(a) A person having the right to designate the recipient of property transferable upon the occurrence of a future event may revocably nominate a custodian to receive the property for a minor beneficiary upon the occurrence of the event by naming the custodian followed in substance by the words:
(b) A custodian nominated under this section must be a person to whom a transfer of property of that kind may be made under § 4509(a) of this title.
(c) The nomination of a custodian under this section does not create custodial property until the nominating instrument becomes irrevocable or a transfer to the nominated custodian is completed under § 4509 of this title. Unless the nomination of a custodian has been revoked, upon the occurrence of the future event the custodianship becomes effective and the custodian shall enforce a transfer of the custodial property pursuant to § 4509 of this title.
Structure Delaware Code
Title 12 - Decedents' Estates and Fiduciary Relations
Chapter 45. DELAWARE UNIFORM TRANSFERS TO MINORS ACT
§ 4502. Scope and jurisdiction.
§ 4503. Nomination of custodian.
§ 4504. Transfer by gift or exercise of power of appointment.
§ 4505. Transfer authorized by will or trust.
§ 4506. Other transfer by fiduciary.
§ 4508. Receipt for custodial property.
§ 4511. Validity and effect of transfer.
§ 4512. Care of custodial property.
§ 4514. Use of custodial property.
§ 4515. Custodian's expenses, compensation and bond.
§ 4516. Exemption of third person from liability.
§ 4517. Liability to third persons.
§ 4519. Accounting by and determination of liability of custodian.
§ 4520. Termination of custodianship.