14-7657. Transfer by obligor
A. Pursuant to subsections B and C of this section, a person who is not subject to section 14-7655 or 14-7656 and who holds property of or owes a liquidated debt to a minor who does not have a conservator may make an irrevocable transfer to a custodian for the benefit of the minor pursuant to section 14-7659.
B. If a person having the right to do so pursuant to section 14-7653 has nominated a custodian under that section to receive the custodial property, the transfer must be made to that person.
C. If no custodian has been nominated pursuant to section 14-7653 or all persons so nominated as custodian die before the transfer or are unable, decline or are ineligible to serve, a transfer pursuant to this section may be made to an adult member of the minor's family or to a trust company unless the property exceeds ten thousand dollars in value.
Section: Previous 14-7512 14-7651 14-7652 14-7653 14-7654 14-7655 14-7656 14-7657 14-7658 14-7659 14-7660 14-7661 14-7662 14-7663 14-7664 NextLast modified: October 13, 2016