560                               LAWS OF MARYLAND                        [CH. 235

(6) If the gift is preceded by a gift in trust to some other person
or persons, by stating in the will or living trust instrument that it
is made under the Maryland Uniform Gifts to Minors Act. Unless
the custodian, who shall be an adult, a guardian of the minor or a
trust company, is designated in the will or living trust instrument,
the trustee shall, subject to any limitations contained within the will
or living trust instrument, have the power to name as custodian an
adult, a guardian of the minor or a trust company and shall dis-
tribute the subject of the gift by transferring it in the manner and
form provided in the preceding paragraphs of this subsection.

(b)    Any gift made in a manner prescribed in subsection (a)
may be made to only one minor and only one person may be the
custodian.

(c)    A donor who makes a gift to a minor in a manner pre-
scribed in subsection (a) shall promptly do all things within his
power to put the subject of the gift in the possession and control of
the custodian, but neither the donor's failure to comply with this
subsection, nor his designation of an ineligible person as custodian
nor renunciation by the person designated as custodian affects the
consummation of the gift.

215.    Effect of gift.

(a)    A gift made in a manner prescribed in this subtitle is ir-
revocable and conveys to the minor indefeasibly vested legal title to
the security, life insurance policy, annuity contract, or money given,
but no guardian of the minor has any right, power, duty or authority
with respect to the custodial property except as provided in this
subtitle.

(b)    By making a gift in a manner prescribed in this subtitle, the
donor incorporates in his gift, living trust instrument or will all the
provisions of this subtitle and grants to the custodian, and to any
issuer, transfer agent, [bank,] financial institution, life insurance
company, broker or third person dealing with a person designated
as custodian, the respective powers, rights and immunities provided
in this subtitle.

216.    Duties and powers of custodian.

(a)    The custodian shall collect, hold, manage, invest and rein-
vest the custodial property.

(b)    The custodian shall pay over to the minor for expenditure
by him, or expend for the minor's benefit, so much of or all the
custodial property as the custodian deems advisable for the support,
maintenance, education and benefit of the minor in the manner, at
the time or times, and to the extent that the custodian in his discre-
tion deems suitable and proper, with or without court order, with or
without regard to the duty of himself or of any other person to
support the minor or his ability to do so, and with or without regard
to any other income or property of the minor which may be appli-
cable 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
necessary for the minor's support, maintenance or education.