§ 7-6.22 Effect on existing custodianships

(a) Any transfer of custodial property made before January first,
nineteen hundred ninety-seven is validated notwithstanding that there
was no specific authority in part 4 of this article for the coverage of
custodial property of that kind or for a transfer from that source at
the time the transfer was made.

(b) All accounts established under part 4 of this article and in
existence on January first, nineteen hundred ninety-seven shall be
governed by the provisions of this part except insofar as such
application impairs constitutionally vested rights. Notwithstanding the
provisions of this paragraph, the age of termination in effect prior to
January first, nineteen hundred ninety-seven shall remain in effect with
respect to such accounts, including any additions made after December
thirty-first, nineteen hundred ninety-six.

(c) To the extent that this part, by virtue of paragraph (b) of this
section, does not apply to transfers made in a manner prescribed in part
4 of this article or to the powers, duties, and immunities conferred by
transfers in that manner upon custodians and persons dealing with
custodians, the repeal of part 4 of this article shall not affect those
transfers or those powers, duties, and immunities.