Tenn. Code Ann. § 35-7-114

Powers of custodian

Known as the Tennessee Uniform Transfers to Minors Act

The act spans §§ 35–35 (26 sections).

Acts 1992, ch. 664, § 1; 2005, ch. 99, § 7; T.C.A. § 35-7-214.

(1) 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.

(2) This section does not relieve a custodian from liability for breach of duties of care under § 35-7-113.

(3) The custodian is authorized to invest some or all of the custodial property in the Internal Revenue Code Section 529 plan, if the custodian determines the investment to be in the best interest of the minor.

Current official text: Tennessee Code (LexisNexis). Digitized from the UniCourt Code Improvement Commission public-domain capture. Reproduced from public-domain Tennessee statutes; confirm against the official source for the current text. Not legal advice.