                                 CODE OF VIRGINIA

FORM AND EFFECT OF RECEIPT AND ACCEPTANCE BY CUSTODIAL TRUSTEE; JURISDICTION (§
64.2-903)

A. Obligations of a custodial trustee, including the obligation to follow
directions of the beneficiary, arise under this chapter upon the custodial
trustee&#8217;s acceptance, express or implied, of the custodial trust property.

B. The custodial trustee&#8217;s acceptance may be evidenced by a writing
stating in substance:
			CUSTODIAL TRUSTEE&#8217;S RECEIPT AND ACCEPTANCE
			I, ____________________ (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
________________________________________.
			Dated: ____________________
			________________________________________(signature of custodial trustee)

C. 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.

HISTORY: 1990, c. 264, § 55-34.4; 2012, c. 614.