72-26-601. Nomination of custodian. (1) A person having the right to designate the recipient of property transferable upon the occurrence of a future event may revocably nominate a custodian to receive the property for a minor beneficiary upon the occurrence of the event by naming the custodian, followed in substance by the words: “as custodian for […]
72-26-602. Single custodianship. A transfer may be made only for one minor, and only one person may be the custodian. All custodial property held under this chapter by the same custodian for the benefit of the same minor constitutes a single custodianship. History: En. Sec. 12, Ch. 102, L. 1985.
72-26-603. Manner of creating custodial property and effecting transfer — designation of initial custodian — control. (1) Custodial property is created and a transfer is made whenever: (a) an uncertificated security or a certificated security in registered form is either: (i) registered in the name of the transferor, an adult other than the transferor, or a trust company, […]
72-26-604. Transfer by gift or exercise of power of appointment. A person may make a transfer by irrevocable gift to or the irrevocable exercise of a power of appointment in favor of a custodian for the benefit of a minor pursuant to 72-26-603. History: En. Sec. 6, Ch. 102, L. 1985.
72-26-605. Transfer authorized by will or trust. (1) A personal representative or trustee may make an irrevocable transfer pursuant to 72-26-603 to a custodian for the benefit of a minor as authorized in the governing will or trust. (2) If the testator or settlor has nominated a custodian under 72-26-601 to receive the custodial property, the transfer […]
72-26-606. Other transfer by fiduciary. (1) Subject to subsection (3), a personal representative or trustee may make an irrevocable transfer to another adult or trust company as custodian for the benefit of a minor pursuant to 72-26-603, in the absence of a will or under a will or trust that does not contain an authorization to […]
72-26-607. Transfer by obligor. (1) Subject to subsections (2) and (3), a person not subject to 72-26-605 or 72-26-606 who holds property of or owes a liquidated debt to a minor not having a conservator may make an irrevocable transfer to a custodian for the benefit of the minor pursuant to 72-26-603. (2) If a person having […]
72-26-608. Receipt for custodial property. A written acknowledgment of delivery by a custodian constitutes a sufficient receipt and discharge for custodial property transferred to the custodian pursuant to this chapter. History: En. Sec. 10, Ch. 102, L. 1985.
72-26-609. Validity and effect of transfer. (1) The validity of a transfer made in a manner prescribed in this chapter is not affected by: (a) failure of the transferor to comply with 72-26-603(3) concerning possession and control; (b) designation of an ineligible custodian, except designation of the transferor in the case of property for which the transferor is […]
