38-1710.Manner of creating custodial property and effectingtransfer; designation of initial custodian; control.(a) Custodialproperty is created and a transfer is made whenever:
(1) An uncertificated security or a certificated security in registered form is either:
(i) Registered in the name of the transferor, an adult other than thetransferor, or a trust company, followed in substance by the words: "ascustodian for __________ (name of minor) under the Kansas uniform transfersto minors act"; or
(ii) delivered if in certificated form, or any document necessary forthe transfer of an uncertificated security is delivered, together with anynecessary endorsement to an adult other than the transferor or to a trustcompany as custodian, accompanied by an instrument in substantially theform set forth in subsection (b);
(2) money is paid or delivered to a broker or financial institution forcredit to an account in the name of the transferor, an adult other than thetransferor, or a trust company, followed in substance by the words: "ascustodian for ______ (name of minor) under the Kansas uniform transfers to minors act";
(3) the ownership of a life or endowment insurance policy or annuity contract is either:
(i) registered with the issuer in the name of the transferor, an adultother than the transferor, or a trust company, followed in substance by thewords: "as custodian for _________ (name of minor) under the Kansas uniformtransfers to minors act"; or
(ii) assigned in a writing delivered to an adult other than thetransferor or to a trust company whose name in the assignment is followedin substance by the words: "as custodian for ________ (name of minor) underthe Kansas uniform transfers to minors act";
(4) an irrevocable exercise of a power of appointment or an irrevocablepresent right to future payment under a contract is the subject of awritten notification delivered to the payor, issuer, or other obligor thatthe right is transferred to the transferor, an adult other than thetransferor, or a trust company, whose name in the notification is followedin substance by the words: "as custodian for _________ (name of minor)under the Kansas 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 insubstance by the words: "as custodian for _________ (name of minor) underthe Kansas uniform transfers to minors act";
(6) a certificate of title issued by a department or agency of a stateor of the United States which evidences title to tangible personal property is either:
(i) issued in the name of the transferor, an adult other than thetransferor, or a trust company, followed in substance by the words: "ascustodian for ______ (name of minor) under the Kansas transfers to minors act"; or
(ii) delivered to an adult other than the transferor or to a trustcompany, endorsed to that person followed in substance by the words: "ascustodian for _________ (name of minor) under the Kansas 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 trustcompany by a written instrument in substantially the form set forth in subsection (b).
(b) An instrument in the following form satisfies the requirements ofparagraphs (1)(ii) and (7) of subsection (a):
"TRANSFER UNDER THE [NAME OF ENACTING STATE]UNIFORM TRANSFERS TO MINORS ACT
I, ________________ (name of transferor or name and representativecapacity if a fiduciary) hereby transfer to _______________ (name ofcustodian), as custodian for ____________ (name of minor) under the [Nameof enacting state] uniform transfers to minors act, the following: (inserta description of the custodial property sufficient to identify it).
Dated: ___________
___________________________ (Signature)
______________________ (name of custodian) acknowledges receipt of theproperty described above as custodian for the minor named above under the[Name of enacting state] uniform transfers to minors act.
Dated:________________
___________________________" (Signature of Custodian)
(c) A transferor shall place the custodian in control of the custodialproperty as soon as practicable.
38-1710.Manner of creating custodial property and effectingtransfer; designation of initial custodian; control.(a) Custodialproperty is created and a transfer is made whenever:
(1) An uncertificated security or a certificated security in registered form is either:
(i) Registered in the name of the transferor, an adult other than thetransferor, or a trust company, followed in substance by the words: "ascustodian for __________ (name of minor) under the Kansas uniform transfersto minors act"; or
(ii) delivered if in certificated form, or any document necessary forthe transfer of an uncertificated security is delivered, together with anynecessary endorsement to an adult other than the transferor or to a trustcompany as custodian, accompanied by an instrument in substantially theform set forth in subsection (b);
(2) money is paid or delivered to a broker or financial institution forcredit to an account in the name of the transferor, an adult other than thetransferor, or a trust company, followed in substance by the words: "ascustodian for ______ (name of minor) under the Kansas uniform transfers to minors act";
(3) the ownership of a life or endowment insurance policy or annuity contract is either:
(i) registered with the issuer in the name of the transferor, an adultother than the transferor, or a trust company, followed in substance by thewords: "as custodian for _________ (name of minor) under the Kansas uniformtransfers to minors act"; or
(ii) assigned in a writing delivered to an adult other than thetransferor or to a trust company whose name in the assignment is followedin substance by the words: "as custodian for ________ (name of minor) underthe Kansas uniform transfers to minors act";
(4) an irrevocable exercise of a power of appointment or an irrevocablepresent right to future payment under a contract is the subject of awritten notification delivered to the payor, issuer, or other obligor thatthe right is transferred to the transferor, an adult other than thetransferor, or a trust company, whose name in the notification is followedin substance by the words: "as custodian for _________ (name of minor)under the Kansas 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 insubstance by the words: "as custodian for _________ (name of minor) underthe Kansas uniform transfers to minors act";
(6) a certificate of title issued by a department or agency of a stateor of the United States which evidences title to tangible personal property is either:
(i) issued in the name of the transferor, an adult other than thetransferor, or a trust company, followed in substance by the words: "ascustodian for ______ (name of minor) under the Kansas transfers to minors act"; or
(ii) delivered to an adult other than the transferor or to a trustcompany, endorsed to that person followed in substance by the words: "ascustodian for _________ (name of minor) under the Kansas 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 trustcompany by a written instrument in substantially the form set forth in subsection (b).
