38-1708. Transfer by obligor.
38-1708
38-1708. Transfer by obligor.(a) Subject to subsections (b) and(c), a person not subject to K.S.A. 38-1706 or 38-1707 who holdsproperty of or owes aliquidated debt to a minor not having a conservator may make an irrevocabletransfer to a custodian for the benefit of the minor pursuant to K.S.A.38-1710.
(b) If a person having the right to do so under K.S.A. 38-1704has nominateda custodian under that section to receive the custodial property, thetransfer must be made to that person.
(c) If no custodian has been nominated under K.S.A. 38-1704, or all personsso 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 anadult member of the minor's family or to a trust company unless theproperty exceeds $10,000 in value.
History: L. 1985, ch. 143, § 7; July 1.