Sec. 38. (a) If a transaction, including a declaration with respect to or a transfer of specific property, otherwise satisfies applicable law, the criteria of section 18 of this chapter are satisfied by either of the following: (1) The execution and either delivery to the custodial trustee or recording of an instrument in substantially the following form: TRANSFER UNDER THE INDIANA UNIFORM CUSTODIAL TRUST ACT I, _______________ (name of transferor or name and representative capacity if a fiduciary), transfer to _______________ (name of trustee other than transferor), as custodial trustee for _______________ (name of beneficiary) as beneficiary and ______________ as distributee on termination of the trust in absence of direction by the beneficiary under the Indiana uniform custodial trust act, the following: (insert a description of the custodial trust property legally sufficient to identify and transfer each item of property). Dated: _______________________ ______________________________ (Signature) (2) The execution and the recording or giving notice of its execution to the beneficiary of an instrument in substantially the following form: DECLARATION OF TRUST UNDER THE INDIANA UNIFORM CUSTODIAL TRUST ACT I, _______________ (name of owner of property), declare that henceforth I hold as custodial trustee for _______________ (name of beneficiary other than transferor) as beneficiary and _______________ as distributee on termination of the trust in absence of direction by the beneficiary under the Indiana uniform custodial trust act, the following: (Insert a description of the custodial trust property legally sufficient to identify and transfer each item of property). Dated: _______________________ ______________________________ (Signature) (b) Customary methods of transferring or evidencing ownership of property may be used to create a custodial trust, including any of the following: (1) Registration of a security in the name of: (A) a trust company; (B) an adult other than the transferor; or (C) the transferor if the beneficiary is other than the transferor; designated in substance "as custodial trustee for _______________ (name of beneficiary) under the Indiana uniform custodial trust act". (2) Delivery of: (A) a certificated security, or a document necessary for the transfer of an uncertificated security; and (B) any necessary endorsement; to an adult other than the transferor or to a trust company as custodial trustee, accompanied by an instrument in substantially the form prescribed in subsection (a)(1). (3) Payment of money or transfer of a security held in the name of a broker or a financial institution or its nominee to a broker or financial institution for credit to an account in the name of: (A) a trust company; (B) an adult other than the transferor; or (C) the transferor if the beneficiary is other than the transferor; designated in substance: "as custodial trustee for _______________ (name of beneficiary) under the Indiana uniform custodial trust act". (4) Registration of ownership of a life or endowment insurance policy or annuity contract with the issuer in the name of: (A) a trust company; (B) an adult other than the transferor; or (C) the transferor if the beneficiary is other than the transferor; designated in substance: "as custodial trustee for _______________ (name of beneficiary) under the Indiana uniform custodial trust act". (5) Delivery of a written assignment to: (A) an adult other than the transferor; or (B) a trust company; whose name in the assignment is designated in substance by the words: "as custodial trustee for _______________ (name of beneficiary) under the Indiana uniform custodial trust act". (6) Irrevocable exercise of a power of appointment, pursuant to its terms, in favor of: (A) a trust company; (B) an adult other than the donee of the power; or (C) the donee who holds the power if the beneficiary is other than the donee; whose name in the appointment is designated in substance: "as custodial trustee for _______________ (name of beneficiary) under the Indiana uniform custodial trust act". (7) Delivery of a written notification or assignment of a right to future payment under a contract to an obligor that transfers the right under the contract to: (A) a trust company; (B) an adult other than the transferor; or (C) the transferor if the beneficiary is other than the transferor; whose name in the notification or assignment is designated in substance: "as custodial trustee for _______________ (name of beneficiary) under the Indiana uniform custodial trust act". (8) Execution, delivery, and recordation of a conveyance of an interest in real property in the name of: (A) a trust company; (B) an adult other than the transferor; or (C) the transferor if the beneficiary is other than the transferor; designated in substance: "as custodial trustee for _______________ (name of beneficiary) under the Indiana uniform custodial trust act". (9) Issuance of a certificate of title by an agency of a state or of the United States that evidences title to tangible personal property: (A) issued in the name of: (i) a trust company; (ii) an adult other than the transferor; or (iii) the transferor if the beneficiary is other than the transferor; designated in substance: "as custodial trustee for _______________ (name of beneficiary) under the Indiana uniform custodial trust act"; or (B) delivered to: (i) a trust company; or (ii) an adult other than the transferor or endorsed by the transferor to that person; designated in substance: "as custodial trustee for _______________ (name of beneficiary) under the Indiana uniform custodial trust act". (10) Execution and delivery of an instrument of gift to: (A) a trust company; or (B) an adult other than the transferor; designated in substance: "as custodial trustee for _______________ (name of beneficiary) under the Indiana uniform custodial trust act".
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