174                              Laws of Maryland                       [Ch. 137

minor or his ability to do so, and with or without regard to any other
income or property of the minor which may be applicable or available
for any such purpose.

(c)   The court, on the petition of a parent or guardian of the
minor or of the minor, if he has attained the age of fourteen years,
may order the custodian to pay over to the minor for expenditure by
him or to expend so much of or all the custodial property as is neces-
sary for the minor's support, maintenance or education.

(d)   To the extent that the custodial property is not so expended,
the custodian shall deliver or pay it over to the minor on his attaining
the age of twenty-one years or, if the minor dies before attaining the
age of twenty-one years, he shall thereupon deliver or pay it over to
the estate of the minor.

(e)  The custodian, notwithstanding statutes restricting invest-
ments by fiduciaries, shall invest and reinvest the custodial property
as would a prudent man of discretion and intelligence who is seeking
a reasonable income and the preservation of his capital, except that
he may, in his discretion and without liability to the minor or his
estate, retain a security given to the minor in a manner prescribed
in this sub-title.

(f)   The custodian may sell, exchange, convert or otherwise dispose
of custodial property in the manner, at the time or times, for the
price or prices and upon the terms he deems advisable. He may vote
in person or by general or limited proxy a security which is custodial
property. He may consent, directly or through a committee or other
agent, to the reorganization, consolidation, merger, dissolution or
liquidation of an issuer, a security of which is custodial property,
and to the sale, lease, pledge or mortgage of any property by or to
such an issuer, and to any other action by such an issuer. He may
execute and deliver any and all instruments in writing which he
deems advisable to carry out any of his powers as custodian.

(g)   The custodian shall register each security which is custo-
dial property and in registered form in the name of the custo-
dian, followed, in substance, by the words: "as custodian for
................................................under the Maryland Uniform Gifts to

(name of minor)

Minors Act". The custodian shall hold all money which is custodial
property in an account with a broker or in a bank in the name of the
custodian, followed, in substance, by the words: "as custodian for

................................................under the Maryland Uniform Gifts to

(name of minor)

Minors Act". The custodian shall keep all other custodial property
separate and distinct from his own property in a manner to identify
it clearly as custodial property.

(h) The custodian shall keep records of all transactions with
respect to the custodial property and make them available for in-
spection at reasonable intervals by a parent or legal representative
of the minor or by the minor, if he has attained the age of fourteen
years.

(i) A custodian has with respect to the custodial property, in
addition to the rights and powers provided in this sub-title, all the
rights and powers which a guardian has with respect to property not
held as custodial property.