North Carolina General Statutes Chapter 33A North Carolina Uniform Transfers to Minors Act

• N.C. Gen. Stat. § 33A-1.   Definitions
  In this Chapter: (1) "Adult" means an individual who has attained the age of 21 years. (2) "Benefit plan" means an employer's plan for...
• N.C. Gen. Stat. § 33A-2.   Scope and jurisdiction
  (a) This Chapter applies to a transfer if at the time of the transfer, the transferor, the minor, or the custodian is a resident...
• N.C. Gen. Stat. § 33A-3.   Nomination of custodian
  (a) A person having the right to designate the recipient of property transferable upon the occurrence of a future event may revocably nominate a...
• N.C. Gen. Stat. § 33A-4.   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...
• N.C. Gen. Stat. § 33A-5.   Transfer authorized by will or trust
  (a) A personal representative or trustee may make an irrevocable transfer pursuant to G.S. 33A-9 to a custodian for the benefit of a minor...
• N.C. Gen. Stat. § 33A-6.   Other transfer by fiduciary
  (a) Subject to subsection (c), a personal representative or trustee may make an irrevocable transfer to the transferor or to another adult or trust...
• N.C. Gen. Stat. § 33A-7.   Transfer by obligor
  (a) Subject to subsections (b) and (c), a person not subject to Section 33A-5 or 33A-6 who holds property of or owes a liquidated...
• N.C. Gen. Stat. § 33A-8.   Receipt for custodial property
  A written acknowledgement by a custodian of delivery authorized by this Chapter constitutes a sufficient receipt and discharge for custodial property transferred to the...
• N.C. Gen. Stat. § 33A-9.   Manner of creating custodial property and effecting transfer; designation of initial custodian; control
  (a) Custodial property is created and a transfer is made whenever: (1) An uncertificated security or a certificated security in registered form is either:...
• N.C. Gen. Stat. § 33A-10.   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...
• N.C. Gen. Stat. § 33A-11.   Validity and effect of transfer
  (a) The validity of a transfer made in a manner prescribed in this Chapter is not affected by: (1) Failure of the transferor to...
• N.C. Gen. Stat. § 33A-12.   Care of custodial property
  (a) A custodian shall: (1) Take control of custodial property; (2) Register or record title to custodial property if appropriate; and (3) Collect, hold,...
• N.C. Gen. Stat. § 33A-13.   Powers of custodian
  (a) A custodian, acting in a custodial capacity, has all the rights, powers, and authority over custodial property that unmarried adult owners have over...
• N.C. Gen. Stat. § 33A-14.   Use of custodial property
  (a) A custodian may deliver or pay to the minor or expend for the minor's benefit so much of the custodial property as the...
• N.C. Gen. Stat. § 33A-15.   Custodian's expenses, compensation, and bond
  (a) A custodian is entitled to pay from and to be reimbursed from custodial property for reasonable expenses incurred in the performance of the...
• N.C. Gen. Stat. § 33A-16.   Exemption of third person from liability
  A third person in good faith and without court order may act on the instructions of or otherwise deal with any person purporting to...
• N.C. Gen. Stat. § 33A-17.   Liability to third persons
  (a) A claim based on (i) a contract entered into by a custodian acting in a custodial capacity, (ii) an obligation arising from the...
• N.C. Gen. Stat. § 33A-18.   Renunciation, resignation, death, or removal of custodian; designation of successor custodian
  (a) A person nominated under G.S. 33A-3 or designated under G.S. 33A-9 as custodian may decline to serve by delivering a written disclaimer to...
• N.C. Gen. Stat. § 33A-19.   Accounting by and determination of liability of custodian
  (a) A minor who has attained the age of 14 years, the minor's guardian of the person or legal representative, an adult member of...
• N.C. Gen. Stat. § 33A-20.   Termination of custodianship
  The custodian shall transfer in an appropriate manner the custodial property to the minor or to the minor's estate upon the earlier of: (1)...
• N.C. Gen. Stat. § 33A-21.   Applicability
  This Chapter applies to a transfer within the scope of G.S. 33A-2 made after October 1, 1987, if: (1) The transfer purports to have...
• N.C. Gen. Stat. § 33A-22.   Effect on existing custodianships
  (a) Any transfer of custodial property as now defined in this Chapter made before October 1, 1987, is validated notwithstanding that there was no...
• N.C. Gen. Stat. § 33A-23.   Uniformity of application and construction
  This Chapter shall be applied and construed to effect its general purpose to make uniform the law with respect to the subject of this...
• N.C. Gen. Stat. § 33A-24.   Short title
  This Chapter may be cited as the "North Carolina Uniform Transfers to Minors Act." (1987, c. 563, s. 2.)

Last modified: March 23, 2014