46:38A-7 - When custodianship becomes effective under revocable nomination of custodian - New Jersey Statutes

46:38A-7.    When custodianship becomes effective under revocable nomination of custodian
    The nomination of a custodian under R.S. 46:38A-6 does not create custodial property until the nominating instrument becomes irrevocable or a transfer to the nominated custodian is completed under R.S. 46:38A-19. Unless the nomination of a custodian has been revoked, upon the occurrence of the future event the custodianship becomes effective and the custodian shall enforce a transfer of the custodial property pursuant to R.S. 46:38A-19.

   L. 1987, c. 18, s. 1.