§ 31-54. Renunciation, resignation, death, or removal of custodian;designation of successor custodian.
A. A person nominated under § 31-39 or designated under § 31-45 as custodianmay decline to serve by delivering written notice to the person who made thenomination or to the transferor or the transferor's legal representative. Ifthe event giving rise to a transfer has not occurred and no substitutecustodian able, willing, and eligible to serve was nominated under § 31-39,the person who made the nomination may nominate a substitute custodian under§ 31-39. Otherwise, the transferor or the transferor's legal representativeshall designate a substitute custodian at the time of the transfer. In eithercase the nomination or designation shall be made from among the personseligible to serve as custodian for that kind of property under § 31-45 A. Thecustodian so designated has the rights of a successor custodian.
B. A custodian at any time may designate a trust company or an adult otherthan a transferor under § 31-40 as successor custodian by executing anddating an instrument of designation before a subscribing witness other thanthe successor. If the instrument of designation does not contain or is notaccompanied by the resignation of the custodian, the designation of thesuccessor does not take effect until the custodian resigns, dies or becomesincapacitated.
C. A custodian may resign at any time by (i) delivering written notice to theminor, if the minor has attained the age of fourteen years, and to thesuccessor custodian and (ii) delivering the custodial property to thesuccessor custodian.
D. If a custodian is ineligible, dies, or becomes incapacitated withouthaving effectively designated a successor and the minor has attained the ageof fourteen years, the minor may designate as successor custodian, in themanner prescribed in subsection B, an adult member of the minor's family, aconservator of the minor, or a trust company. If the minor has not attainedthe age of fourteen years or fails to act within sixty days after theineligibility, death, or incapacity, the conservator of the minor becomessuccessor custodian. If the minor has no conservator or the conservatordeclines to act, the transferor, the legal representative of the transferoror of the custodian, an adult member of the minor's family, or any otherinterested person may petition the court to designate a successor custodian.
E. A custodian who declines to serve under subsection A or resigns undersubsection C, or the legal representative of a deceased or incapacitatedcustodian shall, as soon as practicable, put the custodial property andrecords in the possession and control of the successor custodian. Thesuccessor custodian by action may enforce the obligation to deliver custodialproperty and records and becomes responsible for each item as received.
F. A transferor, the legal representative of a transferor, an adult member ofthe minor's family, a guardian of the person of the minor, the conservator ofthe minor, or the minor, if the minor has attained the age of fourteen years,may petition the court to (i) remove the custodian for cause and to designatea successor custodian other than a transferor under § 31-40, or (ii) requirethe custodian to give appropriate bond.
§ 31-54. Renunciation, resignation, death, or removal of custodian;designation of successor custodian.
A. A person nominated under § 31-39 or designated under § 31-45 as custodianmay decline to serve by delivering written notice to the person who made thenomination or to the transferor or the transferor's legal representative. Ifthe event giving rise to a transfer has not occurred and no substitutecustodian able, willing, and eligible to serve was nominated under § 31-39,the person who made the nomination may nominate a substitute custodian under§ 31-39. Otherwise, the transferor or the transferor's legal representativeshall designate a substitute custodian at the time of the transfer. In eithercase the nomination or designation shall be made from among the personseligible to serve as custodian for that kind of property under § 31-45 A. Thecustodian so designated has the rights of a successor custodian.
B. A custodian at any time may designate a trust company or an adult otherthan a transferor under § 31-40 as successor custodian by executing anddating an instrument of designation before a subscribing witness other thanthe successor. If the instrument of designation does not contain or is notaccompanied by the resignation of the custodian, the designation of thesuccessor does not take effect until the custodian resigns, dies or becomesincapacitated.
C. A custodian may resign at any time by (i) delivering written notice to theminor, if the minor has attained the age of fourteen years, and to thesuccessor custodian and (ii) delivering the custodial property to thesuccessor custodian.
