Title 19 — Personal Relations
27 chapters · 510 sections in this title.
19 GCA § 12101 Definitions
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In this Chapter, unless the contest otherwise requires: (a) An adult is a person who has attained the age of 18 years. (b) A bank is a bank, trust company, national banking association, savings bank. or industrial bank duly admitted and licensed in Guam to accept the deposits of …
19 GCA § 12102 Manner of Making Gift
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(a) An adult person may, during his lifetime, make a gift of a security, a life insurance policy or annuity contract or money to a person who is a minor on the date of the gift: COL120106 (1) If the subject of the gift is a security in registered form, by registering it in the na…
19 GCA § 12103 Effect of Gift
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(a) A gift made in a manner prescribed in this Chapter is irrevocable and conveys to the minor indefeasibly vested legal title to the security, life insurance policy, annuity contract or money given, but no guardian of the minor has any right, power, duty or authority with respec…
19 GCA § 12104 Duties and Powers of Custodian
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(a) The custodian shall collect, hold, manage, invest and reinvest the custodian property. (b) The custodian shall pay over to the minor for expenditure by him, or expend for the minor=s benefit, so much of or all the custodial property as the custodian deems advisable for the su…
19 GCA § 12105 Custodian=s Expenses, Compensation, Bond and Liabilities
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(a) A custodian is entitled to reimbursement from the custodial property for his reasonable expenses incurred in the performance of his duties. (b) A custodian may act without compensation for his services. (c) Unless he is a donor, a custodian may receive from the custodial prop…
19 GCA § 12106 Exception of Third Persons from Liability
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No issuer, transfer agent, bank, life insurance company, broker or other person or financial institution acting on the instructions of or otherwise dealing with any person purporting to act as a donor or in the capacity of a custodian is responsible for determining whether the pe…
19 GCA § 12107 Resignation, Death or Removal of Custodian; Bond;
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Designation of Successor Custodian. (a) Only an adult member of the minor=s family, a guardian of the minor or a trust company is eligible to become [a] successor custodian. A custodian may designate his successor by executing and dating an instrument of designation before a subs…
19 GCA § 12108 Accounting by Custodian
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(a) The minor, if he has attained the age of fourteen years, or the legal representative of the minor, an adult member of the minor=s family, or a donor or his legal representative may petition the court for an accounting by the custodian or his legal representative. (b) The cour…
19 GCA § 12109 Construction
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(a) This Chapter shall be so construed as to effectuate its general purpose to make uniform the law of those states and territories which enact it. (b) This Chapter shall not be construed as providing an exclusive method for making gifts to minors. COL120106 SOURCE: CC '1156.6 ad…
19 GCA § 12110 Short Title
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This Chapter may be cited as the Guam Uniform Gifts to Minors Act. SOURCE: CC '1156.7 added by P.L. 11-115.
19 GCA § 12111 Severability
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If any provision of this Chapter or the application thereof to any person or circumstances is held invalid, the invalidity shall not affect other provisions or application of this Chapter which can be given effect without the invalid provision or application, and to this end the …