Transfer by obligor
Sec. 22. (a) A person not subject to section 20 or 21 of this
chapter that holds property of or owes a liquidated debt to a minor
not having a guardian may make an irrevocable transfer to a
custodian for the benefit of the minor under section 24 of this
chapter.
(b) If a person having the right to nominate a custodian under
section 18 of this chapter has nominated a custodian under that
section to receive the custodial property, the transfer shall be made
to the custodian.
As added by P.L.267-1989, SEC.2.
Last modified: May 27, 2006