§33B‑18. Methods and forms of creating custodial trusts.
(a) If a transaction(including a declaration with respect to or a transfer of specific property)otherwise satisfies applicable law, the criteria of G.S. 33B‑2 aresatisfied by:
(1) The execution andeither delivery to the custodial trustee or recording of an instrument insubstantially the following form:
"TRANSFER UNDER THE NORTH CAROLINA
UNIFORM CUSTODIAL TRUST ACT
I, __________________(name oftransferor or name and representative capacity if a fiduciary), transfer to_____________ (name of trustee other than transferor), as custodial trustee for____________ (name of beneficiary) as beneficiary and _____________ asdistributee on termination of the trust in absence of direction by the beneficiaryunder the North Carolina Uniform Custodial Trust Act, the following:
(insert a description of thecustodial trust property legally sufficient to identify and transfer each itemof property).
Dated: ______________
______________ (Seal) ___________(Witness)
Signature
___________(Witness)
STATE OF ______ COUNTY OF______
On this ______ day of_____, ____, personally appearedbefore me, the said named ______ to me known and known to me to be the persondescribed in and who executed the foregoing instrument and he (or she)acknowledged that he (or she) executed the same and being duly sworn by me,made oath that the statements in the foregoing instrument are true.
My Commission Expires ________
________________
(Signatureof Notary Public)
NotaryPublic (Official Seal)";
or
(2) The execution andthe recording or giving notice of its execution to the beneficiary of aninstrument in substantially the following form:
"DECLARATION OF TRUST UNDER THE NORTH CAROLINA
UNIFORM CUSTODIAL TRUST ACT
I, _______________(name ofowner of property,) declare that henceforth I hold as custodial trustee for_____________ (name of beneficiary other than transferor) as beneficiary and____________ as distributee on termination of the trust in absence of directionby the beneficiary under the North Carolina Uniform Custodial Trust Act, thefollowing: (Insert a description of the custodial trust property legallysufficient to identify and transfer each item of property).
Dated: ____________
______________ (Seal) ___________(Witness)
Signature
___________(Witness)
STATE OF ______ COUNTY OF______
On this ______ day of_____, ____, personally appearedbefore me, the said named ______ to me known and known to me to be the persondescribed in and who executed the foregoing instrument and he (or she)acknowledged that he (or she) executed the same and being duly sworn by me,made oath that the statements in the foregoing instrument are true.
My Commission Expires ________
________________
(Signatureof Notary Public)
NotaryPublic (Official Seal)"
(b) Any customarymethods of transferring or evidencing ownership of property may be used tocreate a custodial trust, including, but not limited to, any of the following:
(1) Registration of asecurity in the name of a trust company, an adult other than the transferor, orthe transferor if the beneficiary is other than the transferor, designated insubstance "as custodial trustee for ____________ (name of beneficiary)under the North Carolina Uniform Custodial Trust Act";
(2) Delivery of acertificated security, or a document necessary for the transfer of anuncertificated security, together with any necessary endorsement, to an adultother than the transferor or to a trust company as custodial trustee,accompanied by an instrument in substantially the form prescribed in subsection(a)(1);
(3) Payment of money ortransfer of a security held in the name of a broker or a financial institutionor its nominee to a broker or financial institution for credit to an account inthe name of a trust company, an adult other than the transferor, or thetransferor if the beneficiary is other than the transferor, designated insubstance "as custodial trustee for _____________ (name of beneficiary)under the North Carolina Uniform Custodial Trust Act";
(4) Registration ofownership of a life or endowment insurance policy or annuity contract with theissuer in the name of a trust company, an adult other than the transferor, orthe transferor if the beneficiary is other than the transferor, designated insubstance "as custodial trustee for ______________ (name of beneficiary)under the North Carolina Uniform Custodial Trust Act";
(5) Delivery of awritten assignment to an adult other than the transferor or to a trust companydesignated in the assignment in substance by the words "as custodialtrustee for __________ (name of beneficiary) under the North Carolina UniformCustodial Trust Act";
