Vt. Stat. Ann. tit. 14, § 3230
Termination of custodianship
Redline — July 1, 2021 → current.View current text →
Current — June 1, 2022
As of July 1, 2021
The custodian shall transfer in an appropriate manner the custodial property to the minor or to the minor's estate upon the earliest of:
The custodian shall transfer in an appropriate manner the custodial property to the minor or to the minor’s estate upon the earliest of:
(1) the minor's attainment of 21 years of age with respect to custodial property transferred under section 3214 or 3215 of this title;
(1) the minor’s attainment of 21 years of age with respect to custodial property transferred under section 3214 or 3215 of this title;
(2) the minor's attainment of 18 years of age with respect to custodial property transferred under section 3216 or 3217 of this title; or
(2) the minor’s attainment of 18 years of age with respect to custodial property transferred under section 3216 or 3217 of this title; or
(3) the minor’s death. Added 2015, No. 7, § 1.
(3) the minor’s death.
OFFICIAL COMMENT
This section tracks Section 4(d) of the 1966 Act, but provides that custodianships created by fiduciaries without express authority from the donor of the property under section 3216 of this chapter and by obligors of the minor under section 3217 terminate upon the minor's attaining the age of majority under the general laws of the state, since these custodianships are substitutes for conservatorships that would otherwise terminate at that time. Because property in a single custodianship may be distributable at different times, separate accounting for custodial property by source may be required. See Comment to section 3220.
Official source: Vermont General Assembly. Reproduced from public-domain Vermont statutes; confirm against the official source for the current text. Not legal advice.