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H0144aa............................................................by BUSINESS
CUSTODIANSHIP - MINORS - Amends existing law relating to the Uniform Gift to
Minors Act to increase the age of an adult from twenty-one years to
twenty-five years; and to provide that termination of custodianship occurs at
age twenty-five years.
02/04 House intro - 1st rdg - to printing
02/05 Rpt prt - to Bus
03/10 Rpt out - to Gen Ord
03/13 Rpt out amen - to engros
03/14 Rpt engros - 1st rdg - to 2nd rdg as amen
03/17 2nd rdg - to 3rd rdg as amen
03/21 3rd rdg as amen- PASSED - 52-14-4
AYES -- Andersen, Barraclough, Barrett, Bauer, Bedke, Bell, Black,
Block, Bolz, Bradford, Cannon, Clark, Collins, Crow, Deal, Denney,
Douglas, Ellsworth, Field(18), Field(23), Gagner, Garrett, Harwood,
Jones, Kellogg, Kulczyk, Lake, Langford, Martinez, McGeachin, McKague,
Meyer, Miller, Moyle, Nielsen, Raybould, Ridinger, Ring, Roberts,
Robison, Rydalch, Sali, Schaefer, Shepherd, Shirley, Skippen, Smith(30),
Smylie, Stevenson, Tilman, Wills, Wood
NAYS -- Bieter, Boe, Cuddy, Eberle, Edmunson, Henbest, Jaquet,
Langhorst, Mitchell, Naccarato, Ringo, Sayler, Snodgrass, Trail
Absent and excused -- Campbell, Eskridge, Smith(24), Mr. Speaker
Floor Sponsor - Clark
Title apvd - to Senate
03/24 Senate intro - 1st rdg - to Com/HuRes
03/28 Rpt out - rec d/p - to 2nd rdg
03/31 2nd rdg - to 3rd rdg
04/02 3rd rdg - FAILED - 14-18-3
AYES -- Andreason, Bailey, Brandt, Bunderson, Cameron, Compton, Gannon,
Goedde, Hill, Little, Lodge, Schroeder, Sorensen, Sweet
NAYS -- Burkett, Burtenshaw, Calabretta, Darrington, Ingram, Kennedy,
Keough, Malepeai, Marley, McKenzie, McWilliams, Noble, Noh, Pearce,
Richardson, Stennett, Werk, Williams
Absent and excused -- Davis, Geddes, Stegner
Floor Sponsor - Goedde
Filed w/Office of the Chief Clerk
|||| LEGISLATURE OF THE STATE OF IDAHO ||||
Fifty-seventh Legislature First Regular Session - 2003
IN THE HOUSE OF REPRESENTATIVES
HOUSE BILL NO. 144
BY BUSINESS COMMITTEE
1 AN ACT
2 RELATING TO THE UNIFORM GIFT TO MINORS ACT; AMENDING SECTION 68-801, IDAHO
3 CODE, TO FURTHER DEFINE TERMS; AMENDING SECTION 68-820, IDAHO CODE, TO
4 PROVIDE THAT TERMINATION OF CUSTODIANSHIP OCCURS AT AGE TWENTY-FIVE; AND
5 AMENDING SECTION 68-822, IDAHO CODE, TO GOVERN THE EFFECT OF THIS ACT UPON
6 EXISTING CUSTODIANSHIPS.
7 Be It Enacted by the Legislature of the State of Idaho:
8 SECTION 1. That Section 68-801, Idaho Code, be, and the same is hereby
9 amended to read as follows:
10 68-801. DEFINITIONS. As used in this chapter:
11 (1) "Adult" means an individual who has attained the age of twenty-one
12 five (215) years.
13 (2) "Benefit plan" means an employer's plan for the benefit of an
14 employee or partner.
15 (3) "Broker" means a person lawfully engaged in the business of effecting
16 transactions in securities or commodities for the person's own account or for
17 the account of others.
18 (4) "Conservator" means a person appointed or qualified by a court to act
19 as general, limited, or temporary guardian of a minor's property or a person
20 legally authorized to perform substantially the same functions.
21 (5) "Court" means the district courts of the state of Idaho.
22 (6) "Custodial property" means (i) any interest in property transferred
23 to a custodian under this chapter and (ii) the income from and proceeds of
24 that interest in property.
