31-38 - Scope and jurisdiction. - Virginia Statutes

§ 31-38. Scope and jurisdiction.

This chapter applies to any transfer that refers to the Uniform Transfers toMinors Act or this chapter in the designation under subsection A of § 31-45by which the transfer is made if, at the time of the transfer, thetransferor, the minor, or the custodian is a resident of this Commonwealth orthe custodial property is located in this Commonwealth. The custodianship socreated remains subject to this chapter despite a subsequent change inresidence of a transferor, the minor, or the custodian, or the removal ofcustodial property from the Commonwealth.

A person designated as custodian under this chapter is subject to personaljurisdiction in this Commonwealth with respect to any matter relating to thecustodianship.

A transfer that purports to be made and which is valid under the UniformTransfers to Minors Act, the Uniform Gifts to Minors Act, or a substantiallysimilar act of another state is governed by the law of the designated stateand may be executed and is enforceable in the Commonwealth if, at the time ofthe transfer, the transferor, the minor, or the custodian is a resident ofthe designated state or the custodial property is located in the designatedstate.

(1988, c. 516.)