RSA 463-A:11 · Validity and Effect of Transfer

463-A:11 Validity and Effect of Transfer. –

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I.

The validity of a transfer made in a manner prescribed by the provisions of this chapter shall not be affected by:

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(a)

Failure of the transferor to comply with RSA 463-A:9, III, concerning the possession and control;

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(b)

Designation of an ineligible custodian, except designation of the transferor in the case of property for which the transferor is ineligible to serve as custodian under RSA 463-A:9, I; or

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(c)

Death or incapacity of a person nominated under RSA 463-A:3 or designated under RSA 463-A:9 as custodian or the disclaimer of the office by that person.

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II.

A transfer made pursuant to RSA 463-A:9 is irrevocable, and the custodial property is indefeasibly vested in the minor, but the custodian has all the rights, powers, duties, and authority provided in this chapter, and neither the minor nor the minor's legal representative has any right, power, duty, or authority with respect to the custodial property except as provided in this chapter.

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III.

By making a transfer, the transferor incorporates in the disposition all the provisions of this chapter and grants to the custodian, and to any third person dealing with a person designated as custodian, the respective powers, rights, and immunities provided in this chapter. Source. 1985, 197:1, eff. July 30, 1985.

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