25 (7) "Custodian" means a person so designated under section 68-809, Idaho
26 Code, or a successor or substitute custodian designated under section 68-818,
27 Idaho Code.
28 (8) "Financial institution" means a bank, trust company, savings and loan
29 association, or credit union, chartered and supervised under state or federal
30 law.
31 (9) "Legal representative" means an individual's personal representative
32 or conservator.
33 (10) "Member of the minor's family" means the minor's parent, stepparent,
34 spouse, grandparent, brother, sister, uncle, or aunt, whether of the whole or
35 half blood or by adoption.
36 (11) "Minor" means an individual who has not attained the age of
37 twenty-onefive (215) years.
38 (12) "Person" means an individual, corporation, organization, or other
39 legal entity.
40 (13) "Personal representative" means an executor, administrator, successor
41 personal representative, or special administrator of a decedent's estate or a
42 person legally authorized to perform substantially the same functions.
43 (14) "State" includes any state of the United States, the District of
2
1 Columbia, the Commonwealth of Puerto Rico, and any territory or possession
2 subject to the legislative authority of the United States.
3 (15) "Transfer" means a transaction that creates custodial property under
4 section 68-809, Idaho Code.
5 (16) "Transferor" means a person who makes a transfer under this chapter.
6 (17) "Trust company" means a financial institution, corporation, or other
7 legal entity, authorized to exercise general trust powers.
8 SECTION 2. That Section 68-820, Idaho Code, be, and the same is hereby
9 amended to read as follows:
10 68-820. TERMINATION OF CUSTODIANSHIP. The custodian shall transfer in an
11 appropriate manner the custodial property to the minor or to the minor's
12 estate upon the earlier of:
13 (1) The minor's attainment of twenty-onefive (215) years of age with
14 respect to custodial property transferred under section 68-804 or section
15 68-805, Idaho Code;
16 (2) The minor's attainment of eighteen twenty-five (1825) years of age,
17 with respect to custodial property transferred under section 68-806 or section
18 68-807, Idaho Code;
19 (3) The minor's death.
20 SECTION 3. That Section 68-822, Idaho Code, be, and the same is hereby
21 amended to read as follows:
22 68-822. EFFECT ON EXISTING CUSTODIANSHIPS. (1) Any transfer of custodial
23 property as now defined in this chapter made before July 1, 1984, is vali-
24 dated, notwithstanding that there was no specific authority in the Uniform
25 Gifts to Minors Act of Idaho, for the coverage of custodial property of that
26 kind or for a transfer from that source at the time the transfer was made.
27 (2) The provisions of this chapter apply to all transfers made before the
28 effective date of this chapter, in a manner and form prescribed in the Uniform
29 Gifts to Minors Act of Idaho, except insofar as the application impairs con-
30 stitutionally vested rights or extends the duration of custodianships in exis-
31 tence on the effective date of this chapter.
32 (3) Sections 68-801 and 68-820, Idaho Code, with respect to the age of a
33 minor for whom custodial property is held under this chapter, do not apply to
34 custodial property held in a custodianship that terminated because of the
35 minor's attainment of the age of eighteen (18) years after July 1, 1972 and
36 before July 1, 1984.
37 (4) The provisions of this chapter with respect to the age of a minor for
38 whom custodial property is held under this chapter, do not apply to custodial
39 property held in a custodianship that terminated because of the minor's
40 attainment of the age of eighteen (18) years or twenty-one (21) years after
41 July 1, 1984 and before July 1, 2003.
|||| LEGISLATURE OF THE STATE OF IDAHO ||||
Fifty-seventh Legislature First Regular Session - 2003
Moved by Clark
Seconded by Smith (30)
IN THE HOUSE OF REPRESENTATIVES
HOUSE AMENDMENTS TO H.B. NO. 144
1 AMENDMENTS TO SECTION 2
2 On page 2 of the printed bill, in line 13, following "twenty-" delete
3 "onefive" and insert: "one"; also in line 13, delete "15" and insert: "1"; and
4 also in line 13, following "age" insert: ", or up to twenty-five (25) years of
5 age at the custodian's discretion,"; in line 14, following "68-804", delete
6 "or" and insert: "or, Idaho Code, or twenty-one (21) years of age with respect
7 to"; in line 16, delete "eighteen twenty-five" and insert: "eighteen"; and
8 also in line 16, delete "1825" and insert: "18".