(b) An instrument in the following form satisfies the requirements ofparagraphs (1)(ii) and (7) of subsection (a):
"TRANSFER UNDER THE [NAME OF ENACTING STATE]UNIFORM TRANSFERS TO MINORS ACT
I, ________________ (name of transferor or name and representativecapacity if a fiduciary) hereby transfer to _______________ (name ofcustodian), as custodian for ____________ (name of minor) under the [Nameof enacting state] uniform transfers to minors act, the following: (inserta description of the custodial property sufficient to identify it).
Dated: ___________
___________________________ (Signature)
______________________ (name of custodian) acknowledges receipt of theproperty described above as custodian for the minor named above under the[Name of enacting state] uniform transfers to minors act.
Dated:________________
___________________________" (Signature of Custodian)
(c) A transferor shall place the custodian in control of the custodialproperty as soon as practicable.
38-1710.Manner of creating custodial property and effectingtransfer; designation of initial custodian; control.(a) Custodialproperty is created and a transfer is made whenever:
(1) An uncertificated security or a certificated security in registered form is either:
(i) Registered in the name of the transferor, an adult other than thetransferor, or a trust company, followed in substance by the words: "ascustodian for __________ (name of minor) under the Kansas uniform transfersto minors act"; or
(ii) delivered if in certificated form, or any document necessary forthe transfer of an uncertificated security is delivered, together with anynecessary endorsement to an adult other than the transferor or to a trustcompany as custodian, accompanied by an instrument in substantially theform set forth in subsection (b);
(2) money is paid or delivered to a broker or financial institution forcredit to an account in the name of the transferor, an adult other than thetransferor, or a trust company, followed in substance by the words: "ascustodian for ______ (name of minor) under the Kansas uniform transfers to minors act";
(3) the ownership of a life or endowment insurance policy or annuity contract is either:
(i) registered with the issuer in the name of the transferor, an adultother than the transferor, or a trust company, followed in substance by thewords: "as custodian for _________ (name of minor) under the Kansas uniformtransfers to minors act"; or
(ii) assigned in a writing delivered to an adult other than thetransferor or to a trust company whose name in the assignment is followedin substance by the words: "as custodian for ________ (name of minor) underthe Kansas uniform transfers to minors act";
(4) an irrevocable exercise of a power of appointment or an irrevocablepresent right to future payment under a contract is the subject of awritten notification delivered to the payor, issuer, or other obligor thatthe right is transferred to the transferor, an adult other than thetransferor, or a trust company, whose name in the notification is followedin substance by the words: "as custodian for _________ (name of minor)under the Kansas 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 insubstance by the words: "as custodian for _________ (name of minor) underthe Kansas uniform transfers to minors act";
(6) a certificate of title issued by a department or agency of a stateor of the United States which evidences title to tangible personal property is either:
(i) issued in the name of the transferor, an adult other than thetransferor, or a trust company, followed in substance by the words: "ascustodian for ______ (name of minor) under the Kansas transfers to minors act"; or
(ii) delivered to an adult other than the transferor or to a trustcompany, endorsed to that person followed in substance by the words: "ascustodian for _________ (name of minor) under the Kansas 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 trustcompany by a written instrument in substantially the form set forth in subsection (b).
(b) An instrument in the following form satisfies the requirements ofparagraphs (1)(ii) and (7) of subsection (a):
"TRANSFER UNDER THE [NAME OF ENACTING STATE]UNIFORM TRANSFERS TO MINORS ACT
I, ________________ (name of transferor or name and representativecapacity if a fiduciary) hereby transfer to _______________ (name ofcustodian), as custodian for ____________ (name of minor) under the [Nameof enacting state] uniform transfers to minors act, the following: (inserta description of the custodial property sufficient to identify it).
Dated: ___________
___________________________ (Signature)
______________________ (name of custodian) acknowledges receipt of theproperty described above as custodian for the minor named above under the[Name of enacting state] uniform transfers to minors act.
Dated:________________
___________________________" (Signature of Custodian)
(c) A transferor shall place the custodian in control of the custodialproperty as soon as practicable.
