§ 35-5A-1 Short title
§ 35-5A-2 Definitions
§ 35-5A-3 Transfers and custodians to which chapter applicable; personal jurisdiction over custodian; transfers made under law of another state
§ 35-5A-4 Nomination of custodian
§ 35-5A-5 Transfer by gift or exercise of power of appointment
§ 35-5A-6 Transfer by will or trust
§ 35-5A-7 Other transfer by fiduciary
§ 35-5A-8 Transfer by obligor
§ 35-5A-9 Receipt and discharge for transfer of custodial property
§ 35-5A-10 Manner of creating custodial property and effecting transfer; form of transfer; control of custodial property
§ 35-5A-11 Transfer to be for one minor; only one custodian; single custodianship
§ 35-5A-12 Validity of transfer; interest conveyed; rights of custodian and minor as to property transferred; provisions of chapter incorporated in transfer; transfer does not authorize settlement or release of claims
§ 35-5A-13 Powers and duties of custodian as to custodial property generally
§ 35-5A-14 Custodian has rights and powers that unmarried adult would have as to property
§ 35-5A-15 Delivery, payment, or expenditure of custodial property for benefit of minor
§ 35-5A-16 Custodian’s expenses, compensation, and bond
§ 35-5A-17 Exemption of third person from liability for good faith dealings with custodian
§ 35-5A-18 Claims against custodial property; personal liability of custodian and minor
§ 35-5A-19 Renunciation, resignation, death or removal of custodian; designation of successor custodian
§ 35-5A-20 Accounting by and determining of liability of custodian
§ 35-5A-21 Termination of custodianship upon minor’s reaching age 21 or age of majority or upon minor’s death
§ 35-5A-22 Applicability of chapter
§ 35-5A-23 Transfers made before and custodianships existing on October 1, 1986; property held in custodianship which terminated between July 22, 1975, and October 1, 1986, when minor attained age 19
§ 35-5A-24 Uniformity of application and construction

Terms Used In Alabama Code > Title 35 > Chapter 5A

  • adult: An individual who has attained the age of 21 years. See Alabama Code 35-5A-2
  • Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
  • BENEFIT PLAN: An employer's plan for the benefit of an employee or partner, or an individual retirement account. See Alabama Code 35-5A-2
  • blind person: means a natural person who has no vision or whose vision with correcting glasses is so defective as to prevent the performance of ordinary activities for which eyesight is essential, or who has central visual acuity of 20/200 or less in the better eye with correcting glasses, or whose central visual acuity is more than 20/200 in the better eye with correcting glasses but whose peripheral field has contracted to such an extent that the widest diameter of the visual field subtends an angular distance no greater than 20 degrees. See Alabama Code 1-1-3
  • BLIND PERSONS: Any person defined as a blind person by Section 1-1-3. See Alabama Code 21-1-40
  • broker: A person lawfully engaged in the business of effecting transactions in securities or commodities for the person's own account or for the account of others. See Alabama Code 35-5A-2
  • conservator: A person appointed or qualified by a court to act as general, limited, or temporary guardian of a minor's property or a person legally authorized to perform substantially the same functions. See Alabama Code 35-5A-2
  • court: Circuit court. See Alabama Code 35-5A-2
  • custodian: A person so designated under Section 35-5A-10 or a successor or substitute custodian designated under Section 35-5A-19. See Alabama Code 35-5A-2
  • Decedent: A deceased person.
  • Deed: The legal instrument used to transfer title in real property from one person to another.
  • Executor: A male person named in a will to carry out the decedent
  • FINANCIAL INSTITUTION: A bank, trust company, savings institution, or credit union, chartered and supervised under state or federal law. See Alabama Code 35-5A-2
  • Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
  • Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
  • Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
  • LEGAL REPRESENTATIVE: An individual's personal representative or conservator. See Alabama Code 35-5A-2
  • minor: An individual who has not attained the age of 21 years. See Alabama Code 35-5A-2
  • person: An individual, corporation, organization, or other legal entity. See Alabama Code 35-5A-2
  • personal property: includes money, goods, chattels, things in action and evidence of debt, deeds and conveyances. See Alabama Code 1-1-1
  • PERSONAL REPRESENTATIVE: An executor, administrator, successor personal representative, or special administrator of a decedent's estate or a person legally authorized to perform substantially the same functions. See Alabama Code 35-5A-2
  • Probate: Proving a will
  • Prosecute: To charge someone with a crime. A prosecutor tries a criminal case on behalf of the government.
  • state: Includes any state of the United States, the District of Columbia, the Commonwealth of Puerto Rico, and any territory or possession subject to the legislative authority of the United States. See Alabama Code 35-5A-2
  • Testator: A male person who leaves a will at death.
  • Tort: A civil wrong or breach of a duty to another person, as outlined by law. A very common tort is negligent operation of a motor vehicle that results in property damage and personal injury in an automobile accident.
  • transfer: A transaction that creates custodial property under Section 35-5A-10. See Alabama Code 35-5A-2
  • transferor: A person who makes a transfer under this chapter. See Alabama Code 35-5A-2
  • TRUST COMPANY: A financial institution, corporation, or other legal entity, authorized to exercise general trust powers. See Alabama Code 35-5A-2
  • Trustee: A person or institution holding and administering property in trust.
  • VENDING STAND: Such shelters, counters, shelves, display and wall cases, refrigerator apparatus, and other auxiliary equipment that may be needed in vending such articles as may be approved by the licensing agency, as well as manual or coin operated vending machines or similar devices. See Alabama Code 21-1-40