14-7661. Validity and effect of
transfer
A. The validity of a transfer made in a manner prescribed in this article is not
affected by any of the following:
1. Failure of the transferor to comply with section 14-7659, subsection C
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
pursuant to section 14-7659, subsection A.
3. Death or incapacity of a person nominated pursuant to section 14-7653 or
designated under section 14-7659 as custodian or the disclaimer of the office by that
person.
B. A transfer made pursuant to section 14-7659 is irrevocable, and the custodial
property is indefeasibly vested in the minor. The custodian has all the rights, powers,
duties and authority provided in this article, 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 article.
C. By making a transfer, the transferor incorporates in the disposition all the
provisions of this article 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 article.
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