(1) Subject to subsections (2) and (3), a person not subject to Section 91-20-11 or 91-20-13 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 91-20-19 . (2) If a person having the right to do so under Section 91-20-7 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 91-20-7 , 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 ($10,000.00) in value. Laws, 1994, ch. 416, § 8, eff. 1/1/1995. (1) Subject to subsections (2) and (3), a person not subject to Section 91-20-11 or 91-20-13 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 91-20-19 . (2) If a person having the right to do so under Section 91-20-7 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 91-20-7 , 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 ($10,000.00) in value. Laws, 1994, ch. 416, § 8, eff. 1/1/1995. (1) Subject to subsections (2) and (3), a person not subject to Section 91-20-11 or 91-20-13 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 91-20-19 . (2) If a person having the right to do so under Section 91-20-7 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 91-20-7 , 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 ($10,000.00) in value. Laws, 1994, ch. 416, § 8, eff. 1/1/1995. (1) Subject to subsections (2) and (3), a person not subject to Section 91-20-11 or 91-20-13 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 91-20-19 . (2) If a person having the right to do so under Section 91-20-7 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 91-20-7 , 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 ($10,000.00) in value. Laws, 1994, ch. 416, § 8, eff. 1/1/1995.
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