KRS 385.032 to 385.222 apply to a transfer within the scope of KRS 385.022 made after July 15, 1986, if:
(1) The transfer purports to have been made under the Uniform Gifts to Minors Act of Kentucky; 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 KRS 385.032 to 385.222 is necessary to validate the transfer.