Section 7-6.23. Applicability

This  part  applies to a transfer within the scope of 7-6.2 made on or
  after January first, nineteen hundred ninety-seven if:
    (a) the transfer purports to have been made under the New York Uniform
  Gifts to Minor Act; or
    (b) the instrument by which the transfer purports to  have  been  made
  uses  in substance the designation "as custodian under the Uniform Gifts
  to Minors Act" or "as custodian under the Uniform  Transfers  to  Minors
  Act"  of any other state,  and the application of this part is necessary
  to validate the transfer.