{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/64.2-1911.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/64.2-1911.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/64.2-1911.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/64.2-1911.html"}],"law_id":56318,"edition_id":1,"section_id":56318,"structure_id":14685,"section_number":"64.2-1911","catch_line":"Care of custodial property; duties of custodian","history":"1988, c. 516, \u00a7 31-48; 2007, c. 517; 2012, c. 614.","full_text":"A\n\nA custodian shall take control of custodial property, register or record title to custodial property, if appropriate, and collect, hold, manage, invest, and reinvest custodial property.B\n\nIn dealing with custodial property, a custodian shall observe the standard of care set forth in the Uniform Prudent Investor Act (§ 64.2-780 et seq.), except to the extent provided by § 64.2-1502. However, a custodian, in the custodian’s discretion and without liability to the minor or the minor’s estate, may retain any custodial property received from a transferor.C\n\nA custodian may invest in or pay premiums on life insurance or endowment policies on (i) the life of the minor only if the minor or the minor’s estate is the sole beneficiary or (ii) the life of another person in whom the minor has an insurable interest only to the extent that the minor, the minor’s estate, or the custodian in the capacity of custodian is the beneficiary during the period of custodianship.D\n\nA custodian at all times shall keep custodial property separate and distinct from all other property in a manner sufficient to identify it clearly as custodial property of the minor. Custodial property consisting of an undivided interest is so identified if the minor’s interest is held as a tenant in common and is fixed. Custodial property subject to recordation is so identified if it is recorded, and custodial property subject to registration is so identified if it is either registered, or held in an account designated, in the name of the custodian, followed in substance by the words: “as a custodian for………(name of minor) under the Virginia Uniform Transfers to Minors Act.”E\n\nA custodian shall keep records of all transactions with respect to custodial property, including the information necessary for the preparation of the minor’s tax returns, and shall make them available for inspection at reasonable intervals by a parent or legal representative of the minor or by the minor if the minor has attained the age of 14 years.","order_by":null,"text":{"0":{"id":206263,"text":"A custodian shall take control of custodial property, register or record title to custodial property, if appropriate, and collect, hold, manage, invest, and reinvest custodial property.","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"B"},"1":{"id":206264,"text":"In dealing with custodial property, a custodian shall observe the standard of care set forth in the Uniform Prudent Investor Act (§ 64.2-780 et seq.), except to the extent provided by § 64.2-1502. However, a custodian, in the custodian’s discretion and without liability to the minor or the minor’s estate, may retain any custodial property received from a transferor.","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A","next_prefix":"C"},"2":{"id":206265,"text":"A custodian may invest in or pay premiums on life insurance or endowment policies on (i) the life of the minor only if the minor or the minor’s estate is the sole beneficiary or (ii) the life of another person in whom the minor has an insurable interest only to the extent that the minor, the minor’s estate, or the custodian in the capacity of custodian is the beneficiary during the period of custodianship.","type":"section","prefixes":["C"],"prefix":"C","entire_prefix":"C","prefix_anchor":"C","level":1,"prior_prefix":"B","next_prefix":"D"},"3":{"id":206266,"text":"A custodian at all times shall keep custodial property separate and distinct from all other property in a manner sufficient to identify it clearly as custodial property of the minor. Custodial property consisting of an undivided interest is so identified if the minor’s interest is held as a tenant in common and is fixed. Custodial property subject to recordation is so identified if it is recorded, and custodial property subject to registration is so identified if it is either registered, or held in an account designated, in the name of the custodian, followed in substance by the words: “as a custodian for………(name of minor) under the Virginia Uniform Transfers to Minors