N.Y. Est. Powers & Trusts Law § 7-6.11

§ 7-6.11 Validity and effect of transfer\n (a) The validity of a transfer made in a manner prescribed in this\npart is not affected by:\n (1) The failure of the transferor to comply with paragraph (c) of\n7-6.9 concerning possession and control;\n (2) designation of an ineligible custodian, except designation of the\ntransferor in the case of property for which the transferor is\nineligible to serve as custodian under paragraph (a) of 7-6.9; or\n (3) death or incapacity of a person nominated under 7-6.3 or\ndesignated under 7-6.9 as custodian or the disclaimer of the office by\nthat person.\n (b) A transfer made pursuant to 7-6.9 is irrevocable, and the\ncustodial property is indefeasibly vested in the minor, but the\ncustodian has all the rights, powers, duties, and authority provided in\nthis part, and neither the minor nor the minor's legal representative\nhas any right, power, duty, or authority with respect to the custodial\nproperty except as provided in this part.\n (c) By making a transfer, the transferor incorporates in the\ndisposition all the provisions of this part and grants to the custodian,\nand to any third person dealing with a person designated as custodian,\nthe respective powers, rights, and immunities provided in this part.\n