Tex. Prop. Code Section 141.025
Additional Transfers to Custodianships in Existence Before Effective Date of Act

(a)

This section applies only to a transfer within the scope of Section 141.003 (Scope and Jurisdiction) made after September 1, 1995, to a custodian of a custodianship established before September 1, 1995, under the Texas Uniform Gifts to Minors Act.

(b)

This chapter does not prevent a person from making additional transfers to a custodianship described by Subsection (a). On the direction of the transferor or custodian, custodial property that is transferred to the custodianship shall be commingled with the custodial property of the custodianship established under the Texas Uniform Gifts to Minors Act. The additional transfers to the custodianship shall be administered and distributed on termination of the custodianship, as prescribed by this chapter, except that for purposes of Section 141.021 (Termination of Custodianship), the custodian shall transfer the custodial property to:

(1)

the beneficiary on the date the beneficiary attains 18 years of age or an earlier date as prescribed by Section 141.021 (Termination of Custodianship); or

(2)

the beneficiary’s estate if the individual dies before the date prescribed by Subdivision (1).

Added by Acts 1997, 75th Leg., ch. 221, Sec. 2, eff. Sept. 1, 1997. Amended by Acts 1997, 75th Leg., ch. 165, Sec. 31.01(72), eff. Sept. 1, 1997. Renumbered from Property Code Sec. 25 by Acts 1999, 76th Leg., ch. 62, Sec. 19.01(91), eff. Sept. 1, 1999.

Source: Section 141.025 — Additional Transfers to Custodianships in Existence Before Effective Date of Act, https://statutes.capitol.texas.gov/Docs/PR/htm/PR.141.htm#141.025 (accessed May 11, 2024).

141.001
Short Title 141.002
Definitions 141.003
Scope and Jurisdiction 141.004
Nomination of Custodian 141.005
Transfer by Gift or Exercise of Power of Appointment 141.006
Transfer Authorized by Will or Trust 141.007
Other Transfer by Fiduciary 141.008
Transfer by Obligor 141.009
Receipt for Custodial Property 141.010
Manner of Creating Custodial Property and Effecting Transfer 141.011
Single Custodianship 141.012
Validity and Effect of Transfer 141.013
Care of Custodial Property 141.014
Powers of Custodian 141.015
Use of Custodial Property 141.016
Custodian’s Expenses, Compensation, and Bond 141.017
Exemption of Third Person from Liability 141.018
Liability to Third Person 141.019
Renunciation, Resignation, Death, or Removal of Custodian 141.020
Accounting by and Determination of Liability 141.021
Termination of Custodianship 141.022
Applicability 141.023
Effect on Existing Custodianships 141.024
Uniformity of Application and Construction 141.025
Additional Transfers to Custodianships in Existence Before Effective Date of Act

Accessed:
May 11, 2024

§ 141.025’s source at texas.gov

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Location: https://texas.public.law/statutes/tex._prop._code_section_141.025

Original Source: Section 141.025 — Additional Transfers to Custodianships in Existence Before Effective Date of Act, https://statutes.capitol.texas.gov/Docs/PR/htm/PR.141.htm#141.025 (last accessed May 11, 2024).