{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/64.2-903.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/64.2-903.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/64.2-903.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/64.2-903.html"}],"law_id":58164,"edition_id":1,"section_id":58164,"structure_id":13564,"section_number":"64.2-903","catch_line":"Form and effect of receipt and acceptance by custodial trustee; jurisdiction","history":"1990, c. 264, \u00a7 55-34.4; 2012, c. 614.","full_text":"A\n\nObligations of a custodial trustee, including the obligation to follow directions of the beneficiary, arise under this chapter upon the custodial trustee’s acceptance, express or implied, of the custodial trust property.B\n\nThe custodial trustee’s acceptance may be evidenced by a writing stating in substance:\n\t\t\tCUSTODIAL TRUSTEE’S RECEIPT AND ACCEPTANCE\n\t\t\tI, ____________________ (name of custodial trustee), acknowledge receipt of the custodial trust property described below or in the attached instrument and accept the custodial trust as custodial trustee for ____________________ (name of beneficiary) under the Virginia Uniform Custodial Trust Act. I undertake to administer and distribute the custodial trust property pursuant to the Virginia Uniform Custodial Trust Act. My obligations as custodial trustee are subject to the directions of the beneficiary unless the beneficiary is designated as, is, or becomes incapacitated. The custodial trust property consists of ________________________________________.\n\t\t\tDated: ____________________\n\t\t\t________________________________________(signature of custodial trustee)C\n\nUpon accepting custodial trust property, a person designated as custodial trustee under this chapter is subject to personal jurisdiction of the court with respect to any matter relating to the custodial trust.","order_by":null,"text":{"0":{"id":213127,"text":"Obligations of a custodial trustee, including the obligation to follow directions of the beneficiary, arise under this chapter upon the custodial trustee’s acceptance, express or implied, of the custodial trust property.","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"B"},"1":{"id":213128,"text":"The custodial trustee’s acceptance may be evidenced by a writing stating in substance:\n\t\t\tCUSTODIAL TRUSTEE’S RECEIPT AND ACCEPTANCE\n\t\t\tI, ____________________ (name of custodial trustee), acknowledge receipt of the custodial trust property described below or in the attached instrument and accept the custodial trust as custodial trustee for ____________________ (name of beneficiary) under the Virginia Uniform Custodial Trust Act. I undertake to administer and distribute the custodial trust property pursuant to the Virginia Uniform Custodial Trust Act. My obligations as custodial trustee are subject to the directions of the beneficiary unless the beneficiary is designated as, is, or becomes incapacitated. The custodial trust property consists of ________________________________________.\n\t\t\tDated: ____________________\n\t\t\t________________________________________(signature of custodial trustee)","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A","next_prefix":"C"},"2":{"id":213129,"text":"Upon accepting custodial trust property, a person designated as custodial trustee under this chapter is subject to personal jurisdiction of the court with respect to any matter relating to the custodial trust.","type":"section","prefixes":["C"],"prefix":"C","entire_prefix":"C","prefix_anchor":"C","level":1,"prior_prefix":"B"}},"ancestry":[{"id":13564,"edition_id":1,"name":"Uniform Custodial Trust Act","identifier":"9","label":"chapter","depth":3,"order_by":1,"parent_id":12724,"metadata":{},"date_created":"2026-06-26 03:45:15","date_modified":"2026-06-26 03:45:15","permalink":{"id":274735,"object_type":"structure","relational_id":13564,"identifier":"9","token":"64.2\/III\/9","url":"\/64.2\/III\/9\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12724,"edition_id":1,"name":"Trusts","identifier":"III","label":"subtitle","depth":2,"order_by":1,"parent_id":12723,"metadata":{},"date_created":"2026-06-26 03:43:50","date_modified":"2026-06-26 