[§554B-8]  General powers of custodial trustee.  (a)  A custodial trustee, acting in a fiduciary capacity, has all the rights, powers, and authority over custodial trust property that an unmarried adult owner has over individually owned property, but a custodial trustee may exercise those rights, powers, and authority in a fiduciary capacity only.

     (b)  This section does not relieve a custodial trustee from liability for breach of section 554B-7. [L 1989, c 76, pt of §1]