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§58-1208.


§58-1208.
   
   A. Subject to the provisions of subsections B and C of this section, a
   person not subject to the provisions of Sections 6 or 7 of this act
   who holds property of or owes a liquidated debt to a minor not having
   a guardian may make an irrevocable transfer to a custodian for the
   benefit of the minor pursuant to the provisions of Section 10 of this
   act.
   
   B. If a person having the right to do so pursuant to the provisions of
   Section 4 of this act has nominated a custodian according to the
   provisions of Section 4 of this act to receive the custodial property,
   the transfer must be made to that person.
   
   C. If no custodian has been nominated pursuant to the provisions of
   Section 4 of this act, or all persons nominated as custodian die
   before the transfer or are unable, decline, or are ineligible to
   serve, a transfer pursuant to the provisions of this section may be
   made to an adult member of the minor's family or to a trust company,
   unless the property exceeds Ten Thousand Dollars ($10,000.00) in
   value.
   

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