(6) Irrevocable exerciseof a power of appointment, pursuant to its terms, in favor of a trust company,an adult other than the donee of the power, or the donee who holds the power ifthe beneficiary is other than the donee, designated in the appointment insubstance "as custodial trustee for __________ (name of beneficiary) underthe North Carolina Uniform Custodial Trust Act";
(7) Delivery of awritten notification or assignment of a right to future payment under acontract to an obligor which transfers the right under the contract to a trustcompany, an adult other than the transferor, or the transferor if thebeneficiary is other than the transferor, designated in the notification orassignment in substance "as custodial trustee for ____________ (name ofbeneficiary) under the North Carolina Uniform Custodial Trust Act";
(8) Execution anddelivery of a conveyance of an interest in real property in the name of a trustcompany, an adult other than the transferor, or the transferor if thebeneficiary is other than the transferor, designated in substance "ascustodial trustee for ____________ (name of beneficiary) under the NorthCarolina Uniform Custodial Trust Act";
(9) Issuance of acertificate of title by an agency of a state or of the United States whichevidences title to tangible personal property:
a. Issued in the nameof a trust company, an adult other than the transferor, or the transferor ifthe beneficiary is other than the transferor, designated in substance "ascustodial trustee for __________ (name of beneficiary) under the North CarolinaUniform Custodial Trust Act"; or
b. Delivered to a trustcompany or an adult other than the transferor or endorsed by the transferor tothat person, designated in substance "as custodial trustee for _________(name of beneficiary) under the North Carolina Uniform Custodial TrustAct"; or
(10) Execution anddelivery of an instrument of gift to a trust company or an adult other than thetransferor, designated in substance "as custodial trustee for_______________ (name of beneficiary) under the North Carolina UniformCustodial Trust Act". (1995, c. 486, s. 1.)
§33B‑18. Methods and forms of creating custodial trusts.
(a) If a transaction(including a declaration with respect to or a transfer of specific property)otherwise satisfies applicable law, the criteria of G.S. 33B‑2 aresatisfied by:
(1) The execution andeither delivery to the custodial trustee or recording of an instrument insubstantially the following form:
"TRANSFER UNDER THE NORTH CAROLINA
UNIFORM CUSTODIAL TRUST ACT
I, __________________(name oftransferor or name and representative capacity if a fiduciary), transfer to_____________ (name of trustee other than transferor), as custodial trustee for____________ (name of beneficiary) as beneficiary and _____________ asdistributee on termination of the trust in absence of direction by the beneficiaryunder the North Carolina Uniform Custodial Trust Act, the following:
(insert a description of thecustodial trust property legally sufficient to identify and transfer each itemof property).
Dated: ______________
______________ (Seal) ___________(Witness)
Signature
___________(Witness)
STATE OF ______ COUNTY OF______
On this ______ day of_____, ____, personally appearedbefore me, the said named ______ to me known and known to me to be the persondescribed in and who executed the foregoing instrument and he (or she)acknowledged that he (or she) executed the same and being duly sworn by me,made oath that the statements in the foregoing instrument are true.
My Commission Expires ________
________________
(Signatureof Notary Public)
NotaryPublic (Official Seal)";
or
(2) The execution andthe recording or giving notice of its execution to the beneficiary of aninstrument in substantially the following form:
"DECLARATION OF TRUST UNDER THE NORTH CAROLINA
UNIFORM CUSTODIAL TRUST ACT
I, _______________(name ofowner of property,) declare that henceforth I hold as custodial trustee for_____________ (name of beneficiary other than transferor) as beneficiary and____________ as distributee on termination of the trust in absence of directionby the beneficiary under the North Carolina Uniform Custodial Trust Act, thefollowing: (Insert a description of the custodial trust property legallysufficient to identify and transfer each item of property).
Dated: ____________
______________ (Seal) ___________(Witness)
Signature
___________(Witness)
STATE OF ______ COUNTY OF______
On this ______ day of_____, ____, personally appearedbefore me, the said named ______ to me known and known to me to be the persondescribed in and who executed the foregoing instrument and he (or she)acknowledged that he (or she) executed the same and being duly sworn by me,made oath that the statements in the foregoing instrument are true.
