{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/64.2-906.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/64.2-906.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/64.2-906.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/64.2-906.html"}],"law_id":64170,"edition_id":1,"section_id":64170,"structure_id":13564,"section_number":"64.2-906","catch_line":"General duties of custodial trustee","history":"1990, c. 264, \u00a7 55-34.7; 2007, c. 517; 2010, cc. 455, 632; 2012, c. 614.","full_text":"A\n\nIf appropriate, a custodial trustee shall register or record the instrument vesting title to custodial trust property. If the beneficiary is not incapacitated, a custodial trustee shall follow the directions of the beneficiary in the management, control, investment, or retention of the custodial trust property. In the absence of effective contrary direction by the beneficiary while not incapacitated, the custodial trustee 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 custodial trustee, in the custodial trustee’s discretion, may retain any custodial trust property received from the transferor. Subject to this subsection, a custodial trustee shall take control of and collect, hold, manage, invest, and reinvest custodial trust property.B\n\nA custodial trustee at all times shall keep custodial trust property of which the custodial trustee has control, separate from all other property in a manner sufficient to identify it clearly as custodial trust property of the beneficiary. Custodial trust property, the title to which is subject to recordation, is so identified if an appropriate instrument so identifying the property is recorded, and custodial trust property subject to registration is so identified if it is registered, or held in an account in the name of the custodial trustee, designated in substance: “as custodial trustee for ____________________ (name of beneficiary) under the Virginia Uniform Custodial Trust Act.”C\n\nA custodial trustee shall keep records of all transactions with respect to custodial trust property, including information necessary for the preparation of tax returns, and shall make the records and information available at reasonable times to the beneficiary or legal representative of the beneficiary.D\n\nAn agent under a power of attorney for an incapacitated beneficiary may not terminate or direct the administration of a custodial trust.","order_by":null,"text":{"0":{"id":233615,"text":"If appropriate, a custodial trustee shall register or record the instrument vesting title to custodial trust property. If the beneficiary is not incapacitated, a custodial trustee shall follow the directions of the beneficiary in the management, control, investment, or retention of the custodial trust property. In the absence of effective contrary direction by the beneficiary while not incapacitated, the custodial trustee 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 custodial trustee, in the custodial trustee’s discretion, may retain any custodial trust property received from the transferor. Subject to this subsection, a custodial trustee shall take control of and collect, hold, manage, invest, and reinvest custodial trust property.","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"B"},"1":{"id":233616,"text":"A custodial trustee at all times shall keep custodial trust property of which the custodial trustee has control, separate from all other property in a manner sufficient to identify it clearly as custodial trust property of the beneficiary. Custodial trust property, the title to which is subject to recordation, is so identified if an appropriate instrument so identifying the property is recorded, and custodial trust property subject to registration is so identified if it is registered, or held in an account in the name of the custodial trustee, designated in substance: “as custodial trustee for ____________________ (name of beneficiary) under the Virginia Uniform Custodial Trust Act.”","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A","next_prefix":"C"},"2":{"id":233617,"text":"A custodial trustee shall keep records of all transactions with respect to custodial trust property, including information necessary for the preparation of tax returns, and shall make the records and information available at reasonable times to the beneficiary or legal representative of the beneficiary.","type":"section","prefixes":["C"],"prefix":"C","entire_prefix":"C","prefix_anchor":"C","level":1,"prior_prefix":"B","next_prefix":"D"},"3":{"id":233618,"text":"An agent under a power of attorney for an incapacitated beneficiary may not terminate or direct the administration of a custodial trust.","type":"section","prefixes":["D"],"prefix":"D","entire_prefix":"D","prefix_anchor":"D","level":1,"prior_prefix":"C"}},"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":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},"next_section":{"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},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/64.2-906\/","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 3 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 2010, chapters 455<\/a> and 632<\/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":57841,"section_number":"64.2-780","catch_line":"Definition of terms","order_by":null,"url":"\/64.2-780\/"},{"id":68669,"section_number":"64.2-905","catch_line":"Multiple beneficiaries; separate custodial trusts; survivorship","order_by":null,"url":"\/64.2-905\/"},{"id":73358,"section_number":"64.2-907","catch_line":"General powers of custodial trustee","order_by":null,"url":"\/64.2-907\/"}],"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":274761,"object_type":"law","relational_id":64170,"identifier":"64.2-906","token":"64.2\/III\/9\/64.2-906","url":"\/64.2-906\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/64.2-906\/","token":"64.2\/III\/9\/64.2-906","dublin_core":{"Title":"General duties of custodial trustee","Type":"Text","Format":"text\/html","Identifier":"\u00a7 64.2-906","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

