Louisiana Revised Statutes 9:752 – Scope
Terms Used In Louisiana Revised Statutes 9:752
- 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
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- Minor: means an individual who has not attained the age of twenty-two years. See Louisiana Revised Statutes 9:751
- Person: means an individual, corporation, organization, or other legal entity. See Louisiana Revised Statutes 9:751
- 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 Louisiana Revised Statutes 9:751
- Transfer: means a transaction that creates custodial property under La. See Louisiana Revised Statutes 9:751
- Transferor: means a person who makes a transfer under this Subpart. See Louisiana Revised Statutes 9:751
A. This Subpart applies to a transfer that refers to this Subpart in the designation under La. Rev. Stat. 9:759(A) by which the transfer is made if at the time of the transfer, the transferor, the minor, or the custodian is a resident of this state or the custodial property is located in this state. The custodianship so created remains subject to this Subpart despite a subsequent change in residence of a transferor, the minor, or the custodian, or the removal of custodial property from this state.
B. A person designated as custodian is subject to personal jurisdiction in this state with respect to any matter relating to the custodianship.
C. A transfer that purports to be made and which is valid under the Uniform Transfers to Minors Act, the Uniform Gifts to Minors Act, or a substantially similar act, of another state is governed by the law of the designated state and may be executed and is enforceable in this state if at the time of the transfer, the transferor, the minor, or the custodian is a resident of the designated state or the custodial property is located in the designated state.
Acts 1987, No. 469, §1, eff. Jan. 1, 1988.