My Commission Expires ________
________________
(Signatureof Notary Public)
NotaryPublic (Official Seal)"
(b) Any customarymethods of transferring or evidencing ownership of property may be used tocreate a custodial trust, including, but not limited to, any of the following:
(1) Registration of asecurity in the name of a trust company, an adult other than the transferor, orthe transferor if the beneficiary is other than the transferor, designated insubstance "as custodial trustee for ____________ (name of beneficiary)under the North Carolina Uniform Custodial Trust Act";
(2) Delivery of acertificated security, or a document necessary for the transfer of anuncertificated security, together with any necessary endorsement, to an adultother than the transferor or to a trust company as custodial trustee,accompanied by an instrument in substantially the form prescribed in subsection(a)(1);
(3) Payment of money ortransfer of a security held in the name of a broker or a financial institutionor its nominee to a broker or financial institution for credit to an account inthe name of a trust company, an adult other than the transferor, or thetransferor if the beneficiary is other than the transferor, designated insubstance "as custodial trustee for _____________ (name of beneficiary)under the North Carolina Uniform Custodial Trust Act";
(4) Registration ofownership of a life or endowment insurance policy or annuity contract with theissuer in the name of a trust company, an adult other than the transferor, orthe transferor if the beneficiary is other than the transferor, designated insubstance "as custodial trustee for ______________ (name of beneficiary)under the North Carolina Uniform Custodial Trust Act";
(5) Delivery of awritten assignment to an adult other than the transferor or to a trust companydesignated in the assignment in substance by the words "as custodialtrustee for __________ (name of beneficiary) under the North Carolina UniformCustodial Trust Act";
(6) Irrevocable exerciseof a power of appointment, pursuant to its terms, in favor of a trust company,an adult other than the donee of the power, or the donee who holds the power ifthe beneficiary is other than the donee, designated in the appointment insubstance "as custodial trustee for __________ (name of beneficiary) underthe North Carolina Uniform Custodial Trust Act";
(7) Delivery of awritten notification or assignment of a right to future payment under acontract to an obligor which transfers the right under the contract to a trustcompany, an adult other than the transferor, or the transferor if thebeneficiary is other than the transferor, designated in the notification orassignment in substance "as custodial trustee for ____________ (name ofbeneficiary) under the North Carolina Uniform Custodial Trust Act";
(8) Execution anddelivery of a conveyance of an interest in real property in the name of a trustcompany, an adult other than the transferor, or the transferor if thebeneficiary is other than the transferor, designated in substance "ascustodial trustee for ____________ (name of beneficiary) under the NorthCarolina Uniform Custodial Trust Act";
(9) Issuance of acertificate of title by an agency of a state or of the United States whichevidences title to tangible personal property:
a. Issued in the nameof a trust company, an adult other than the transferor, or the transferor ifthe beneficiary is other than the transferor, designated in substance "ascustodial trustee for __________ (name of beneficiary) under the North CarolinaUniform Custodial Trust Act"; or
b. Delivered to a trustcompany or an adult other than the transferor or endorsed by the transferor tothat person, designated in substance "as custodial trustee for _________(name of beneficiary) under the North Carolina Uniform Custodial TrustAct"; or
(10) Execution anddelivery of an instrument of gift to a trust company or an adult other than thetransferor, designated in substance "as custodial trustee for_______________ (name of beneficiary) under the North Carolina UniformCustodial Trust Act". (1995, c. 486, s. 1.)
§33B‑18. Methods and forms of creating custodial trusts.
(a) If a transaction(including a declaration with respect to or a transfer of specific property)otherwise satisfies applicable law, the criteria of G.S. 33B‑2 aresatisfied by:
(1) The execution andeither delivery to the custodial trustee or recording of an instrument insubstantially the following form:
"TRANSFER UNDER THE NORTH CAROLINA
UNIFORM CUSTODIAL TRUST ACT
I, __________________(name oftransferor or name and representative capacity if a fiduciary), transfer to_____________ (name of trustee other than transferor), as custodial trustee for____________ (name of beneficiary) as beneficiary and _____________ asdistributee on termination of the trust in absence of direction by the beneficiaryunder the North Carolina Uniform Custodial Trust Act, the following:
(insert a description of thecustodial trust property legally sufficient to identify and transfer each itemof property).
Dated: ______________
______________ (Seal) ___________(Witness)
Signature
___________(Witness)
STATE OF ______ COUNTY OF______
On this ______ day of_____, ____, personally appearedbefore me, the said named ______ to me known and known to me to be the persondescribed in and who executed the foregoing instrument and he (or she)acknowledged that he (or she) executed the same and being duly sworn by me,made oath that the statements in the foregoing instrument are true.
