§ 18-7-23 - Effect on existing custodianships. - Rhode Island Statutes

SECTION 18-7-23

   § 18-7-23  Effect on existingcustodianships. – (a) Any transfer of "custodial property" as now defined in this chapter madebefore June 28, 1985, is validated, notwithstanding that there was no specificauthority in the Uniform Gifts to Minors Act of Rhode Island for the coverageof custodial property of that kind or for a transfer from that source at thetime the transfer was made.

   (b) This chapter applies to all transfers made before June28, 1985, in a manner and form prescribed in the Uniform Gifts to Minors Act ofRhode Island, except insofar as the application impairs constitutionally vestedrights or extends the duration of custodianships in existence on June 28, 1985.

   (c) Sections 18-7-2 and 18-7-21, with respect to the age of aminor for whom custodial property is held under this chapter, do not apply tocustodial property held in a custodianship that terminated because of theminor's attainment of the age of eighteen (18) after March 29, 1972, and beforeJune 28, 1985.