55-34.8 - General powers of custodial trustee. - Virginia Statutes

§ 55-34.8. General powers of custodial trustee.

A custodial trustee, acting in a fiduciary capacity, has all the rights andpowers over custodial trust property which an unmarried adult owner has overindividually owned property which shall include but not be limited to thosepowers set forth in § 64.1-57 as of the date the custodian acts, but acustodial trustee may exercise those rights and powers in a fiduciarycapacity only.

This section does not relieve a custodial trustee from liability for aviolation of § 55-34.7.

(1990, c. 264.)