§33A‑9. Manner of creating custodial property and effecting transfer;designation of initial custodian; control.
(a) Custodial propertyis created and a transfer is made whenever:
(1) An uncertificatedsecurity or a certificated security in registered form is either:
a. Registered in thename of the transferor, an adult other than the transferor, or a trust company,followed in substance by the words: "as custodian for ________ (name ofminor) under the North Carolina Uniform Transfers to Minors Act"; or
b. Delivered if incertificated form, or any document necessary for the transfer of anuncertificated security is delivered, together with any necessary endorsementto an adult other than the transferor or to a trust company as custodian,accompanied by an instrument in substantially the form set forth in subsection(b);
(2) Money is paid ordelivered, or a security held in the name of a broker, financial institution,or its nominee is transferred, to a broker or financial institution for creditto an account in the name of the transferor, an adult other than thetransferor, or a trust company, followed in substance by the words: "ascustodian for __________________ (name of minor) under the North CarolinaUniform Transfers to Minors Act";
(3) The ownership of alife or endowment insurance policy or annuity contract is either:
a. Registered with theissuer in the name of the transferor, an adult other than the transferor, or atrust company, followed in substance by the words: "as custodian for__________ (name of minor) under the North Carolina Uniform Transfers to MinorsAct"; or
b. Assigned in awriting delivered to an adult other than the transferor or to a trust companywhose name in the assignment is followed in substance by the words: "ascustodian for __________ (name of minor) under the North Carolina UniformTransfers to Minors Act";
(4) An irrevocableexercise of a power of appointment or an irrevocable present right to futurepayment under a contract is the subject of a written notification delivered tothe payor, issuer, or other obligor that the right is transferred to thetransferor, an adult other than the transferor, or a trust company, whose namein the notification is followed in substance by the words: "as custodianfor __________ (name of minor) under the North Carolina Uniform Transfers toMinors Act";
(5) An interest in realproperty is conveyed or devised to the transferor, an adult other than thetransferor, or a trust company, whose name in the conveyance is followed insubstance by the words: "as custodian for __________ (name of minor)under the North Carolina Uniform Transfers to Minors Act";
(6) A certificate oftitle issued by a department or agency of a state or of the United States whichevidences title to tangible personal property is either:
a. Issued in the nameof the transferor, an adult other than the transferor, or a trust company,followed in substance by the words: "as custodian for __________ (name ofminor) under the North Carolina Uniform Transfers to Minors Act"; or
b. Delivered to anadult other than the transferor or to a trust company, endorsed to that personfollowed in substance by the words: "as custodian for __________ (name ofminor) under the North Carolina Uniform Transfers to Minors Act"; or
(7) An interest in anyproperty not described in paragraphs (1) through (6) is transferred to an adultother than the transferor or to a trust company by a written instrument insubstantially the form set forth in subsection (b).
(b) An instrument inthe following form satisfies the requirements of paragraphs (1)b. and (7) ofsubsection (a):
TRANSFER UNDER THE NORTH CAROLINA
UNIFORM TRANSFERS TO MINORS ACT
I, __________ (name oftransferor or name and representative capacity if a fiduciary) hereby transferto __________ (name of custodian), as custodian for __________ (name of minor)under the North Carolina Uniform Transfers to Minors Act, the following: (insert a description of the custodial property sufficient to identify it).
Dated: ____________________
_____________________________
(Signature)
____________________ (name ofcustodian) acknowledges receipt of the property described above as custodianfor the minor named above under the North Carolina Uniform Transfers to MinorsAct.
Dated: ____________________
__________________________________
(Signatureof Custodian)
(c) A transferor shallplace the custodian in control of the custodial property as soon aspracticable. (1987, c. 563, s. 2; 1997‑456, s. 27.)
§33A‑9. Manner of creating custodial property and effecting transfer;designation of initial custodian; control.
(a) Custodial propertyis created and a transfer is made whenever:
(1) An uncertificatedsecurity or a certificated security in registered form is either:
a. Registered in thename of the transferor, an adult other than the transferor, or a trust company,followed in substance by the words: "as custodian for ________ (name ofminor) under the North Carolina Uniform Transfers to Minors Act"; or
b. Delivered if incertificated form, or any document necessary for the transfer of anuncertificated security is delivered, together with any necessary endorsementto an adult other than the transferor or to a trust company as custodian,accompanied by an instrument in substantially the form set forth in subsection(b);
(2) Money is paid ordelivered, or a security held in the name of a broker, financial institution,or its nominee is transferred, to a broker or financial institution for creditto an account in the name of the transferor, an adult other than thetransferor, or a trust company, followed in substance by the words: "ascustodian for __________________ (name of minor) under the North CarolinaUniform Transfers to Minors Act";
(3) The ownership of alife or endowment insurance policy or annuity contract is either:
a. Registered with theissuer in the name of the transferor, an adult other than the transferor, or atrust company, followed in substance by the words: "as custodian for__________ (name of minor) under the North Carolina Uniform Transfers to MinorsAct"; or
b. Assigned in awriting delivered to an adult other than the transferor or to a trust companywhose name in the assignment is followed in substance by the words: "ascustodian for __________ (name of minor) under the North Carolina UniformTransfers to Minors Act";
(4) An irrevocableexercise of a power of appointment or an irrevocable present right to futurepayment under a contract is the subject of a written notification delivered tothe payor, issuer, or other obligor that the right is transferred to thetransferor, an adult other than the transferor, or a trust company, whose namein the notification is followed in substance by the words: "as custodianfor __________ (name of minor) under the North Carolina Uniform Transfers toMinors Act";
(5) An interest in realproperty is conveyed or devised to the transferor, an adult other than thetransferor, or a trust company, whose name in the conveyance is followed insubstance by the words: "as custodian for __________ (name of minor)under the North Carolina Uniform Transfers to Minors Act";
(6) A certificate oftitle issued by a department or agency of a state or of the United States whichevidences title to tangible personal property is either:
a. Issued in the nameof the transferor, an adult other than the transferor, or a trust company,followed in substance by the words: "as custodian for __________ (name ofminor) under the North Carolina Uniform Transfers to Minors Act"; or
b. Delivered to anadult other than the transferor or to a trust company, endorsed to that personfollowed in substance by the words: "as custodian for __________ (name ofminor) under the North Carolina Uniform Transfers to Minors Act"; or
(7) An interest in anyproperty not described in paragraphs (1) through (6) is transferred to an adultother than the transferor or to a trust company by a written instrument insubstantially the form set forth in subsection (b).
