If a custodian has not been nominated under R.S. 46:38A-6, or all persons so nominated as custodian to receive custodial property under R.S. 46:38A-15 die before the transfer or are unable, decline, or are ineligible to serve, a transfer under R.S. 46:38A-15 may be made to an adult member of the minor's family or to a trust company unless the property exceeds $10,000.00 in value.
N.J. Stat. Ann. § 46:38A-17
Transfer by obligor; custodian not nominated or dead, etc
Known as the New Jersey Uniform Transfers to Minors Act
The act spans §§ 46:38A-1 to 46:38A-9 (57 sections).
L. 1987, c. 18, s. 1.
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.