(a) This chapter applies to a registration, transfer, or declaration that refers to this chapter as provided in section 554B-2 if, at the time of the registration, transfer, or declaration, the transferor, beneficiary, or custodial trustee is a resident of this State or the custodial trust property is located in this State. The custodial trust remains subject to this chapter despite a subsequent change in residence of the transferor, beneficiary, or custodial trustee, or removal of the custodial trust property from this State.
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Terms Used In Hawaii Revised Statutes 554B-19

  • 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
  • Beneficiary: means an individual for whom property has been delivered to a custodial trustee for the individual's use and benefit under this chapter. See Hawaii Revised Statutes 554B-1
  • Custodial trust property: means an interest in property transferred to a custodial trustee under this chapter and the income from and proceeds of that interest. See Hawaii Revised Statutes 554B-1
  • Custodial trustee: means a person designated as trustee of a custodial trust under this chapter and includes a substitute or successor custodial trustee. See Hawaii Revised Statutes 554B-1
  • State: means a state, commonwealth, territory, or possession of the United States, or the District of Columbia. See Hawaii Revised Statutes 554B-1
  • Transferor: means a person who creates a custodial trust by transfer or declaration. See Hawaii Revised Statutes 554B-1
  • Trustee: A person or institution holding and administering property in trust.
(b) A transfer made under a substantially similar act of another state is governed by the law of that state and may be executed or enforced in this State.

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