The provisions of this chapter apply to a transfer within the scope of section 68-802, Idaho Code, made after its effective date if:
(1) The transfer purports to have been made under the Uniform Gifts to Minors Act of Idaho; or
(2) The instrument by which the transfer purports to have been made uses in substance the designation “as custodian under the Uniform Gifts to Minors Act” or “as custodian under the Uniform Transfers to Minors Act” of any other state, and the application of this chapter is necessary to validate the transfer.