New Jersey Statutes 46:38A-45. Designation successor custodian when custodian is ineligible, dies or becomes incapacitated
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Terms Used In New Jersey Statutes 46:38A-45
- Adult: means an individual who has attained the age of 21 years. See New Jersey Statutes 46:38A-2
- Court: means the Superior Court. See New Jersey Statutes 46:38A-2
- Custodian: means a person so designated under R. See New Jersey Statutes 46:38A-2
- Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
- Legal representative: means an individual's personal representative or guardian. 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
- Person: means an individual, corporation, organization, or other legal entity. See New Jersey Statutes 46:38A-2
- Transferor: means a person who makes a transfer under this chapter. 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 is ineligible, dies or becomes incapacitated without having effectively designated a successor custodian and the minor has attained the age of 14 years, the minor may, in the manner prescribed in R.S. 46:38A-44, designate an adult member of the minor’s family, the guardian of the minor’s estate or a trust company as successor custodian. If the minor has not attained the age of 14 years or if the minor has attained the age of 14 years and fails to act within 60 days after the ineligibility, death, or incapacity, the guardian of the minor’s estate shall become the successor custodian. If there is no guardian of the minor’s estate or the guardian declines to act, the transferor, the legal representative of the transferor or of the custodian, an adult member of the minor’s family, or any other interested person may apply to the court to designate a successor custodian.
L. 1987, c. 18, s. 1.