Act.”","type":"section","prefixes":["D"],"prefix":"D","entire_prefix":"D","prefix_anchor":"D","level":1,"prior_prefix":"C","next_prefix":"E"},"4":{"id":206267,"text":"A custodian shall keep records of all transactions with respect to custodial property, including the information necessary for the preparation of the minor’s tax returns, and shall make them available for inspection at reasonable intervals by a parent or legal representative of the minor or by the minor if the minor has attained the age of 14 years.","type":"section","prefixes":["E"],"prefix":"E","entire_prefix":"E","prefix_anchor":"E","level":1,"prior_prefix":"D"}},"ancestry":[{"id":14685,"edition_id":1,"name":"Virginia Uniform Transfers to Minors Act","identifier":"19","label":"chapter","depth":4,"order_by":1,"parent_id":13807,"metadata":{},"date_created":"2026-06-26 03:49:21","date_modified":"2026-06-26 03:49:21","permalink":{"id":275399,"object_type":"structure","relational_id":14685,"identifier":"19","token":"64.2\/IV\/C\/19","url":"\/64.2\/IV\/C\/19\/","edition_id":1,"permalink":0,"preferred":1}},{"id":13807,"edition_id":1,"name":"Guardianship of Minor","identifier":"C","label":"part","depth":3,"order_by":1,"parent_id":12905,"metadata":{},"date_created":"2026-06-26 03:45:56","date_modified":"2026-06-26 03:45:56","permalink":{"id":275337,"object_type":"structure","relational_id":13807,"identifier":"C","token":"64.2\/IV\/C","url":"\/64.2\/IV\/C\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12905,"edition_id":1,"name":"Fiduciaries and Guardians","identifier":"IV","label":"subtitle","depth":2,"order_by":1,"parent_id":12723,"metadata":{},"date_created":"2026-06-26 03:44:00","date_modified":"2026-06-26 03:44:00","permalink":{"id":274813,"object_type":"structure","relational_id":12905,"identifier":"IV","token":"64.2\/IV","url":"\/64.2\/IV\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12723,"edition_id":1,"name":"Wills, Trusts, and Fiduciaries","identifier":"64.2","label":"title","depth":1,"order_by":1,"parent_id":null,"metadata":{},"date_created":"2026-06-26 03:43:50","date_modified":"2026-06-26 03:43:50","permalink":{"id":272781,"object_type":"structure","relational_id":12723,"identifier":"64.2","token":"64.2","url":"\/64.2\/","edition_id":1,"permalink":0,"preferred":1}}],"structure_contents":[{"id":65466,"structure_id":14685,"section_number":"64.2-1900","catch_line":"Definitions","url":"\/64.2-1900\/","token":"64.2\/IV\/C\/19\/64.2-1900","metadata":false},{"id":60782,"structure_id":14685,"section_number":"64.2-1901","catch_line":"Scope and jurisdiction","url":"\/64.2-1901\/","token":"64.2\/IV\/C\/19\/64.2-1901","metadata":false},{"id":74303,"structure_id":14685,"section_number":"64.2-1902","catch_line":"Nomination of custodian","url":"\/64.2-1902\/","token":"64.2\/IV\/C\/19\/64.2-1902","metadata":false},{"id":77870,"structure_id":14685,"section_number":"64.2-1903","catch_line":"Transfer by gift or exercise of power of appointment","url":"\/64.2-1903\/","token":"64.2\/IV\/C\/19\/64.2-1903","metadata":false},{"id":79169,"structure_id":14685,"section_number":"64.2-1904","catch_line":"Transfer authorized by will or trust","url":"\/64.2-1904\/","token":"64.2\/IV\/C\/19\/64.2-1904","metadata":false},{"id":79226,"structure_id":14685,"section_number":"64.2-1905","catch_line":"Other transfer by fiduciary","url":"\/64.2-1905\/","token":"64.2\/IV\/C\/19\/64.2-1905","metadata":false},{"id":61196,"structure_id":14685,"section_number":"64.2-1906","catch_line":"Transfer by obligor","url":"\/64.2-1906\/","token":"64.2\/IV\/C\/19\/64.2-1906","metadata":false},{"id":83598,"structure_id":14685,"section_number":"64.2-1907","catch_line":"Receipt for custodial property","url":"\/64.2-1907\/","token":"64.2\/IV\/C\/19\/64.2-1907","metadata":false},{"id":82555,"structure_id":14685,"section_number":"64.2-1908","catch_line":"Manner of creating custodial property and effecting transfer; designation of initial custodian; control","url":"\/64.2-1908\/","token":"64.2\/IV\/C\/19\/64.2-1908","metadata":false},{"id":62208,"structure_id":14685,"section_number":"64.2-1909","catch_line":"Single and joint custodians","url":"\/64.2-1909\/","token":"64.2\/IV\/C\/19\/64.2-1909","metadata":false},{"id":78444,"structure_id":14685,"section_number":"64.2-1910","catch_line":"Validity and effect of transfer","url":"\/64.2-1910\/","token":"64.2\/IV\/C\/19\/64.2-1910","metadata":false},{"id":56318,"structure_id":14685,"section_number":"64.2-1911","catch_line":"Care of custodial property; duties of custodian","url":"\/64.2-1911\/","token":"64.2\/IV\/C\/19\/64.2-1911","metadata":false},{"id":83168,"structure_id":14685,"section_number":"64.2-1912","catch_line":"Powers of