75-5a-106 - Transfer authorized by will or trust. - Utah Statutes

75-5a-106. Transfer authorized by will or trust.
(1) A personal representative or trustee may make an irrevocable transfer under Section75-5a-110 to a custodian for the benefit of a minor as authorized in the governing will or trust.
(2) If the testator or settlor has nominated a custodian under Section 75-5a-104 to receivethe custodial property, the transfer must be made to that person.
(3) If the testator or settlor has not nominated a custodian under Section 75-5a-104, or allpersons nominated as custodian die before the transfer or are unable, decline, or are ineligible toserve, the personal representative or the trustee, as the case may be, shall designate the custodianfrom among those eligible to serve as custodian for property of that kind under Subsection75-5a-110(1).

Enacted by Chapter 272, 1990 General Session