§ 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.

Legislative History

Acts 1985, No. 476, § 20; A.S.A. 1947, § 50-953