§ 47-24.1-18 — Renunciation, resignation, death, or removal of custodian - Designation of successor custodian

North Dakota § 47-24.1-18

• Jurisdiction: North Dakota
• Title 47: Property
• Ch. 47-24.1: Uniform Transfers to Minors Act

Text

successor custodian.
1. A person nominated under section 47-24.1-03 or designated under section 47-24.1-09
as custodian may decline to serve by delivering a valid disclaimer under chapter
30.1-10.1 to the person who made the nomination or to the transferor or the
transferor's legal representative. If the event giving rise to a transfer has not occurred
and no substitute custodian able, willing, and eligible to serve was nominated under
section 47-24.1-03, the person who made the nomination may nominate a substitute
custodian under section 47-24.1-03; otherwise the transferor or the transferor's legal
representative shall designate a substitute custodian at the time of the transfer, in
either case from among the persons eligible to serve as custodian for that kind of
property under subsection 1 of section 47-24.1-09. The custodian so designated has
the rights of a successor custodian.
2. A custodian at any time may designate a trust company or an adult other than a
transferor under section 47-24.1-04 as successor custodian by executing and dating

an instrument of designation before a subscribing witness other than the successor. If
the instrument of designation does not contain or is not accompanied by the
resignation of the custodian, the designation of the successor does not take effect until
the custodian resigns, dies, becomes incapacitated, or is removed.
3. A custodian may resign at any time by delivering written notice to the minor if the minor
has attained the age of fourteen years and to the successor custodian and by
delivering the custodial property to the successor custodian.
4. If a custodian is ineligible, dies, or becomes incapacitated without having effectively
designated a successor and the minor has attained the age of fourteen years, the
minor may designate as successor custodian, in the manner prescribed in subsection
2, an adult member of the minor's family, a conservator of the minor, or a trust
company. If the minor has not attained the age of fourteen years or fails to act within
sixty days after the ineligibility, death, or incapacity, the conservator of the minor
becomes successor custodian. If the minor has no conservator or the conservator
declines to act, the transferor, the legal representative of the transferor or of the
custodian, an adult member of the minor's family, or any other interested person may
petition the court to designate a successor custodian.
5. A custodian who declines to serve under subsection 1 or resigns under subsection 3,
or the legal representative of a deceased or incapacitated custodian, as soon as
practicable, shall put the custodian's property and records in the possession and
control of the successor custodian. The successor custodian by action may enforce
the obligation to deliver custodial property and records and becomes responsible for
each item as received.
6. A transferor, the legal representative of a transferor, an adult member of the minor's
family, a guardian of the person of the minor, the conservator of the minor, or the minor
if the minor has attained the age of fourteen years may petition the court to remove the
custodian for cause and to designate a successor custodian other than a transferor
under section 47-24.1-04 or to require the custodian to give appropriate bond.