New Jersey Statutes 46:38A-17. Transfer by obligor; custodian not nominated or dead, etc
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Terms Used In New Jersey Statutes 46:38A-17
- Adult: means an individual who has attained the age of 21 years. See New Jersey Statutes 46:38A-2
- Custodial property: means any interest in property transferred to a custodian under this chapter and the income from and proceeds of that interest in property. See New Jersey Statutes 46:38A-2
- Custodian: means a person so designated under R. See New Jersey Statutes 46:38A-2
- Minor: means an individual who has not attained the age of 21 years. See New Jersey Statutes 46:38A-2
- Transfer: means a transaction that creates custodial property under R. See New Jersey Statutes 46:38A-2
- Trust company: means a financial institution, corporation, or other legal entity, authorized to exercise general trust powers. See New Jersey Statutes 46:38A-2
If a custodian has not been nominated under R.S. 46:38A-6, or all persons so nominated as custodian to receive custodial property under R.S. 46:38A-15 die before the transfer or are unable, decline, or are ineligible to serve, a transfer under R.S. 46:38A-15 may be made to an adult member of the minor‘s family or to a trust company unless the property exceeds $10,000.00 in value.
L. 1987, c. 18, s. 1.