New Jersey Statutes 46:38A-5. Choice of law
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Terms Used In New Jersey Statutes 46:38A-5
- 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
- State: includes any state of the United States, the District of Columbia, the Commonwealth of Puerto Rico, and any territory or possession subject to the legislative authority of the United States. See New Jersey Statutes 46:38A-2
- Transfer: means a transaction that creates custodial property under R. 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
A transfer that purports to be made and which is valid under the Uniform Transfers to Minors Act, the Uniform Gifts to Minors Act, or a substantially similar act, of another state is governed by the law of the designated state and may be executed and is enforceable in this State if at the time of the transfer, the transferor, the minor, or the custodian is a resident of the designated state or the custodial property is located in the designated state.
L. 1987, c. 18, s. 1.