A gift made in the manner prescribed in this act is irrevocable and conveys to the minor an indefeasible vested legal title to the security, life insurance or endowment policy, annuity contract, money, tangible personal property, interest in a partnership or general partnership.
N.J. Stat. Ann. § 46:38-17
Effect of custodial gift
Known as the New Jersey Uniform Gifts to Minors Act
The act spans §§ 46:38-13 to 46:38-41 (31 sections).
L. 1963, c. 177, s. 5
Current official text: New Jersey Legislature. Digitized from the New Jersey Legislature bulk statutes download. Reproduced from public-domain New Jersey statutes; confirm against the official source for the current text. Not legal advice.