(b) An instrument inthe following form satisfies the requirements of paragraphs (1)b. and (7) ofsubsection (a):
TRANSFER UNDER THE NORTH CAROLINA
UNIFORM TRANSFERS TO MINORS ACT
I, __________ (name oftransferor or name and representative capacity if a fiduciary) hereby transferto __________ (name of custodian), as custodian for __________ (name of minor)under the North Carolina Uniform Transfers to Minors Act, the following: (insert a description of the custodial property sufficient to identify it).
Dated: ____________________
_____________________________
(Signature)
____________________ (name ofcustodian) acknowledges receipt of the property described above as custodianfor the minor named above under the North Carolina Uniform Transfers to MinorsAct.
Dated: ____________________
__________________________________
(Signatureof Custodian)
(c) A transferor shallplace the custodian in control of the custodial property as soon aspracticable. (1987, c. 563, s. 2; 1997‑456, s. 27.)
§33A‑9. Manner of creating custodial property and effecting transfer;designation of initial custodian; control.
(a) Custodial propertyis created and a transfer is made whenever:
(1) An uncertificatedsecurity or a certificated security in registered form is either:
a. Registered in thename of the transferor, an adult other than the transferor, or a trust company,followed in substance by the words: "as custodian for ________ (name ofminor) under the North Carolina Uniform Transfers to Minors Act"; or
b. Delivered if incertificated form, or any document necessary for the transfer of anuncertificated security is delivered, together with any necessary endorsementto an adult other than the transferor or to a trust company as custodian,accompanied by an instrument in substantially the form set forth in subsection(b);
(2) Money is paid ordelivered, or a security held in the name of a broker, financial institution,or its nominee is transferred, to a broker or financial institution for creditto an account in the name of the transferor, an adult other than thetransferor, or a trust company, followed in substance by the words: "ascustodian for __________________ (name of minor) under the North CarolinaUniform Transfers to Minors Act";
(3) The ownership of alife or endowment insurance policy or annuity contract is either:
a. Registered with theissuer in the name of the transferor, an adult other than the transferor, or atrust company, followed in substance by the words: "as custodian for__________ (name of minor) under the North Carolina Uniform Transfers to MinorsAct"; or
b. Assigned in awriting delivered to an adult other than the transferor or to a trust companywhose name in the assignment is followed in substance by the words: "ascustodian for __________ (name of minor) under the North Carolina UniformTransfers to Minors Act";
(4) An irrevocableexercise of a power of appointment or an irrevocable present right to futurepayment under a contract is the subject of a written notification delivered tothe payor, issuer, or other obligor that the right is transferred to thetransferor, an adult other than the transferor, or a trust company, whose namein the notification is followed in substance by the words: "as custodianfor __________ (name of minor) under the North Carolina Uniform Transfers toMinors Act";
(5) An interest in realproperty is conveyed or devised to the transferor, an adult other than thetransferor, or a trust company, whose name in the conveyance is followed insubstance by the words: "as custodian for __________ (name of minor)under the North Carolina Uniform Transfers to Minors Act";
(6) A certificate oftitle issued by a department or agency of a state or of the United States whichevidences title to tangible personal property is either:
a. Issued in the nameof the transferor, an adult other than the transferor, or a trust company,followed in substance by the words: "as custodian for __________ (name ofminor) under the North Carolina Uniform Transfers to Minors Act"; or
b. Delivered to anadult other than the transferor or to a trust company, endorsed to that personfollowed in substance by the words: "as custodian for __________ (name ofminor) under the North Carolina Uniform Transfers to Minors Act"; or
(7) An interest in anyproperty not described in paragraphs (1) through (6) is transferred to an adultother than the transferor or to a trust company by a written instrument insubstantially the form set forth in subsection (b).
(b) An instrument inthe following form satisfies the requirements of paragraphs (1)b. and (7) ofsubsection (a):
TRANSFER UNDER THE NORTH CAROLINA
UNIFORM TRANSFERS TO MINORS ACT
I, __________ (name oftransferor or name and representative capacity if a fiduciary) hereby transferto __________ (name of custodian), as custodian for __________ (name of minor)under the North Carolina Uniform Transfers to Minors Act, the following: (insert a description of the custodial property sufficient to identify it).
Dated: ____________________
_____________________________
(Signature)
____________________ (name ofcustodian) acknowledges receipt of the property described above as custodianfor the minor named above under the North Carolina Uniform Transfers to MinorsAct.
Dated: ____________________
__________________________________
(Signatureof Custodian)
(c) A transferor shallplace the custodian in control of the custodial property as soon aspracticable. (1987, c. 563, s. 2; 1997‑456, s. 27.)
