§553A-18  Renunciation, resignation, death,
or removal of custodian; designation of successor custodian.  (a)  A person
nominated under section 553A-3 or designated under section 553A-9 as custodian
may decline to serve by delivering a valid renunciation pursuant to chapter 526
to the person who made the nomination or to the transferor or the transferor's
legal representative.  If the event giving rise to a transfer has not occurred
and no substitute custodian able, willing, and eligible to serve was nominated
under section 553A-3, the person who made the nomination may nominate a
substitute custodian under section 553A-3; otherwise the transferor or the
transferor's legal representative shall designate a substitute custodian at the
time of the transfer, in either case from among the persons eligible to serve
as custodian for that kind of property under section 553A-9(a).  The custodian
so designated has the rights of a successor custodian.



(b)  A custodian at any time may designate a
trust company or an adult other than a transferor under section 553A-4 as
successor custodian by executing and dating an instrument of designation before
a subscribing witness other than the successor.  If the instrument of
designation does not contain or is not accompanied by the resignation of the
custodian, the designation of the successor does not take effect until the
custodian resigns, dies, becomes incapacitated, or is removed.



(c)  A custodian may resign at any time by
delivering written notice to the minor if the minor has attained the age of
fourteen years and to the successor custodian and by delivering the custodial
property to the successor custodian.



(d)  If a custodian is ineligible, dies, or
becomes incapacitated without having effectively designated a successor and the
minor has attained the age of fourteen years, the minor may designate as
successor custodian, in the manner prescribed in subsection (b), an adult
member of the minor's family, a conservator of the minor, or a trust company. 
If the minor has not attained the age of fourteen years or fails to act within
sixty days after the ineligibility, death, or incapacity, the conservator of
the minor becomes successor custodian.  If the minor has no conservator or the
conservator 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 petition the court to designate a successor
custodian.



(e)  A custodian who declines to serve under
subsection (a) or resigns under subsection (c), or the legal representative of
a deceased or incapacitated custodian, as soon as practicable, shall put the
custodial property and records in the possession and control of the successor
custodian.  The successor custodian by action may enforce the obligation to
deliver custodial property and records and becomes responsible for each item as
received.



(f)  A transferor, the legal representative of
a transferor, an adult member of the minor's family, a guardian of the minor,
the conservator of the minor, or the minor if the minor has attained the age of
fourteen years may petition the court to remove the custodian for cause and to
designate a successor custodian other than a transferor under section 553A-4 or
to require the custodian to give appropriate bond. [L 1985, c 91, pt of §1; am
L 2000, c 43, §2; am L 2004, c 161, §36]