Illinois General Assembly - Illinois Compiled Statutes

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760 ILCS 20/15

(760 ILCS 20/15) (from Ch. 110 1/2, par. 265)

Sec. 15.

Use of Custodial Property.

(a) A custodian may deliver or
pay to the minor or expend
for the minor's benefit so much of the custodial property as the custodian
considers advisable for the use and benefit of the minor, without court
order and without regard to (i) the duty or ability of the custodian
personally or of any other person to support the minor, or (ii) any other
income or property of the minor which may be applicable or available for that
purpose.

(a-5) At any time, a custodian may transfer part or all of the custodial
property to
a qualified minor's trust without a court order.  Such a transfer terminates
the
custodianship to the extent of the transfer.

(b) On petition of an interested person or the minor if the minor has
attained the age of 14 years, the court may order the custodian to deliver
or pay to the minor or expend for the minor's benefit so much of the
custodial property as the court considers advisable for the use and benefit of
the minor.

(c) A delivery, payment, or expenditure under this Section is in
addition to, not in substitution for, and does not affect any obligation of
a person to support the minor.

(Source: P.A. 91-90, eff. 1-1-00.)