                                 CODE OF VIRGINIA

USE OF CUSTODIAL PROPERTY (§ 64.2-1913)

A. A custodian may deliver or pay to the minor or expend for the minor&#8217;s
benefit so much of the custodial property as the custodian considers advisable
for the use and benefit of the minor, without court order and without regard to
(i) the duty or ability of the custodian personally or of any other person to
support the minor or (ii) any other income or property of the minor which may be
applicable or available for that purpose.

B. At any time a custodian may, without court order, transfer all or part of the
custodial property to a qualified minor&#8217;s trust. Such a transfer
terminates the custodianship to the extent of the custodial property
transferred.

C. On petition of an interested person or the minor if the minor has attained
the age of 14 years, the court may order the custodian to deliver or pay to the
minor or expend for the minor&#8217;s benefit so much of the custodial property
as the court considers advisable for the use and benefit of the minor.

D. A delivery, payment, or expenditure under this section is in addition to, not
in substitution for, and does not affect any obligation of a person to support
the minor.

HISTORY: 1988, c. 516, § 31-50; 2007, c. 307; 2012, c. 614.