03:43:50","permalink":{"id":273811,"object_type":"structure","relational_id":12724,"identifier":"III","token":"64.2\/III","url":"\/64.2\/III\/","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":66999,"structure_id":13564,"section_number":"64.2-900","catch_line":"Definitions","url":"\/64.2-900\/","token":"64.2\/III\/9\/64.2-900","metadata":false},{"id":57024,"structure_id":13564,"section_number":"64.2-901","catch_line":"Custodial trust; creation and termination; general provisions","url":"\/64.2-901\/","token":"64.2\/III\/9\/64.2-901","metadata":false},{"id":74644,"structure_id":13564,"section_number":"64.2-902","catch_line":"Custodial trustee for future payment or transfer","url":"\/64.2-902\/","token":"64.2\/III\/9\/64.2-902","metadata":false},{"id":58164,"structure_id":13564,"section_number":"64.2-903","catch_line":"Form and effect of receipt and acceptance by custodial trustee; jurisdiction","url":"\/64.2-903\/","token":"64.2\/III\/9\/64.2-903","metadata":false},{"id":77892,"structure_id":13564,"section_number":"64.2-904","catch_line":"Transfer to custodial trustee by fiduciary or obligor; facility of payment","url":"\/64.2-904\/","token":"64.2\/III\/9\/64.2-904","metadata":false},{"id":68669,"structure_id":13564,"section_number":"64.2-905","catch_line":"Multiple beneficiaries; separate custodial trusts; survivorship","url":"\/64.2-905\/","token":"64.2\/III\/9\/64.2-905","metadata":false},{"id":64170,"structure_id":13564,"section_number":"64.2-906","catch_line":"General duties of custodial trustee","url":"\/64.2-906\/","token":"64.2\/III\/9\/64.2-906","metadata":false},{"id":73358,"structure_id":13564,"section_number":"64.2-907","catch_line":"General powers of custodial trustee","url":"\/64.2-907\/","token":"64.2\/III\/9\/64.2-907","metadata":false},{"id":54526,"structure_id":13564,"section_number":"64.2-908","catch_line":"Use of custodial trust property","url":"\/64.2-908\/","token":"64.2\/III\/9\/64.2-908","metadata":false},{"id":68505,"structure_id":13564,"section_number":"64.2-909","catch_line":"Determination of incapacity; effect","url":"\/64.2-909\/","token":"64.2\/III\/9\/64.2-909","metadata":false},{"id":85961,"structure_id":13564,"section_number":"64.2-910","catch_line":"Exemption of third person from liability","url":"\/64.2-910\/","token":"64.2\/III\/9\/64.2-910","metadata":false},{"id":60757,"structure_id":13564,"section_number":"64.2-911","catch_line":"Liability to third person; exceptions","url":"\/64.2-911\/","token":"64.2\/III\/9\/64.2-911","metadata":false},{"id":84334,"structure_id":13564,"section_number":"64.2-912","catch_line":"Declination, resignation, incapacity, death, or removal of custodial trustee; designation of successor","url":"\/64.2-912\/","token":"64.2\/III\/9\/64.2-912","metadata":false},{"id":68794,"structure_id":13564,"section_number":"64.2-913","catch_line":"Expenses, compensation, and bond of custodial trustee","url":"\/64.2-913\/","token":"64.2\/III\/9\/64.2-913","metadata":false},{"id":67869,"structure_id":13564,"section_number":"64.2-914","catch_line":"Reporting and accounting by custodial trustee; determination of liability","url":"\/64.2-914\/","token":"64.2\/III\/9\/64.2-914","metadata":false},{"id":61760,"structure_id":13564,"section_number":"64.2-915","catch_line":"Limitations of action against custodial trustee","url":"\/64.2-915\/","token":"64.2\/III\/9\/64.2-915","metadata":false},{"id":58406,"structure_id":13564,"section_number":"64.2-916","catch_line":"Distribution on termination","url":"\/64.2-916\/","token":"64.2\/III\/9\/64.2-916","metadata":false},{"id":75814,"structure_id":13564,"section_number":"64.2-917","catch_line":"Methods and forms for creating custodial trusts","url":"\/64.2-917\/","token":"64.2\/III\/9\/64.2-917","metadata":false},{"id":71807,"structure_id":13564,"section_number":"64.2-918","catch_line":"Applicable law","url":"\/64.2-918\/","token":"64.2\/III\/9\/64.2-918","metadata":false}],"previous_section":{"id":74644,"structure_id":13564,"section_number":"64.2-902","catch_line":"Custodial trustee for future payment or transfer","url":"\/64.2-902\/","token":"64.2\/III\/9\/64.2-902","metadata":false},"next_section":{"id":77892,"structure_id":13564,"section_number":"64.2-904","catch_line":"Transfer to custodial trustee by fiduciary or obligor; facility of payment","url":"\/64.2-904\/","token":"64.2\/III\/9\/64.2-904","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/64.2-903\/","history_text":"

