38-1708. Transfer by obligor. - Kansas Statutes

38-1708

Chapter 38.--MINORS Article 17.--UNIFORM TRANSFERS TO MINORS ACT

      38-1708.   Transfer by obligor.(a) Subject to subsections (b) and(c), a person not subject to K.S.A. 38-1706 or 38-1707 who holdsproperty of or owes aliquidated debt to a minor not having a conservator may make an irrevocabletransfer to a custodian for the benefit of the minor pursuant to K.S.A.38-1710.

      (b)   If a person having the right to do so under K.S.A. 38-1704has nominateda custodian under that section to receive the custodial property, thetransfer must be made to that person.

      (c)   If no custodian has been nominated under K.S.A. 38-1704, or all personsso nominated as custodian die before the transfer or are unable, decline,or are ineligible to serve, a transfer under this section may be made to anadult member of the minor's family or to a trust company unless theproperty exceeds $10,000 in value.

      History:   L. 1985, ch. 143, § 7; July 1.