[§553A-9]  Manner of creating custodial
property and effecting transfer; designation of initial custodian; control. 
(a)  Custodial property is created and a transfer is made whenever:



(1)  An uncertificated security or a certificated
security in registered form is either:



(A)  Registered in the name of the transferor,
an adult other than the transferor, or a trust company, followed in substance
by the words:  "as custodian for ____________________ (name of minor)
under the Hawaii Uniform Transfers to Minors Act"; or



(B)  Delivered if in certificated form, or any
document necessary for the transfer of an uncertificated security is delivered,
together with any necessary endorsement to 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 or delivered to a broker or
financial institution for credit to an account in the name of the transferor,
an adult other than the transferor, or a trust company, followed in substance
by the words: "as custodian for ____________________ (name of minor) under
the Hawaii Uniform Transfers to Minors Act";



(3)  The ownership of a life or endowment insurance
policy or annuity contract is either:



(A)  Registered with the issuer in the name of
the transferor, an adult other than the transferor, or a trust company,
followed in substance by the words:  "as custodian for
____________________ (name of minor) under the Hawaii Uniform Transfers to
Minors Act"; or



(B)  Assigned in a writing delivered to an
adult other than the transferor or to a trust company whose name in the
assignment is followed in substance by the words:  "as custodian for
____________________ (name of minor) under the Hawaii Uniform Transfers to
Minors Act";



(4)  An irrevocable exercise of a power of appointment
or an irrevocable present right to future payment under a contract is the
subject of a written notification delivered to the payor, issuer, or other
obligor that the right is transferred to the transferor, an adult other than
the transferor, or a trust company, whose name in the notification is followed
in substance by the words:  "as custodian for ____________________ (name
of minor) under the Hawaii Uniform Transfers to Minors Act";



(5)  An interest in real property is recorded in the
name of the transferor, an adult other than the transferor, or a trust company,
followed in substance by the words: "as custodian for ____________________
(name of minor) under the Hawaii Uniform Transfers to Minors Act";



(6)  A certificate of title issued by a department or
agency of a state or of the United States which evidences title to tangible
personal property is either:



(A)  Issued in the name of the transferor, an
adult other than the transferor, or a trust company, followed in substance by
the words:  "as custodian for ____________________ (name of minor) under
the Hawaii Uniform Transfers to Minors Act"; or



(B)  Delivered to an adult other than the
transferor or to a trust company, endorsed to that person followed in substance
by the words:  "as custodian for ____________________ (name of minor)
under the Hawaii Uniform Transfers to Minors Act"; or



(7)  An interest in any property not described in
paragraphs (1) through (6) is transferred to an adult other than the transferor
or to a trust company by a written instrument in substantially the form set
forth in subsection (b).



(b)  An instrument in the following form
satisfies the requirements of paragraphs (1)(B) and (7) of subsection (a):



 



"TRANSFER
UNDER THE HAWAII



UNIFORM
TRANSFERS TO MINORS ACT



I, ____________________ (name of transferor or
name and representative capacity if a fiduciary) hereby transfer to
____________________ (name of custodian), as custodian for ____________________
(name of minor) under the Hawaii Uniform Transfers to Minors Act, the
following:  (insert a description of the custodial property sufficient to
identify it).



Dated:  ____________________



________________________________________



(Signature)



____________________ (name of custodian)
acknowledges receipt of the property described above as custodian for the minor
named above under the Hawaii Uniform Transfers to Minors Act.



Dated:  ____________________



________________________________________"



(Signature of Custodian)



(c)  A transferor shall place the custodian in
control of the custodial property as soon as practicable. [L 1985, c 91, pt of
§1]