31-46 - Single and joint custodians. - Virginia Statutes

§ 31-46. Single and joint custodians.

A transfer may be made only for one minor, and up to two persons may be jointcustodians. All custodial property held under this chapter by the samecustodian or joint custodians for the benefit of the same minor constitutes asingle custodianship. Unless otherwise specified in any document creating thecustodial property, each joint custodian shall have full power and authorityto act alone with respect to the custodial property. If either jointcustodian resigns, dies, becomes incapacitated, or is removed, then theremaining joint custodian shall become sole custodian.

(1988, c. 516; 2006, c. 657.)