Vt. Stat. Ann. tit. 14, § 3214
Transfer by gift or exercise of power of appointment
Redline — July 1, 2021 → current.View current text →
Current — June 1, 2022
As of July 1, 2021
A person may make a transfer by irrevocable gift to, or the irrevocable exercise of a power of appointment in favor of, a custodian for the benefit of a minor, pursuant to section 3219 of this title.
A person may make a transfer by irrevocable gift to, or the irrevocable exercise of a power of appointment in favor of, a custodian for the benefit of a minor, pursuant to section 3219 of this title.
Added 2015, No. 7, § 1.
OFFICIAL COMMENT
To emphasize the different kinds of transfers that create presently effective custodianships under this Act, they are separately described in sections 3214, 3215, 3216 and 3217 of this chapter. This section in part corresponds to Section 2(a) of the 1966 Act and covers the traditional lifetime gift that was the only kind of transfer authorized by the 1966 Act. It also covers an irrevocable exercise of a power of appointment in favor of a custodian, as distinguished from the exercise of a power in a revocable instrument that results only in the nomination of a future custodian under section 3213.
Official source: Vermont General Assembly. Reproduced from public-domain Vermont statutes; confirm against the official source for the current text. Not legal advice.