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Current as of January 01, 2025 | Updated by Findlaw Staff
(a) The validity of a transfer made in a manner prescribed in this subtitle is not affected by:
(1) Failure of the transferor to comply with § 13-309(c) of this subtitle concerning possession and control;
(2) 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 § 13-309(a) of this subtitle; or
(b) A transfer made under § 13-309 of this subtitle 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 subtitle, 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 subtitle.
(c) By making a transfer, the transferor incorporates in the disposition all the provisions of this subtitle 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 subtitle.
Cite this article: FindLaw.com - Maryland Code, Estates and Trusts § 13-311 - last updated January 01, 2025 | https://codes.findlaw.com/md/estates-and-trusts/md-code-est-and-trst-sect-13-311/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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