§554B-5  Transfer to custodial trustee by
fiduciary or obligor, facility of payment.  (a)  Unless controlled by an
instrument designating a custodial trustee under section 554B-3, a person,
including a fiduciary other than a custodial trustee, who holds property of or
owes a debt to an incapacitated individual not having a conservator may make a
transfer to an adult member of the beneficiary's family or to a trust company
as custodial trustee for the benefit of the incapacitated individual.  If the
property or obligation exceeds $20,000 in value, the transfer must be
authorized by the court.



(b)  The written acknowledgment of delivery
signed by a custodial trustee constitutes a sufficient receipt and discharge
for property transferred to the custodial trustee pursuant to this section. [L
1989, c 76, pt of §1; am L 2004, c 161, §36]