9 AMENDMENT TO SECTION 3
10 On page 2, in line 40, delete "eighteen (18) years or".
11 AMENDMENT TO THE BILL
12 On page 1, delete lines 8 through 43, and on page 2, delete lines 1
13 through 7, and renumber subsequent sections accordingly.
14 CORRECTIONS TO TITLE
15 On page 1, in line 2, delete "AMENDING SECTION 68-801, IDAHO" and in line
16 3, delete "CODE, TO FURTHER DEFINE TERMS;"; in line 4, following "OF" insert:
17 "CERTAIN"; and also in line 4, following "OCCURS" insert: ", AT THE
18 CUSTODIAN'S DISCRETION,".
|||| LEGISLATURE OF THE STATE OF IDAHO ||||
Fifty-seventh Legislature First Regular Session - 2003
IN THE HOUSE OF REPRESENTATIVES
HOUSE BILL NO. 144, As Amended
BY BUSINESS COMMITTEE
1 AN ACT
2 RELATING TO THE UNIFORM GIFT TO MINORS ACT; AMENDING SECTION 68-820, IDAHO
3 CODE, TO PROVIDE THAT TERMINATION OF CERTAIN CUSTODIANSHIP OCCURS, AT THE
4 CUSTODIAN'S DISCRETION, AT AGE TWENTY-FIVE; AND AMENDING SECTION 68-822,
5 IDAHO CODE, TO GOVERN THE EFFECT OF THIS ACT UPON EXISTING CUSTODIANSHIPS.
6 Be It Enacted by the Legislature of the State of Idaho:
7 SECTION 1. That Section 68-820, Idaho Code, be, and the same is hereby
8 amended to read as follows:
9 68-820. TERMINATION OF CUSTODIANSHIP. The custodian shall transfer in an
10 appropriate manner the custodial property to the minor or to the minor's
11 estate upon the earlier of:
12 (1) The minor's attainment of twenty-one (21) years of age, or up to
13 twenty-five (25) years of age at the custodian's discretion, with respect to
14 custodial property transferred under section 68-804 or, Idaho Code, or twenty-
15 one (21) years of age with respect to section 68-805, Idaho Code;
16 (2) The minor's attainment of eighteen (18) years of age, with respect to
17 custodial property transferred under section 68-806 or section 68-807, Idaho
18 Code;
19 (3) The minor's death.
20 SECTION 2. That Section 68-822, Idaho Code, be, and the same is hereby
21 amended to read as follows:
22 68-822. EFFECT ON EXISTING CUSTODIANSHIPS. (1) Any transfer of custodial
23 property as now defined in this chapter made before July 1, 1984, is vali-
24 dated, notwithstanding that there was no specific authority in the Uniform
25 Gifts to Minors Act of Idaho, for the coverage of custodial property of that
26 kind or for a transfer from that source at the time the transfer was made.
27 (2) The provisions of this chapter apply to all transfers made before the
28 effective date of this chapter, in a manner and form prescribed in the Uniform
29 Gifts to Minors Act of Idaho, except insofar as the application impairs con-
30 stitutionally vested rights or extends the duration of custodianships in exis-
31 tence on the effective date of this chapter.
32 (3) Sections 68-801 and 68-820, Idaho Code, with respect to the age of a
33 minor for whom custodial property is held under this chapter, do not apply to
34 custodial property held in a custodianship that terminated because of the
35 minor's attainment of the age of eighteen (18) years after July 1, 1972 and
36 before July 1, 1984.
37 (4) The provisions of this chapter with respect to the age of a minor for
38 whom custodial property is held under this chapter, do not apply to custodial
39 property held in a custodianship that terminated because of the minor's
40 attainment of the age of twenty-one (21) years after July 1, 1984 and before
41 July 1, 2003.
STATEMENT OF PURPOSE
RS 12632
This legislation will amend Idaho Code 68-801, 68-820, and
68-822, relating to the Uniform Gift to Minors Act. This
legislation will provide that termination of custodianship occurs
at the age of twenty-five.
FISCAL IMPACT
No impact on the General Fund.
Contact
Name: Jim Clark
Phone: 332-1000
STATEMENT OF PURPOSE/FISCAL NOTE H 144