2010 Maryland Code
ESTATES AND TRUSTS
TITLE 13 - PROTECTION OF MINORS AND DISABLED PERSONS
Subtitle 3 - Maryland Uniform Transfers to Minors Act
Section 13-314 - Delivery or payment to minor or for minor's use and benefit.
§ 13-314. Delivery or payment to minor or for minor's use and benefit.
(a) In general.- A custodian may deliver or pay to the minor or expend for the minor'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:
(1) The duty or ability of the custodian personally or of any other person to support the minor; or
(2) Any other income or property of the minor which may be applicable or available for that purpose.
(b) Transfer.-
(1) Subject to paragraphs (3) and (4) of this subsection, a custodian may transfer all or part of the custodial property to a qualified minor's trust without a court order.
(2) A transfer of custodial property to a qualified minor's trust terminates the custodianship of that property to the extent of the transfer.
(3) Custodial property created under a testamentary instrument may not be transferred under this subsection unless the transfer is expressly authorized by the instrument.
(4) For an inter vivos transfer under this subsection to be valid, the instrument that created the custodial property shall contain in conspicuous type a statement that the transferor of the property elects to grant the custodian the authority to transfer all or part of the custodial property to a qualified minor's trust without a court order.
(c) Expenditure of custodial property.- 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's benefit so much of the custodial property as the court considers advisable for the use and benefit of the minor.
(d) Obligation to support not affected.- 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.
[1989, ch. 638; 2005, ch. 455.]
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