D. If a custodian is ineligible, dies, or becomes incapacitated withouthaving effectively designated a successor and the minor has attained the ageof fourteen years, the minor may designate as successor custodian, in themanner prescribed in subsection B, an adult member of the minor's family, aconservator of the minor, or a trust company. If the minor has not attainedthe age of fourteen years or fails to act within sixty days after theineligibility, death, or incapacity, the conservator of the minor becomessuccessor custodian. If the minor has no conservator or the conservatordeclines to act, the transferor, the legal representative of the transferoror of the custodian, an adult member of the minor's family, or any otherinterested person may petition the court to designate a successor custodian.
E. A custodian who declines to serve under subsection A or resigns undersubsection C, or the legal representative of a deceased or incapacitatedcustodian shall, as soon as practicable, put the custodial property andrecords in the possession and control of the successor custodian. Thesuccessor custodian by action may enforce the obligation to deliver custodialproperty and records and becomes responsible for each item as received.
F. A transferor, the legal representative of a transferor, an adult member ofthe minor's family, a guardian of the person of the minor, the conservator ofthe minor, or the minor, if the minor has attained the age of fourteen years,may petition the court to (i) remove the custodian for cause and to designatea successor custodian other than a transferor under § 31-40, or (ii) requirethe custodian to give appropriate bond.
§ 31-54. Renunciation, resignation, death, or removal of custodian;designation of successor custodian.
A. A person nominated under § 31-39 or designated under § 31-45 as custodianmay decline to serve by delivering written notice to the person who made thenomination or to the transferor or the transferor's legal representative. Ifthe event giving rise to a transfer has not occurred and no substitutecustodian able, willing, and eligible to serve was nominated under § 31-39,the person who made the nomination may nominate a substitute custodian under§ 31-39. Otherwise, the transferor or the transferor's legal representativeshall designate a substitute custodian at the time of the transfer. In eithercase the nomination or designation shall be made from among the personseligible to serve as custodian for that kind of property under § 31-45 A. Thecustodian so designated has the rights of a successor custodian.
B. A custodian at any time may designate a trust company or an adult otherthan a transferor under § 31-40 as successor custodian by executing anddating an instrument of designation before a subscribing witness other thanthe successor. If the instrument of designation does not contain or is notaccompanied by the resignation of the custodian, the designation of thesuccessor does not take effect until the custodian resigns, dies or becomesincapacitated.
C. A custodian may resign at any time by (i) delivering written notice to theminor, if the minor has attained the age of fourteen years, and to thesuccessor custodian and (ii) delivering the custodial property to thesuccessor custodian.
D. If a custodian is ineligible, dies, or becomes incapacitated withouthaving effectively designated a successor and the minor has attained the ageof fourteen years, the minor may designate as successor custodian, in themanner prescribed in subsection B, an adult member of the minor's family, aconservator of the minor, or a trust company. If the minor has not attainedthe age of fourteen years or fails to act within sixty days after theineligibility, death, or incapacity, the conservator of the minor becomessuccessor custodian. If the minor has no conservator or the conservatordeclines to act, the transferor, the legal representative of the transferoror of the custodian, an adult member of the minor's family, or any otherinterested person may petition the court to designate a successor custodian.
E. A custodian who declines to serve under subsection A or resigns undersubsection C, or the legal representative of a deceased or incapacitatedcustodian shall, as soon as practicable, put the custodial property andrecords in the possession and control of the successor custodian. Thesuccessor custodian by action may enforce the obligation to deliver custodialproperty and records and becomes responsible for each item as received.
F. A transferor, the legal representative of a transferor, an adult member ofthe minor's family, a guardian of the person of the minor, the conservator ofthe minor, or the minor, if the minor has attained the age of fourteen years,may petition the court to (i) remove the custodian for cause and to designatea successor custodian other than a transferor under § 31-40, or (ii) requirethe custodian to give appropriate bond.
