Guam § 12103 - Effect of Gift.
Full text of Guam Guam Code Annotated § 12103 — Effect of Gift., with citation guidance and answers to common questions.
§ 12103. Effect of Gift.
(a) A gift made in a manner prescribed in this Chapter is irrevocable
and conveys to the minor indefeasibly vested legal title to the security, life
insurance policy, annuity contract or money given, but no guardian of the
minor has any right, power, duty or authority with respect to the custodial
property except as provided in this Chapter.
(b) By making a gift in a manner prescribed in this Chapter, the donor
incorporates in his gift all the provisions of this Chapter and grants to the
custodian, and to any issuer, transfer agent, bank, financial institution, life
insurance company, broker or third person dealing with a person designated
as custodian, the respective powers, rights and immunities provided in this
Chapter.
Frequently Asked Questions About Guam § 12103
What does Guam Code Annotated § 12103 cover?
Section 12103 ("Effect of Gift.") is part of the Guam Code Annotated, the codified statutory law of Guam. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Guam § 12103?
A common citation format is "Guam Code Annotated § 12103" (Guam). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Guam law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Guam official source linked on this page or consult a licensed Guam attorney.
How does Guam § 12103 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Guam can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Guam.