Colorado § 11-50-108 Transfer by obligor

Colorado Statutes

§ 11-50-108 — Transfer by obligor

Colorado·Title 11 Financial·Art. Colorado Uniform Transfers to Minors Act

(1)Subject to subsections (2) and (3) of this section, a person not subject to section 11-50-106 or 11-50-107 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 section 11-50-110.

(2)If a person having the right to do so under section 11-50-104 has nominated a custodian under that section to receive the custodial property, the transfer must be made to that person.

(3)If no custodian has been nominated under section 11-50-104, or all persons so 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 an adult member of the minor's family or to a trust company unless the p

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(1) Subject to subsections (2) and (3) of this
section, a person not subject to section 11-50-106 or 11-50-107 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 section
11-50-110.

(2) If a person having the right to do so under section 11-50-104 has
nominated a custodian under that section to receive the custodial property, the
transfer must be made to that person.

(3) If no custodian has been nominated under section 11-50-104, or all
persons so 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 an adult
member of the minor's family or to a trust company unless the property exceeds
ten thousand dollars in value.

Colorado § 11-50-108 (Transfer by obligor) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.