2005 Idaho Code - 68-811 — VALIDITY AND EFFECT OF TRANSFER

                                  TITLE  68
                            TRUSTS AND FIDUCIARIES
                                  CHAPTER 8
                             TRANSFERS TO MINORS
    68-811.  VALIDITY AND EFFECT OF TRANSFER. (1) The validity of a transfer
made in a manner prescribed in this chapter is not affected by:
    (a)  Failure of the transferor to comply with section 68-809(3), Idaho
    Code, concerning possession and control;
    (b)  Designation of an ineligible custodian, except designation of the
    transferor in the case of property for which the transferor is ineligible
    to serve as custodian under section 68-809(1), Idaho Code; or
    (c)  Death or incapacity of a person nominated under section 68-803, Idaho
    Code, or designated under section 68-809, Idaho Code, as custodian or the
    disclaimer of the office by that person.
    (2)  A transfer made pursuant to section 68-809, Idaho Code, is
irrevocable, and the custodial property is indefeasibly vested in the minor,
but the custodian has all the rights, powers, duties, and authority provided
in this chapter, and neither the minor nor the minor's legal representative
has any right, power, duty, or authority with respect to the custodial
property except as provided in this chapter.
    (c)[(3)]  By making a transfer, the transferor incorporates in the
disposition all the provisions of this chapter and grants to the custodian,
and to any third person dealing with a person designated as custodian, the
respective powers, rights, and immunities provided in this chapter.