(a) A personal representative or trustee may make an irrevocable transfer pursuant to section 527.29 to a custodian for the benefit of a minor as authorized in the governing will or trust.
(b) If the testator or settlor has nominated a custodian under section 527.23 to receive the custodial property, the transfer must be made to that person.
(c) If the testator or settlor has not nominated a custodian under section 527.23, or all persons so nominated as custodian die before the transfer or are unable, decline, or are ineligible to serve, the personal representative or the trustee, as the case may be, shall designate the custodian from among those eligible to serve as custodian for property of that kind under section 527.29, paragraph (a).
1985 c 221 s 5
Structure Minnesota Statutes
Chapters 524 - 532 — Probate; Property; Estates; Guardianships; Anatomical Gifts
Chapter 527 — Uniform Transfers To Minors Act
Section 527.22 — Scope And Jurisdiction.
Section 527.23 — Nomination Of Custodian.
Section 527.24 — Transfer By Gift Or Exercise Of Power Of Appointment.
Section 527.25 — Transfer Authorized By Will Or Trust.
Section 527.26 — Other Transfer By Fiduciary.
Section 527.27 — Transfer By Obligor.
Section 527.28 — Receipt For Custodial Property.
Section 527.30 — Single Custodianship.
Section 527.31 — Validity And Effect Of Transfer.
Section 527.32 — Care Of Custodial Property.
Section 527.33 — Powers Of Custodian.
Section 527.34 — Use Of Custodial Property.
Section 527.35 — Custodian's Expenses, Compensation, And Bond.
Section 527.36 — Exemption Of Third Person From Liability.
Section 527.37 — Liability To Third Persons.
Section 527.39 — Accounting By And Determination Of Liability Of Custodian.
Section 527.40 — Transfer Upon Termination Of Custodianship.
Section 527.405 — Conveyance By Custodian.
Section 527.41 — Applicability.
Section 527.42 — Effect On Existing Custodianships.