14-7657. Transfer by obligor
A. Pursuant to subsections B and C of this section, a person who is not subject to
section 14-7655 or 14-7656 and who holds property of or owes a liquidated debt to a minor
who does not have a conservator may make an irrevocable transfer to a custodian for the
benefit of the minor pursuant to section 14-7659.
B. If a person having the right to do so pursuant to section 14-7653 has nominated
a custodian under that section to receive the custodial property, the transfer must be
made to that person.
C. If no custodian has been nominated pursuant to section 14-7653 or all persons so
nominated as custodian die before the transfer or are unable, decline or are ineligible
to serve, a transfer pursuant to this section may be made to an adult member of the
minor's family or to a trust company unless the property exceeds ten thousand dollars in
value.
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