§ 9-26-207 - Transfer by obligor.
9-26-207. Transfer by obligor.
(a) Subject to subsections (b) and (c) of this section, a person not subject to 9-26-205 or 9-26-206 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 9-26-209.
(b) If a person having the right to do so under 9-26-203 has nominated a custodian under that section to receive the custodial property, the transfer must be made to that person.
(c) If no custodian has been nominated under 9-26-203, 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) in value.