A.<\/span> If appropriate, a custodial trustee<\/span> shall register or record the instrument vesting title to custodial trust property<\/span>. If the beneficiary<\/span> is not incapacitated<\/span>, a custodial trustee<\/span> shall follow the directions of the beneficiary<\/span> in the management, control, investment, or retention of the custodial trust property<\/span>. In the absence of effective contrary direction by the beneficiary<\/span> while not incapacitated<\/span>, the custodial trustee<\/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 custodial trustee<\/span>, in the custodial trustee<\/span>’s discretion, may retain any custodial trust property<\/span> received from the transferor<\/span>. Subject to this subsection, a custodial trustee<\/span> shall take control of and collect, hold, manage, invest, and reinvest custodial trust property<\/span>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> A custodial trustee<\/span> at all times shall keep custodial trust property<\/span> of which the custodial trustee<\/span> has control, separate from all other property in a manner sufficient to identify it clearly as custodial trust property<\/span> of the beneficiary<\/span>. Custodial trust property<\/span>, the title to which is subject to recordation, is so identified if an appropriate instrument so identifying the property is recorded, and custodial trust property<\/span> subject to registration is so identified if it is registered, or held in an account in the name of the custodial trustee<\/span>, designated in substance: “as custodial trustee<\/span> for ____________________ (name of beneficiary<\/span>) under the Virginia Uniform Custodial Trust Act.” <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

C.<\/span> A custodial trustee<\/span> shall keep records of all transactions with respect to custodial trust property<\/span>, including information necessary for the preparation of tax returns, and shall make the records and information available at reasonable times to the beneficiary<\/span> or legal representative<\/span> of the beneficiary<\/span>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

D.<\/span> An agent under a power of attorney<\/span> for an incapacitated<\/span> beneficiary<\/span> may not terminate or direct the administration of a custodial trust. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nGENERAL DUTIES OF CUSTODIAL TRUSTEE (\u00a7 64.2-906)\n\nA. If appropriate, a custodial trustee shall register or record the instrument\nvesting title to custodial trust property. If the beneficiary is not\nincapacitated, a custodial trustee shall follow the directions of the\nbeneficiary in the management, control, investment, or retention of the\ncustodial trust property. In the absence of effective contrary direction by the\nbeneficiary while not incapacitated, the custodial trustee shall observe the\nstandard of care set forth in the Uniform Prudent Investor Act (§ 64.2-780\net seq.), except to the extent provided by § 64.2-1502. However, a\ncustodial trustee, in the custodial trustee’s discretion, may retain any\ncustodial trust property received from the transferor. Subject to this\nsubsection, a custodial trustee shall take control of and collect, hold, manage,\ninvest, and reinvest custodial trust property.\n\nB. A custodial trustee at all times shall keep custodial trust property of which\nthe custodial trustee has control, separate from all other property in a manner\nsufficient to identify it clearly as custodial trust property of the\nbeneficiary. Custodial trust property, the title to which is subject to\nrecordation, is so identified if an appropriate instrument so identifying the\nproperty is recorded, and custodial trust property subject to registration is so\nidentified if it is registered, or held in an account in the name of the\ncustodial trustee, designated in substance: “as custodial trustee for\n____________________ (name of beneficiary) under the Virginia Uniform Custodial\nTrust Act.”\n\nC. A custodial trustee shall keep records of all transactions with respect to\ncustodial trust property, including information necessary for the preparation of\ntax returns, and shall make the records and information available at reasonable\ntimes to the beneficiary or legal representative of the beneficiary.\n\nD. An agent under a power of attorney for an incapacitated beneficiary may not\nterminate or direct the administration of a custodial trust.\n\nHISTORY: 1990, c. 264, \u00a7 55-34.7; 2007, c. 517; 2010, cc. 455, 632; 2012, c.\n614.","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}}