custodian","url":"\/64.2-1912\/","token":"64.2\/IV\/C\/19\/64.2-1912","metadata":false},{"id":60473,"structure_id":14685,"section_number":"64.2-1913","catch_line":"Use of custodial property","url":"\/64.2-1913\/","token":"64.2\/IV\/C\/19\/64.2-1913","metadata":false},{"id":78698,"structure_id":14685,"section_number":"64.2-1914","catch_line":"Custodian's expenses, compensation, and bond","url":"\/64.2-1914\/","token":"64.2\/IV\/C\/19\/64.2-1914","metadata":false},{"id":64823,"structure_id":14685,"section_number":"64.2-1915","catch_line":"Exemption of third person from liability","url":"\/64.2-1915\/","token":"64.2\/IV\/C\/19\/64.2-1915","metadata":false},{"id":59272,"structure_id":14685,"section_number":"64.2-1916","catch_line":"Liability to third persons","url":"\/64.2-1916\/","token":"64.2\/IV\/C\/19\/64.2-1916","metadata":false},{"id":69800,"structure_id":14685,"section_number":"64.2-1917","catch_line":"Renunciation, resignation, death, or removal of custodian; designation of successor custodian","url":"\/64.2-1917\/","token":"64.2\/IV\/C\/19\/64.2-1917","metadata":false},{"id":65755,"structure_id":14685,"section_number":"64.2-1918","catch_line":"Accounting by and determination of liability of custodian","url":"\/64.2-1918\/","token":"64.2\/IV\/C\/19\/64.2-1918","metadata":false},{"id":70368,"structure_id":14685,"section_number":"64.2-1919","catch_line":"Termination of custodianship","url":"\/64.2-1919\/","token":"64.2\/IV\/C\/19\/64.2-1919","metadata":false},{"id":62696,"structure_id":14685,"section_number":"64.2-1920","catch_line":"Applicability","url":"\/64.2-1920\/","token":"64.2\/IV\/C\/19\/64.2-1920","metadata":false},{"id":70217,"structure_id":14685,"section_number":"64.2-1921","catch_line":"Effect on existing custodianships","url":"\/64.2-1921\/","token":"64.2\/IV\/C\/19\/64.2-1921","metadata":false},{"id":58715,"structure_id":14685,"section_number":"64.2-1922","catch_line":"Uniformity of application and construction","url":"\/64.2-1922\/","token":"64.2\/IV\/C\/19\/64.2-1922","metadata":false}],"previous_section":{"id":78444,"structure_id":14685,"section_number":"64.2-1910","catch_line":"Validity and effect of transfer","url":"\/64.2-1910\/","token":"64.2\/IV\/C\/19\/64.2-1910","metadata":false},"next_section":{"id":83168,"structure_id":14685,"section_number":"64.2-1912","catch_line":"Powers of custodian","url":"\/64.2-1912\/","token":"64.2\/IV\/C\/19\/64.2-1912","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/64.2-1911\/","history_text":"

This law was first created in 1988. The record of its establishment is cataloged in chapter 516 of that year\u2019s edition of \u201cActs of Assembly,\u201d the annual state publication listing all changes made to the Code of Virginia in that year. Unfortunately, the 1988 \u201cActs\u201d aren\u2019t available online. It has been modified 2 times. Those modifications are cataloged by \u201cThe Acts of Assembly,\u201d a state publication, by year and chapter. Those modifications that can be read on the General Assembly\u2019s website will be linked accordingly. Those modifications are as follows: in 2007, chapter 517<\/a>; in 2012, chapter 614<\/a>.<\/p>","references":[{"id":55439,"section_number":"64.2-1502","catch_line":"In what securities fiduciaries may invest; definitions","order_by":null,"url":"\/64.2-1502\/"},{"id":83168,"section_number":"64.2-1912","catch_line":"Powers of custodian","order_by":null,"url":"\/64.2-1912\/"},{"id":57841,"section_number":"64.2-780","catch_line":"Definition of terms","order_by":null,"url":"\/64.2-780\/"}],"refers_to":[{"id":55439,"section_number":"64.2-1502","catch_line":"In what securities fiduciaries may invest; definitions","order_by":null,"url":"\/64.2-1502\/"},{"id":57841,"section_number":"64.2-780","catch_line":"Definition of terms","order_by":null,"url":"\/64.2-780\/"}],"permalink":{"id":275445,"object_type":"law","relational_id":56318,"identifier":"64.2-1911","token":"64.2\/IV\/C\/19\/64.2-1911","url":"\/64.2-1911\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/64.2-1911\/","token":"64.2\/IV\/C\/19\/64.2-1911","dublin_core":{"Title":"Care of custodial property; duties of custodian","Type":"Text","Format":"text\/html","Identifier":"\u00a7 64.2-1911","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

