By transferring property to a custodian for a minor under sections 404.005 to 404.094 , the transferor incorporates in the transfer all the provisions of sections 404.005 to 404.094 and grants to the custodian and third persons dealing with the custodian the respective powers, rights and immunities provided in sections 404.005 to 404.094 . By holding property for a minor as custodian under sections 404.005 to 404.094 , the custodian assumes the obligation to administer the custodial property for the minor as prescribed in sections 404.005 to 404.094 .
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