North Dakota § 47-24.1-07 Transfer by obligor

North Dakota Statutes

§ 47-24.1-07 — Transfer by obligor

North Dakota § 47-24.1-07

Title 47Property

Ch. 47-24.1Uniform Transfers to Minors Act

This text of North Dakota § 47-24.1-07 (Transfer by obligor) is published on Counsel Stack Legal Research, covering North Dakota primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.D. Cent. Code § 47-24.1-07 (2026).

Text

1.Subject to subsections 2 and 3, a person not subject to section 47-24.1-05 or 47-24.1-06 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 47-24.1-09.

2.If a person having the right to do so under section 47-24.1-03 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 47-24.1-03, 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

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1. Subject to subsections 2 and 3, a person not subject to section 47-24.1-05 or
47-24.1-06 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 47-24.1-09.

2. If a person having the right to do so under section 47-24.1-03 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 47-24.1-03, 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.