167.029 - Transfer by debtor or person holding property of minor. - Nevada Statutes

167.029  Transfer by debtor or person holding property of minor.

      1.  A person not subject to NRS 167.025 or 167.027 who holds property of or owes a liquidated debt to a minor not having a conservator may make an irrevocable transfer to a custodian for the benefit of the minor pursuant to the provisions of this chapter.

      2.  If a person has nominated a custodian under NRS 167.033 to receive the custodial property, the transfer must be made to that person.

      3.  If no custodian has been nominated, or if all persons so nominated die before the transfer or are unable, decline or are ineligible to serve, a transfer under this section may be made to an adult member of the minor’s family or to a trust company, unless the property exceeds $10,000 in value.

      (Added to NRS by 1985, 67)