1. The repeal of the Missouri uniform gifts to minors law, sections 404.010 to 404.100, shall not affect transfers made in a manner prescribed in sections 404.010 to 404.100, nor the powers, duties and immunities conferred by transfers in that manner upon custodians and persons dealing with custodians. The provisions of sections 404.005 to 404.094 henceforth apply to all transfers made in a manner and form prescribed in the Missouri uniform gifts to minors law, except insofar as the application impairs constitutionally vested rights or extends the duration of custodianships in existence on September 28, 1985. In all other respects, sections 404.005 to 404.094 shall be construed as a continuation of the provisions of the Missouri uniform gifts to minors law.

2. Any transfer of property to a custodian or successor custodian after September 28, 1985, which uses in substance the words “as custodian under the Missouri uniform gifts to minors law” shall be construed to mean “as custodian under the Missouri transfers to minors law” and sections 404.005 to 404.094 shall apply thereto.