A.<\/span> A custodian<\/span> shall take control of custodial property<\/span>, register or record title to custodial property<\/span>, if appropriate, and collect, hold, manage, invest, and reinvest custodial property<\/span>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> In dealing with custodial property<\/span>, a custodian<\/span> shall observe the standard of care set forth in the Uniform Prudent Investor Act (§ 64.2-780<\/a> et seq.), except to the extent provided by § 64.2-1502<\/a>. However, a custodian<\/span>, in the custodian<\/span>’s discretion and without liability to the minor<\/span> or the minor<\/span>’s estate, may retain any custodial property<\/span> received from a transferor<\/span>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

C.<\/span> A custodian<\/span> may invest in or pay premiums on life insurance or endowment policies on (i) the life of the minor<\/span> only if the minor<\/span> or the minor<\/span>’s estate is the sole beneficiary or (ii) the life of another person<\/span> in whom the minor<\/span> has an insurable interest only to the extent that the minor<\/span>, the minor<\/span>’s estate, or the custodian<\/span> in the capacity of custodian<\/span> is the beneficiary during the period of custodianship. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

D.<\/span> A custodian<\/span> at all times shall keep custodial property<\/span> separate and distinct from all other property in a manner sufficient to identify it clearly as custodial property<\/span> of the minor<\/span>. Custodial property<\/span> consisting of an undivided interest is so identified if the minor<\/span>’s interest is held as a tenant in common and is fixed. Custodial property<\/span> subject to recordation is so identified if it is recorded, and custodial property<\/span> subject to registration is so identified if it is either registered, or held in an account designated, in the name of the custodian<\/span>, followed in substance by the words: “as a custodian<\/span> for………(name of minor<\/span>) under the Virginia Uniform Transfers<\/span> to Minors<\/span> Act.” <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

E.<\/span> A custodian<\/span> shall keep records of all transactions with respect to custodial property<\/span>, including the information necessary for the preparation of the minor<\/span>’s tax returns, and shall make them available for inspection at reasonable intervals by a parent or legal representative<\/span> of the minor<\/span> or by the minor<\/span> if the minor<\/span> has attained the age of 14 years. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nCARE OF CUSTODIAL PROPERTY; DUTIES OF CUSTODIAN (\u00a7 64.2-1911)\n\nA. A custodian shall take control of custodial property, register or record\ntitle to custodial property, if appropriate, and collect, hold, manage, invest,\nand reinvest custodial property.\n\nB. In dealing with custodial property, a custodian shall observe the standard of\ncare set forth in the Uniform Prudent Investor Act (§ 64.2-780 et seq.),\nexcept to the extent provided by § 64.2-1502. However, a custodian, in the\ncustodian’s discretion and without liability to the minor or the\nminor’s estate, may retain any custodial property received from a\ntransferor.\n\nC. A custodian may invest in or pay premiums on life insurance or endowment\npolicies on (i) the life of the minor only if the minor or the minor’s\nestate is the sole beneficiary or (ii) the life of another person in whom the\nminor has an insurable interest only to the extent that the minor, the\nminor’s estate, or the custodian in the capacity of custodian is the\nbeneficiary during the period of custodianship.\n\nD. A custodian at all times shall keep custodial property separate and distinct\nfrom all other property in a manner sufficient to identify it clearly as\ncustodial property of the minor. Custodial property consisting of an undivided\ninterest is so identified if the minor’s interest is held as a tenant in\ncommon and is fixed. Custodial property subject to recordation is so identified\nif it is recorded, and custodial property subject to registration is so\nidentified if it is either registered, or held in an account designated, in the\nname of the custodian, followed in substance by the words: “as a custodian\nfor………(name of minor) under the Virginia Uniform Transfers to\nMinors Act.”\n\nE. A custodian shall keep records of all transactions with respect to custodial\nproperty, including the information necessary for the preparation of the\nminor’s tax returns, and shall make them available for inspection at\nreasonable intervals by a parent or legal representative of the minor or by the\nminor if the minor has attained the age of 14 years.\n\nHISTORY: 1988, c. 516, \u00a7 31-48; 2007, c. 517; 2012, c. 614.","edition":{"id":1,"name":"2025","slug":"2025","date_created":"2026-06-21 22:39:22","date_modified":"2026-06-21 22:39:22","current":1,"order_by":1,"last_import":null}}