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35-5A-15
Section 35-5A-15 Delivery, payment, or expenditure of custodial property for benefit of minor.
(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...
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35-5A-2
Section 35-5A-2 Definitions. As used in this chapter, the following terms shall have the following
meanings, respectively, unless the context clearly indicates otherwise: (1) ADULT. An individual
who has attained the age of 21 years. (2) BENEFIT PLAN. An employer's plan for the benefit
of an employee or partner, or an individual retirement account. (3) BROKER. A person lawfully
engaged in the business of effecting transactions in securities or commodities for the person's
own account or for the account of others. (4) CONSERVATOR. A person appointed or qualified
by a court to act as general, limited, or temporary guardian of a minor's property or a person
legally authorized to perform substantially the same functions. (5) COURT. Circuit court.
(6) CUSTODIAL PROPERTY. a. Any interest in property transferred to a custodian under this
chapter and b. The income from and proceeds of that interest in property. (7) CUSTODIAN. A
person so designated under Section 35-5A-10 or a successor or...
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19-3B-816
Section 19-3B-816 Specific powers of trustee. (a) Without limiting the authority conferred
by Section 19-3B-815, a trustee may: (1) collect trust property and accept or reject additions
to the trust property from a settlor or any other person, including, but not being limited
to, the authority to receive, collect, hold, and retain common or preferred stock or other
interests in the trustee or any related party; (2) acquire or sell property, for cash or on
credit, at public or private sale; (3) exchange, partition, or otherwise change the character
of trust property; (4) deposit trust money in an account in a regulated financial-service
institution; (5) borrow money, with or without security, and mortgage or pledge trust property
for a period within or extending beyond the duration of the trust; (6) with respect to an
interest in a proprietorship, partnership, limited liability company, business trust, corporation,
or other form of business or enterprise, continue the business or other...
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35-5A-11
Section 35-5A-11 Transfer to be for one minor; only one custodian; single custodianship. A
transfer may be made only for one minor, and only one person may be the custodian. All custodial
property held under this chapter by the same custodian for the benefit of the same minor constitutes
a single custodianship. (Acts 1986, No. 86-453, p. 819, §10.)...
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35-5A-8
Section 35-5A-8 Transfer by obligor. (a) Subject to subsections (b) and (c), a person not subject
to Section 35-5A-6 or 35-5A-7 who holds property of or owes a liquidated debt to a minor not
having a conservator may make an irrevocable transfer to a custodian for the benefit of the
minor pursuant to Section 35-5A-10. (b) If a person having the right to do so under Section
35-5A-4 has nominated a custodian under that section to receive the custodial property, the
transfer must be made to that person. (c) If no custodian has been nominated under Section
35-5A-4, or all persons so nominated as custodian die before the transfer or are unable, decline,
or are ineligible to serve, a transfer under this section may be made to an adult member of
the minor's family or to a trust company unless the property exceeds fifty thousand dollars
($50,000) in value. (Acts 1986, No. 86-453, p. 819, §7; Act 2013-250, p. 624, §1.)...
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35-5A-6
Section 35-5A-6 Transfer by will or trust. (a) A personal representative or trustee may make
an irrevocable transfer pursuant to Section 35-5A-10 to a custodian for the benefit of a minor
as authorized in the governing will or trust. (b) If the testator or settlor has nominated
a custodian under Section 35-5A-4 to receive the custodial property, the transfer must be
made to that person. (c) If the testator or settlor has not nominated a custodian under Section
35-5A-4, or all persons so nominated as custodian dies before the transfer or are unable,
decline, or are ineligible to serve, the personal representative or the trustee, as the case
may be, shall designate the custodian from among those eligible to serve as custodian for
property of that kind under subsection (a) of Section 35-5A-10. (Acts 1986, No. 86-453, p.
819, §5.)...
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35-5A-20
Section 35-5A-20 Accounting by and determining of liability of custodian. (a) A minor who has
attained the age of 14 years, the minor's guardian of the person or legal representative,
an adult member of the minor's family, a transferor, or a transferor's legal representative
may petition the court (1) for an accounting by the custodian or the custodian's legal representative;
or (2) for a determination of responsibility, as between the custodial property and the custodian
personally, for claims against the custodial property unless the responsibility has been adjudicated
in an action under section 35-5A-18 to which the minor or the minor's legal representative
was a party. (b) A successor custodian may petition the court for an accounting by the predecessor
custodian. (c) The court, in a proceeding under this chapter or in any other proceeding, may
require or permit the custodian or the custodian's legal representative to account. (d) If
a custodian is removed under section...
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35-5A-19
Section 35-5A-19 Renunciation, resignation, death or removal of custodian; designation of successor
custodian. (a) A person nominated under section 35-5A-4 or designated under section 35-5A-10
as custodian may decline to serve by delivering a valid disclaimer to the person who made
the nomination or to the transferor or the transferor's legal representative or by effecting
a valid disclaimer in the manner that interests in property may be disclaimed under the Alabama
Uniform Disclaimer of Property Interests Act. If the event giving rise to a transfer has not
occurred and no substitute custodian able, willing, and eligible to serve was nominated under
section 35-5A-4, the person who made the nomination may nominate a substitute custodian under
section 35-5A-4; otherwise the transferor or the transferor's legal representative shall designate
a substitute custodian at the time of the transfer, in either case from among the persons
eligible to serve as custodian for that kind of property...
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26-2A-136
Section 26-2A-136 Permissible court orders. (a) The court shall exercise the authority conferred
in this division to encourage the development of maximum self-reliance and independence of
a protected person and make protective orders only to the extent necessitated by the protected
person's mental and adaptive limitations and other conditions warranting the procedure. (b)
The court has the following powers that may be exercised directly or through a conservator
in respect to the estate and business affairs of a protected person: (1) While a petition
for appointment of a conservator or other protective order is pending and after preliminary
hearing and without notice, the court may preserve and apply the property of the person to
be protected as may be required for the support of the person or dependents of the person.
(2) After hearing and upon determining that a basis for an appointment or other protective
order exists with respect to a minor without other disability, the court has...
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26-2A-78
Section 26-2A-78 Powers and duties of guardian of minor. (a) A guardian of a minor ward has
the powers and responsibilities of a parent regarding the ward's health, support, education,
or maintenance, but a guardian is not personally liable for the ward's expenses and is not
liable to third persons by reason of the relationship for acts of the ward. (b) In particular
and without qualifying the foregoing, a guardian shall: (1) Become or remain personally acquainted
with the ward and maintain sufficient contact with the ward to know of the ward's capacities,
limitations, needs, opportunities, and physical and mental health; (2) Take reasonable care
of the ward's personal effects and commence protective proceedings if necessary to protect
other property of the ward; (3) Apply any available money of the ward to the ward's current
needs for health, support, education, or maintenance; (4) Conserve any excess money of the
ward for the ward's future needs, but if a conservator has been...
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