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§58-1223.
§58-1223.
A. Any transfer of custodial property as that term is defined in the
Oklahoma Uniform Transfers to Minors Act made before the effective
date of this act is validated although there was no specific authority
in the Oklahoma Uniform Gifts to Minors Act for the coverage of
custodial property of that kind or for a transfer from that source at
the time the transfer was made.
B. The Oklahoma Uniform Transfers to Minors Act applies to all
transfers made before the effective date of this act in a manner and
form prescribed in the Oklahoma Uniform Gifts to Minors Act, except
insofar as the application impairs constitutionally vested rights or
extends the duration of custodianships in existence on the effective
date of this act.
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.
D. With respect to the age of a minor for whom custodial property is
held under the Oklahoma Uniform Transfers to Minors Act, paragraphs 1
and 11 of Section 1202 and paragraph 1 of subsection A of Section 1221
of this title do not apply to custodial property held in a
custodianship which terminated because of the minor's attainment of
the age of eighteen (18) years after November 1, 1986 and before
September 1, 1993.
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