A written acknowledgment of delivery by a custodian constitutes a sufficient receipt and
discharge for custodial property transferred to the custodian pursuant to this chapter.
47-24.1-09. Manner of creating custodial property and effecting transfer - Designation
of initial custodian - Control.
1. Custodial property is created and a transfer is made whenever:
a. An uncertificated security or a certificated security in registered form is either:
(1)Registered in the name of the transferor, an adult other than the transferor,
or a trust company, followed in substance by the words: "as custodian for
__________ (name of minor) under the North Dakota Uniform Transfers to
Minors Act"; or
(2)Delivered if in certificated form, or any document necessary for the transfer
of an uncertificated secur
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A written acknowledgment of delivery by a custodian constitutes a sufficient receipt and
discharge for custodial property transferred to the custodian pursuant to this chapter.
47-24.1-09. Manner of creating custodial property and effecting transfer - Designation
of initial custodian - Control.
1. Custodial property is created and a transfer is made whenever:
a. An uncertificated security or a certificated security in registered form is either:
(1) Registered in the name of the transferor, an adult other than the transferor,
or a trust company, followed in substance by the words: "as custodian for
__________ (name of minor) under the North Dakota Uniform Transfers to
Minors Act"; or
(2) Delivered if in certificated form, or any document necessary for the transfer
of an uncertificated security is delivered, together with any necessary
endorsement to an adult other than the transferor or to a trust company as
custodian, accompanied by an instrument in substantially the form set forth
in subsection 2;
b. Money is paid or delivered, or a security held in the name of a broker, financial
institution, or its nominee is transferred, to a broker or financial institution for
credit to an account in the name of the transferor, an adult other than the
transferor, or a trust company, followed in substance by the words: "as custodian
for __________ (name of minor) under the North Dakota Uniform Transfers to
Minors Act";
c. The ownership of a life or endowment insurance policy or annuity contract is
either:
(1) Registered with the issuer in the name of the transferor, an adult other than
the transferor, or a trust company, followed in substance by the words: "as
custodian for __________ (name of minor) under the North Dakota Uniform
Transfers to Minors Act"; or
(2) Assigned in a writing delivered to an adult other than the transferor, or to a
trust company, whose name in the assignment is followed in substance by
the words: "as custodian for __________ (name of minor) under the North
Dakota Uniform Transfers to Minors Act";
d. An irrevocable exercise of a power of appointment or an irrevocable present right
to future payment under a contract is the subject of a written notification delivered
to the payor, issuer, or other obligor that the right is transferred to the transferor,
an adult other than the transferor, or a trust company, whose name in the
notification is followed in substance by the words: "as custodian for __________
(name of minor) under the North Dakota Uniform Transfers to Minors Act";
e. An interest in real property is recorded in the name of the transferor, an adult
other than the transferor, or a trust company, followed in substance by the words:
"as custodian for __________ (name of minor) under the North Dakota Uniform
Transfers to Minors Act";
f. A certificate of title issued by a department or agency of a state or of the United
States which evidences title to tangible personal property is either:
(1) Issued in the name of the transferor, an adult other than the transferor, or a
trust company, followed in substance by the words: "as custodian for
__________ (name of minor) under the North Dakota Uniform Transfers to
Minors Act"; or
(2) Delivered to an adult other than the transferor, or to a trust company,
endorsed to that person followed in substance by the words: "as custodian
for __________ (name of minor) under the North Dakota Uniform Transfers
to Minors Act"; or
g. An interest in any property not described in subdivisions a through f is transferred
to an adult other than the transferor, or to a trust company, by a written instrument
in substantially the form set forth in subsection 2.
2. An instrument in the following form satisfies the requirements of paragraph 2 of
subdivision a and subdivision g of subsection 1:
"TRANSFER UNDER THE NORTH DAKOTA UNIFORM
TRANSFERS TO MINORS ACT
I, __________ (name of transferor or name and representative capacity if a
fiduciary) hereby transfer to __________ (name of custodian), as custodian for
__________ (name of minor) under the North Dakota Uniform Transfers to Minors Act,
the following: (insert a description of the custodian property sufficient to identify it).
Dated: _________________________
________________________________
(Signature)
_________ (name of custodian) acknowledges receipt of the property described above
as custodian for the minor named above under the North Dakota Uniform Transfers to
Minors Act.
Dated: _________________________
________________________________
(Signature of Custodian)"
3. A transferor shall place the custodian in control of the custodial property as soon as
practicable.