(a) Custodial property is created and a transfer is made when

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Terms Used In Alaska Statutes 13.46.080

  • Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
  • Contract: A legal written agreement that becomes binding when signed.
  • person: includes a corporation, company, partnership, firm, association, organization, business trust, or society, as well as a natural person. See Alaska Statutes 01.10.060
  • property: includes real and personal property. See Alaska Statutes 01.10.060
  • Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
  • state: means the State of Alaska unless applied to the different parts of the United States and in the latter case it includes the District of Columbia and the territories. See Alaska Statutes 01.10.060
  • writing: includes printing. See Alaska Statutes 01.10.060
(1) an uncertificated security or a certificated security in registered form is either

(A) registered in the name of the transferor, an adult other than the transferor, or a trust company, followed in substance by the words Sec.as custodian for _____________________________________ (name of minor) under the Alaska Uniform Transfers to Minors Act”; or
(B) delivered if in certificated form, or a document necessary for the transfer of an uncertificated security is delivered, together with any necessary endorsement to an adult other than the transferor or to a trust company as custodian, accompanied by an instrument in substantially the form set out in (b) of this section;
(2) money is paid or delivered to a broker or financial institution for credit to an account in the name of the transferor, an adult other than the transferor, or a trust company, followed in substance by the words – as custodian for _____________________________________ (name of minor) under the Alaska Uniform Transfers to Minors Act”;
(3) the ownership of a life or endowment insurance policy or annuity contract is either

(A) registered with the issuer in the name of the transferor, an adult other than the transferor, or a trust company, followed in substance by the words – as custodian for _____________________________________ (name of minor) under the Alaska Uniform Transfers to Minors Act”; or
(B) assigned in a writing delivered to an adult other than the transferor or to a trust company whose name in the assignment is followed in substance by the words – as custodian for _____________________________________ (name of minor) under the Alaska Uniform Transfers to Minors Act”;
(4) an irrevocable exercise of a power of appointment or an irrevocable present right to future payment under a contract is the subject of a written notification delivered to the payor, issuer, or other obligor that the right is transferred to the transferor, an adult other than the transferor, or a trust company, whose name in the notification is followed in substance by the words Sec.as custodian for _____________________________________ (name of minor) under the Alaska Uniform Transfers to Minors Act”;
(5) an interest in real property is recorded in the name of the transferor, an adult other than the transferor, or a trust company, followed in substance by the words – as custodian for _____________________________________ (name of minor) under the Alaska Uniform Transfers to Minors Act”;
(6) a certificate of title issued by a department or agency of a state or of the United States that evidences title to tangible personal property is either

(A) issued in the name of the transferor, an adult other than the transferor, or a trust company, followed in substance by the words Sec.as custodian for _____________________________________ (name of minor) under the Alaska Uniform Transfers to Minors Act”; or
(B) delivered to an adult other than the transferor or to a trust company, endorsed to that person followed in substance by the words Sec.as custodian for _____________________________________ (name of minor) under the Alaska Uniform Transfers to Minors Act”; or
(7) an interest in property not described in (1) – (6) of this subsection is transferred to an adult other than the transferor or to a trust company by a written instrument in substantially the form set out in (b) of this section.
(b) An instrument in the following form satisfies the requirements of (a)(1)(B) and (a)(7) of this section:

“TRANSFER UNDER THE ALASKA UNIFORM TRANSFERS TO MINORS ACT

I, _____________________________________________________________________ (name of transferor or name and representative capacity if a fiduciary) hereby transfer to _____________________________________ (name of custodian), as custodian for _____________________________________ (name of minor) under the Alaska Uniform Transfers to Minors Act, the following: (insert a description of the custodial property sufficient to identify it).

Dated: _____________________________________

(Signature)

_____________________________________ (name of custodian) has received the property described above as custodian for the minor named above under the Alaska Uniform Transfers to Minors Act.

Dated: _____________________________________

_____________________________________________________________________ “

(Signature of Custodian)

(c) A transferor shall place the custodian in control of the custodial property as soon as practicable.
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