[§554B-4]  Form and effect of receipt and
acceptance by custodial trustee, jurisdiction.  (a)  The obligations of a
custodial trustee, including the obligation to follow directions of the
beneficiary pursuant to section 554B-7, arise under this chapter upon the
custodial trustee's acceptance, express or implied, of the custodial trust
property.



(b)  The custodial trustee's acceptance may be
evidenced by a writing stating in substance:



 



CUSTODIAL
TRUSTEE'S RECEIPT AND ACCEPTANCE



 



I, _____________________________ (name of
custodial trustee) acknowledge receipt of the custodial trust property
described below or in the attached instrument and accept the custodial trust as
custodial trustee for ____________________________ (name of beneficiary) under
the Hawaii Uniform Custodial Trust Act.  I undertake to administer and
distribute the custodial trust property pursuant to the Hawaii Uniform
Custodial Trust Act.  My obligations as custodial trustee are subject to the
directions of the beneficiary unless the beneficiary is designated as, is, or
becomes incapacitated.  The custodial trust property consists of
________________________.



Dated:__________________



______________________________________



(Signature of Custodial Trustee)



 



(c)  Upon acceptance of the custodial trust
property, a person designated as custodial trustee under this chapter is
subject to personal jurisdiction of the courts of this State with respect to
any matter relating to the custodial trust. [L 1989, c 76, pt of §1]