A donor of a custodial gift shall promptly do all things within his power to put the subject of the gift in the possession and control of the custodian, but neither the donor's failure to comply with this section, nor his designation of an ineligible person as custodian, nor renunciation by the person designated as custodian affects the consummation of the gift.
N.J. Stat. Ann. § 46:38-24
Placing subject of gift in possession and control of custodian
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. 12
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.