MINORS ACT I, __________ [name of transferor or name of representative capacity if a fiduciary] hereby transfer to…

A transfer shall be made only for 1 minor, and only 1 person may be the custodian. All custodial property held under this chapter 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 act is not affected by the following: (1) Failure of the transferor to comply with section 21-309(c) concerning possession and control; (2) Designation of an ineligible custodian, except designation of the transfe…

(a) A custodian shall perform the following: (1) Take control of custodial property; (2) Register or record title to custodial property if appropriate; and (3) Collect, hold, manage, invest, and reinvest custodial property. (b) In dealing with custodial property, a custodian shal…

(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 do…

(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 the following: (1) The duty or the ability of t…

(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 who is a transferor under section 21-304, a custodian has a non-cumulative election during each calendar year to …

A third person, in good faith and without a court order may act on the instructions of or otherwise deal with any person purporting to make a transfer or purporting to act in the capacity of a custodian and, in the absence of knowledge of the third person, shall not be responsibl…

(a) A claim may be asserted against the custodial property by proceeding against the custodian in the custodial capacity, whether or not the custodian or the minor is personally liable, if a claim is based on the following: (1) A contract entered into by a custodian acting in a c…

(a) A person nominated under section 21-303 or designated under section 21-309 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 rise to a tra…

(a) A minor who has reached the age of 14 years, 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 the following: (1) For an accounting by the custodia…

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) The minor reaches 18 years of age, or if the transfer was made as provided in section 21-309(d), the minor reaches 21 years of age, with res…

The District of Columbia Uniform Transfers to Minors Act applies to a transfer within the scope of section 21-302 made after the act’s effective date if the following occurs: (1) The transfer purports to have been made under District of Columbia Uniform Gifts to Minors Act; or (2…

(a) Any transfer of custodial property as now defined in this act made before the effective date of the District of Columbia Uniform Transfers to Minors Act is validated notwithstanding that there was no specific authority in the District of Columbia Uniform Gifts to Minors Act f…

This chapter shall be applied and construed to effectuate its general purpose to make uniform the law with respect to the subject of this chapter among states enacting it.

To the extent that this chapter by virtue of section 21-322(b) does not apply to transfers made in a manner prescribed in the District of Columbia Uniform Gifts to Minors Act or to the powers, duties, and its immunities conferred by transfers in that manner upon custodians and pe…