(2) If a person having the right to do so under ORS 126.812 has nominated a custodian under that section to receive the custodial property, the transfer must be made to that person.
(3) If no custodian has been nominated under ORS 126.812 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 $5,000 in value. [1985 c.665 §8]
Structure 2021 Oregon Revised Statutes
Volume : 03 - Landlord-Tenant, Domestic Relations, Probate
Chapter 126 - Property Held for the Benefit of Minors; Uniform Transfers to Minors Act
Section 126.700 - Payment or delivery for benefit of minor.
Section 126.730 - Payment of moneys to minor pursuant to judgment; payment or deposit; disbursement.
Section 126.805 - Definitions for ORS 126.805 to 126.886.
Section 126.809 - Applicability of ORS 126.805 to 126.886; jurisdiction over custodian.
Section 126.819 - Irrevocable transfer by personal representative or trustee to custodian.
Section 126.822 - Transfer to custodian in absence of authorization.
Section 126.832 - Creation and transfer of custodial property; form of instrument.
Section 126.836 - Limitations on custodianship; age requirement for transfers.
Section 126.839 - Validity of transfer.
Section 126.842 - Duties of custodian; standard of care.
Section 126.846 - Rights, powers and authority of custodian.
Section 126.852 - Reimbursement to custodian for reasonable expenses; compensation; bond.
Section 126.857 - Third person’s duties in dealing with custodian.
Section 126.859 - Claims against custodial property; liability of custodian and beneficiary.
Section 126.866 - Petition for accounting by custodian, determination of responsibility.
Section 126.869 - Time of transfer of custodial property to beneficiary or beneficiary’s estate.
Section 126.872 - Delayed transfer of custodial property to beneficiary.
Section 126.877 - Applicability of ORS 126.805 to 126.886 to transfers made after January 1, 1986.
Section 126.879 - Validation of transfer made before January 1, 1986.