2003 Legislation
Print Friendly

HOUSE BILL NO. 144 – Custodianship, minors under 25

HOUSE BILL NO. 144

View Daily Data Tracking History

View Bill Text

View Amendment

View Engrossed Bill (Original Bill with Amendment(s) Incorporated)

View Statement of Purpose / Fiscal Impact



Text to be added within a bill has been marked with Bold and
Underline. Text to be removed has been marked with
Strikethrough and Italic. How these codes are actually displayed will
vary based on the browser software you are using.

This sentence is marked with bold and underline to show added text.

This sentence is marked with strikethrough and italic, indicating
text to be removed.

Daily Data Tracking History



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

Bill Text


                                                                        
                                                                        
  ||||              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.

Amendment


                                                                        
                                                                        
  ||||              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,".

Engrossed Bill (Original Bill with Amendment(s) Incorporated)


                                                                        
                                                                        
  ||||              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 / Fiscal Impact



                       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