A. A custodial trustee, acting in a fiduciary capacity, has all the rights and powers over custodial trust property that an unmarried adult owner has over individually owned property, which shall include but not be limited to those powers set forth in § 64.2-105 as of the date the custodian acts, but a custodial trustee may exercise those rights and powers in a fiduciary capacity only.

B. This section does not relieve a custodial trustee from liability for a violation of § 64.2-906.

History

1990, c. 264, § 55-34.8; 2012, c. 614.