565B.11 Validity and effect of transfer. 1. The validity of a transfer made in a manner prescribed in this chapter is not affected by: a. The failure of the transferor to comply with section 565B.9, subsection 3, concerning possession and control; b. The designation of an ineligible custodian, except designation of the transferor in the case of property for which the transferor is ineligible to serve as custodian under section565B.9, subsection 1; or c. The death or incapacity of a person nominated under section 565B.3 or designated under section 565B.9 as custodian or the disclaimer of the office by that person. 2. A transfer made pursuant to section 565B.9 is irrevocable, and the custodial property is indefeasibly vested in the minor, but the custodian has all the rights, powers, duties, andauthority provided in this chapter, and neither the minor nor the minor’s legal representativehas any right, power, duty, or authority with respect to the custodial property except asprovided in this chapter. 3. By making a transfer, the transferor incorporates in the disposition all the provisions of this chapter and grants to the custodian and to any third person dealing with a provided in this chapter. 3. By making a transfer, the transferor incorporates in the disposition all the provisions of this chapter and grants to the custodian and to any third person dealing with a persondesignated as custodian the respective powers, rights, and immunities provided in thischapter. 86 Acts, ch 1035, §11 Sat Dec 23 11:07:21 2023 Iowa Code 2024, Section 565B.11 (14, 0)
Iowa Legal Code