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 Jun. 5, 2024).

Accessed:
Jun. 5, 2024

§ 141.025’s source at texas​.gov