§ 9-26-220 - Termination of custodianship. - Arkansas Statutes

9-26-220. Termination of custodianship.

The custodian shall transfer in an appropriate manner the custodial property to the minor or to the minor's estate upon the earlier of:

(1) the minor's attainment of twenty-one (21) years of age with respect to custodial property transferred under 9-26-204 or 9-26-205, except that any transferor may have custodial property transferred to the minor at any time after the age of eighteen (18) years and before twenty-one (21) years by a designation in the following words or their equivalent: "The custodian shall transfer this property to .... (name of minor) when .... (he or she) reaches the age of ......... (age, after eighteen (18) years and before twenty-one (21) years, at which transfer takes place)";

(2) the minor's attainment of age eighteen (18) years with respect to custodial property transferred under 9-26-206 or 9-26-207; or

(3) the minor's death.