This law was first created in 1990. The record of its establishment is cataloged in chapter 264 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 1990 \u201cActs\u201d aren\u2019t available online. It has been modified 1 time. 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. That modification is as follows: in 2012, chapter 614<\/a>.<\/p>","references":false,"refers_to":false,"permalink":{"id":274749,"object_type":"law","relational_id":58164,"identifier":"64.2-903","token":"64.2\/III\/9\/64.2-903","url":"\/64.2-903\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/64.2-903\/","token":"64.2\/III\/9\/64.2-903","dublin_core":{"Title":"Form and effect of receipt and acceptance by custodial trustee; jurisdiction","Type":"Text","Format":"text\/html","Identifier":"\u00a7 64.2-903","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

A.<\/span> Obligations of a custodial trustee<\/span>, including the obligation to follow directions of the beneficiary<\/span>, arise under this chapter upon the custodial trustee<\/span>’s acceptance, express or implied, of the custodial trust property<\/span>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> The custodial trustee<\/span>’s acceptance may be evidenced by a writing stating in substance:\n\t\t\tCUSTODIAL TRUSTEE<\/span>’S RECEIPT AND ACCEPTANCE\n\t\t\tI, ____________________ (name of custodial trustee<\/span>), acknowledge receipt of the custodial trust property<\/span> described below or in the attached instrument and accept the custodial trust as custodial trustee<\/span> for ____________________ (name of beneficiary<\/span>) under the Virginia Uniform Custodial Trust Act. I undertake to administer and distribute the custodial trust property<\/span> pursuant to the Virginia Uniform Custodial Trust Act. My obligations as custodial trustee<\/span> are subject to the directions of the beneficiary<\/span> unless the beneficiary<\/span> is designated as, is, or becomes incapacitated<\/span>. The custodial trust property<\/span> consists of ________________________________________.\n\t\t\tDated: ____________________\n\t\t\t________________________________________(signature of custodial trustee<\/span>) <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

C.<\/span> Upon accepting custodial trust property<\/span>, a person<\/span> designated as custodial trustee<\/span> under this chapter is subject to personal jurisdiction<\/span> of the court<\/span> with respect to any matter relating to the custodial trust. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nFORM AND EFFECT OF RECEIPT AND ACCEPTANCE BY CUSTODIAL TRUSTEE; JURISDICTION (\u00a7\n64.2-903)\n\nA. Obligations of a custodial trustee, including the obligation to follow\ndirections of the beneficiary, arise under this chapter upon the custodial\ntrustee’s acceptance, express or implied, of the custodial trust property.\n\nB. The custodial trustee’s acceptance may be evidenced by a writing\nstating in substance:\n\t\t\tCUSTODIAL TRUSTEE’S RECEIPT AND ACCEPTANCE\n\t\t\tI, ____________________ (name of custodial trustee), acknowledge receipt of\nthe custodial trust property described below or in the attached instrument and\naccept the custodial trust as custodial trustee for ____________________ (name\nof beneficiary) under the Virginia Uniform Custodial Trust Act. I undertake to\nadminister and distribute the custodial trust property pursuant to the Virginia\nUniform Custodial Trust Act. My obligations as custodial trustee are subject to\nthe directions of the beneficiary unless the beneficiary is designated as, is,\nor becomes incapacitated. The custodial trust property consists of\n________________________________________.\n\t\t\tDated: ____________________\n\t\t\t________________________________________(signature of custodial trustee)\n\nC. Upon accepting custodial trust property, a person designated as custodial\ntrustee under this chapter is subject to personal jurisdiction of the court with\nrespect to any matter relating to the custodial trust.\n\nHISTORY: 1990, c. 264, \u00a7 55-34.4; 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}}