2005 Idaho Code - 68-1316 — LIMITATIONS OF ACTION AGAINST CUSTODIAL TRUSTEE

                                  TITLE  68
                            TRUSTS AND FIDUCIARIES
                                  CHAPTER 13
                      IDAHO UNIFORM CUSTODIAL TRUST ACT
    68-1316.  LIMITATIONS OF ACTION AGAINST CUSTODIAL TRUSTEE. (1)  Except as
provided in subsection (3) of this section, unless previously barred by
adjudication, consent, or limitation, a claim for relief against a custodial
trustee for accounting or breach of duty is barred as to a beneficiary, a
person to whom custodial trust property is to be paid or delivered, or the
legal representative of an incapacitated or deceased beneficiary or payee:
    (a)  Who has received a final account or statement fully disclosing the
    matter unless an action or proceeding to assert the claim is commenced
    within two (2) years after receipt of the final account or statement; or
    (b)  Who has not received a final account or statement fully disclosing
    the matter unless an action or proceeding to assert the claim is commenced
    within three (3) years after the termination of the custodial trust.
    (2)  Except as provided in subsection (3) of this section, a claim for
relief to recover from a custodial trustee for fraud, misrepresentation, or
concealment related to the final settlement of the custodial trust or
concealment of the existence of the custodial trust, is barred unless an
action or proceeding to assert the claim is commenced within five (5) years
after the termination of the custodial trust.
    (3)  A claim for relief is not barred by this section if the claimant:
    (a)  Is a minor, until the earlier of two (2) years after the claimant
    becomes an adult or dies;
    (b)  Is an incapacitated adult, until the earliest of two (2) years after
    (i) the appointment of a conservator, (ii) the removal of the incapacity,
    or (iii) the death of the claimant; or
    (c)  Was an adult, now deceased, who was not incapacitated, until two (2)
    years after the claimant's death.