Ch. 638                                       LAWS OF MARYLAND

(3) CUSTODIAL PROPERTY SUBJECT TO RECORDATION IS SO
IDENTIFIED IF IT IS RECORDED, AND CUSTODIAL PROPERTY SUBJECT TO
REGISTRATION IS SO IDENTIFIED IF IT IS EITHER REGISTERED, OR HELD
IN AN ACCOUNT DESIGNATED, IN THE NAME OF THE CUSTODIAN, FOLLOWED

IN SUBSTANCE BY THE WORDS: "AS A CUSTODIAN FOR _______ (NAME OF

MINOR) UNDER THE MARYLAND UNIFORM TRANSFERS TO MINORS ACT".

(E) A CUSTODIAN SHALL KEEP RECORDS OF ALL TRANSACTIONS WITH
RESPECT TO CUSTODIAL PROPERTY, INCLUDING INFORMATION NECESSARY
FOR THE PREPARATION OF THE MINOR'S TAX RETURNS, AND SHALL MAKE
THEM AVAILABLE FOR INSPECTION AT REASONABLE INTERVALS BY A PARENT
OR LEGAL REPRESENTATIVE OF THE MINOR OR BY THE MINOR IF THE MINOR
HAS ATTAINED THE AGE OF 14 YEARS.

13-313.

(A)  A CUSTODIAN, ACTING IN A CUSTODIAL CAPACITY, HAS ALL
THE RIGHTS, POWERS, AND AUTHORITY OVER CUSTODIAL PROPERTY THAT
UNMARRIED ADULT OWNERS HAVE OVER THEIR OWN PROPERTY, BUT A
CUSTODIAN MAY EXERCISE THOSE RIGHTS, POWERS, AND AUTHORITY IN
THAT CAPACITY ONLY.

(B)  THIS SECTION DOES NOT RELIEVE A CUSTODIAN FROM
LIABILITY FOR BREACH OF § 13-312 OF THIS SUBTITLE.

13-314.

(A)  A CUSTODIAN MAY DELIVER OR PAY TO THE MINOR OR EXPEND
FOR THE MINOR'S BENEFIT SO MUCH OF THE CUSTODIAL PROPERTY AS THE
CUSTODIAN CONSIDERS ADVISABLE FOR THE USE AND BENEFIT OF THE
MINOR, WITHOUT COURT ORDER AND WITHOUT REGARD TO:

(1)  THE DUTY OR ABILITY OF THE CUSTODIAN PERSONALLY
OR OF ANY OTHER PERSON TO SUPPORT THE MINOR; OR

(2)  ANY OTHER INCOME OR PROPERTY OF THE MINOR WHICH
MAY BE APPLICABLE OR AVAILABLE FOR THAT PURPOSE.

(B)  ON PETITION OF AN INTERESTED PERSON OR THE MINOR IF THE
MINOR HAS ATTAINED THE AGE OF 14 YEARS, THE COURT MAY ORDER THE
CUSTODIAN TO DELIVER OR PAY TO THE MINOR OR EXPEND FOR THE
MINOR'S BENEFIT SO MUCH OF THE CUSTODIAL PROPERTY AS THE COURT
CONSIDERS ADVISABLE FOR THE USE AND BENEFIT OF THE MINOR.

(C)  A DELIVERY, PAYMENT, OR EXPENDITURE UNDER THIS SECTION
IS IN ADDITION TO, NOT IN SUBSTITUTION FOR, AND DOES NOT AFFECT
ANY OBLIGATION OF A PERSON TO SUPPORT THE MINOR.

13-315.

(A) A CUSTODIAN IS ENTITLED TO REIMBURSEMENT FROM CUSTODIAL
PROPERTY FOR REASONABLE EXPENSES INCURRED IN THE PERFORMANCE OF
THE CUSTODIAN'S DUTIES.

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