Louisiana Revised Statutes 9:763 – Powers of custodian
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Terms Used In Louisiana Revised Statutes 9:763
- Adult: means an individual who has attained the age of twenty-two years. See Louisiana Revised Statutes 9:751
- Custodial property: means any interest in property transferred to a custodian under this Subpart and the income from and proceeds of that interest in property. See Louisiana Revised Statutes 9:751
- Custodian: means a person so designated under La. See Louisiana Revised Statutes 9:751
A. A custodian, acting in a custodial capacity, has all the rights, powers, and authority over custodial property that unmarried adult owners have over their own property, but a custodian may exercise those rights, powers, and authority in that capacity only.
B. This Section does not relieve a custodian from liability for breach of the provisions of La. Rev. Stat. 9:762.
Acts 1987, No. 469, §1, eff. Jan. 1, l988.