South Dakota § 55-10A-7 Transfer by obligor.

South Dakota Statutes

§ 55-10A-7 — Transfer by obligor.

South Dakota § 55-10A-7

Title 55FIDUCIARIES AND TRUSTS

Ch. 55-10AUNIFORM TRANSFERS TO MINORS ACT

This text of South Dakota § 55-10A-7 (Transfer by obligor.) is published on Counsel Stack Legal Research, covering South Dakota primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

S.D. Codified Laws § 55-10A-7 (2026).

Text

Subject to subdivisions (1) and (2), any person not subject to § 55-10A-5 or 55-10A-6 , 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 § 55-10A-9 :

(1)If a person having the right to do so under § 55-10A-3 , has nominated a custodian under that section to receive the custodial property, the transfer must be made to that person; or (2) If no custodian has been nominated under § 55-10A-3 , 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 val

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Subject to subdivisions (1) and (2), any person not subject to § 55-10A-5 or 55-10A-6 , 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 § 55-10A-9 : (1) If a person having the right to do so under § 55-10A-3 , has nominated a custodian under that section to receive the custodial property, the transfer must be made to that person; or (2) If no custodian has been nominated under § 55-10A-3 , 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.