§ 33A-22. Effect on existing custodianships. - North Carolina Statutes

§33A‑22.  Effect on existing custodianships.

(a)        Any transfer ofcustodial property as now defined in this Chapter made before October 1, 1987,is validated notwithstanding that there was no specific authority in theUniform Gifts to Minors Act of North Carolina for the coverage of custodialproperty of that kind or for a transfer from that source at the time thetransfer was made.

(b)        This Chapterapplies to all transfers made before October 1, 1987, in a manner and formprescribed in the Uniform Gifts to Minors Act of North Carolina, except insofaras the application impairs constitutionally vested rights or extends theduration of custodianships in existence on October 1, 1987.

(c)        G.S. 33A‑1and G.S. 33A‑20 with respect to the age of a minor for whom custodialproperty is held under this Chapter shall not apply to custodial property heldin a custodianship that terminated because of the minor's attainment of the ageof majority and before October 1, 1987. (1987, c. 563, s. 2.)