My Commission Expires ________
________________
(Signatureof Notary Public)
NotaryPublic (Official Seal)";
or
(2) The execution andthe recording or giving notice of its execution to the beneficiary of aninstrument in substantially the following form:
"DECLARATION OF TRUST UNDER THE NORTH CAROLINA
UNIFORM CUSTODIAL TRUST ACT
I, _______________(name ofowner of property,) declare that henceforth I hold as custodial trustee for_____________ (name of beneficiary other than transferor) as beneficiary and____________ as distributee on termination of the trust in absence of directionby the beneficiary under the North Carolina Uniform Custodial Trust Act, thefollowing: (Insert a description of the custodial trust property legallysufficient to identify and transfer each item of property).
Dated: ____________
______________ (Seal) ___________(Witness)
Signature
___________(Witness)
STATE OF ______ COUNTY OF______
On this ______ day of_____, ____, personally appearedbefore me, the said named ______ to me known and known to me to be the persondescribed in and who executed the foregoing instrument and he (or she)acknowledged that he (or she) executed the same and being duly sworn by me,made oath that the statements in the foregoing instrument are true.
My Commission Expires ________
________________
(Signatureof Notary Public)
NotaryPublic (Official Seal)"
(b) Any customarymethods of transferring or evidencing ownership of property may be used tocreate a custodial trust, including, but not limited to, any of the following:
(1) Registration of asecurity in the name of a trust company, an adult other than the transferor, orthe transferor if the beneficiary is other than the transferor, designated insubstance "as custodial trustee for ____________ (name of beneficiary)under the North Carolina Uniform Custodial Trust Act";
(2) Delivery of acertificated security, or a document necessary for the transfer of anuncertificated security, together with any necessary endorsement, to an adultother than the transferor or to a trust company as custodial trustee,accompanied by an instrument in substantially the form prescribed in subsection(a)(1);
(3) Payment of money ortransfer of a security held in the name of a broker or a financial institutionor its nominee to a broker or financial institution for credit to an account inthe name of a trust company, an adult other than the transferor, or thetransferor if the beneficiary is other than the transferor, designated insubstance "as custodial trustee for _____________ (name of beneficiary)under the North Carolina Uniform Custodial Trust Act";
(4) Registration ofownership of a life or endowment insurance policy or annuity contract with theissuer in the name of a trust company, an adult other than the transferor, orthe transferor if the beneficiary is other than the transferor, designated insubstance "as custodial trustee for ______________ (name of beneficiary)under the North Carolina Uniform Custodial Trust Act";
(5) Delivery of awritten assignment to an adult other than the transferor or to a trust companydesignated in the assignment in substance by the words "as custodialtrustee for __________ (name of beneficiary) under the North Carolina UniformCustodial Trust Act";
(6) Irrevocable exerciseof a power of appointment, pursuant to its terms, in favor of a trust company,an adult other than the donee of the power, or the donee who holds the power ifthe beneficiary is other than the donee, designated in the appointment insubstance "as custodial trustee for __________ (name of beneficiary) underthe North Carolina Uniform Custodial Trust Act";
(7) Delivery of awritten notification or assignment of a right to future payment under acontract to an obligor which transfers the right under the contract to a trustcompany, an adult other than the transferor, or the transferor if thebeneficiary is other than the transferor, designated in the notification orassignment in substance "as custodial trustee for ____________ (name ofbeneficiary) under the North Carolina Uniform Custodial Trust Act";
(8) Execution anddelivery of a conveyance of an interest in real property in the name of a trustcompany, an adult other than the transferor, or the transferor if thebeneficiary is other than the transferor, designated in substance "ascustodial trustee for ____________ (name of beneficiary) under the NorthCarolina Uniform Custodial Trust Act";
(9) Issuance of acertificate of title by an agency of a state or of the United States whichevidences title to tangible personal property:
a. Issued in the nameof a trust company, an adult other than the transferor, or the transferor ifthe beneficiary is other than the transferor, designated in substance "ascustodial trustee for __________ (name of beneficiary) under the North CarolinaUniform Custodial Trust Act"; or
b. Delivered to a trustcompany or an adult other than the transferor or endorsed by the transferor tothat person, designated in substance "as custodial trustee for _________(name of beneficiary) under the North Carolina Uniform Custodial TrustAct"; or
(10) Execution anddelivery of an instrument of gift to a trust company or an adult other than thetransferor, designated in substance "as custodial trustee for_______________ (name of beneficiary) under the North Carolina UniformCustodial Trust Act". (1995, c. 486, s. 1.)
