O.C.G.A.

O.C.G.A. § 44-5-112 (2019)

Applicability of article

✓ O.C.G.A. — 2019 edition (Public.Resource.Org Release 73)
Code text and O.C.G.A. statutory annotations on this page reflect the 2019 Official Code of Georgia Annotated (Public.Resource.Org Release 73, 2019-08-21; public domain per Georgia v. Public.Resource.Org, 2020). The Syfert case-law annotations in Notes of Decisions, below, are current.
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(a) This article applies to a transfer that refers to ‘‘The Georgia Transfers to Minors Act’’ in the designation under subsection (a) of Code Section 44-5-119 by which the transfer is made if at the time of the transfer the transferor, the minor, or the custodian is a resident of this state or the custodial property is located in this state. The custodianship so created remains subject to this article despite a subsequent change in residence of a transferor, the minor, or the custodian or the removal of custodial property from this state. (b) A person designated as custodian under the authority of this article is subject to personal jurisdiction in this state with respect to any matter relating to the custodianship. (c) A transfer that purports to be made and which is valid under the Uniform Transfers to Minors Act, the Uniform Gifts to Minors Act, or a substantially similar act of another state is governed by the law of the designated state and may be executed and is enforceable in this state if, at the time of the transfer, the transferor, the minor, or the custodian is a resident of the designated state or the custodial property is located in the designated state.

History

(Code 1981, § 44-5-112, enacted by Ga. L. 1990, p. 667, § 1.)

Annotations

RESEARCH REFERENCES U.L.A. - Uniform Transfers to Minors Act (U.L.A.) § 2. ALR. - Gift of savings deposit by delivery of passbook, 40 ALR 1249; 84 ALR 558. Delivery as essential to gift of tangible chattels or securities by written instrument, 63 ALR 537; 48 ALR2d 1405.

Delivery which will support gift of an undivided interest in a chattel or chose in action, 145 ALR 1386. Opening savings account in sole name of another, without complete surrender of passbook, as a gift, 1 ALR2d 538.