Section 11.23 Obligation to Administer Custodial Property

LibraryTrusts and Powers 2013 Supp

A. (§11.23) Obligation to Administer Custodial Property

A person who accepts or holds property as a custodian for a minor under the Missouri Transfers to Minors Law (MTML), §§ 404.005–404.094, RSMo 2000, assumes the obligation to administer the custodial property for the minor as prescribed in the law. Section 404.018, RSMo 2000. A transfer of property to a person to hold as custodian for a minor who is not qualified to act as a custodian does not affect the minor’s ownership rights in the...

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