2005 Idaho Code - 68-1307 — GENERAL DUTIES OF CUSTODIAL TRUSTEE

                                  TITLE  68
                            TRUSTS AND FIDUCIARIES
                                  CHAPTER 13
                      IDAHO UNIFORM CUSTODIAL TRUST ACT
    68-1307.  GENERAL DUTIES OF CUSTODIAL TRUSTEE. (1)  If appropriate, a
custodial trustee shall register or record the instrument vesting title to
custodial trust property.
    (2)  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 that would be observed by
a prudent person dealing with property of another and is not limited by any
other law restricting investments by fiduciaries.  However, a custodial
trustee, in the custodial trustee's discretion, may retain any custodial trust
property received from the transferor.  If a custodial trustee has a special
skill or expertise or is named custodial trustee on the basis of
representation of a special skill or expertise, the custodial trustee shall
use that skill or expertise.
    (3)  Subject to subsection (2) of this section, a custodial trustee shall
take control of and collect, hold, manage, invest, and reinvest custodial
trust property.
    (4)  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 Idaho uniform custodial trust act."
    (5)  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.
    (6)  The exercise of a durable power of attorney for an incapacitated
beneficiary is not effective to terminate or direct the administration or
distribution of a custodial trust.