1. 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: "as custodian for ................ (name of minor) under Nevada’s Uniform Act on Transfers to Minors." The nomination may name one or more persons as substitute custodians to whom the property must be transferred, in the order named, if the first nominated custodian dies before the transfer or is unable, declines or is ineligible to serve. The nomination may be made in a will, a trust, a deed, an instrument exercising a power of appointment, or in a writing designating a beneficiary of contractual rights which is registered with or delivered to the payor, issuer or other obligor of the contractual rights.
2. A custodian nominated under this section must be a person to whom a transfer of property of that kind may be made under subsection 1 of NRS 167.030.
3. 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 the provisions of this chapter. Unless the nomination of a custodian has been revoked, upon the occurrence of the future event, the custodianship becomes effective and the custodian shall enforce a transfer of the custodial property pursuant to the provisions of this chapter.
(Added to NRS by 1985, 66)
Structure Nevada Revised Statutes
Chapter 167 - Transfers to Minors (Uniform Act)
NRS 167.021 - Applicability; custodian subject to personal jurisdiction.
NRS 167.023 - Transfer by gift or exercise of power of appointment.
NRS 167.025 - Transfer authorized in will or trust.
NRS 167.027 - Transfer not authorized in will or trust; transfer by conservator.
NRS 167.029 - Transfer by debtor or person holding property of minor.
NRS 167.030 - Creation of custodial property; manner of making transfer.
NRS 167.033 - Nomination of custodian to serve upon future event.
NRS 167.034 - Delay of time for certain transfers; requirements.
NRS 167.035 - Validity of transfer.
NRS 167.040 - Effect of transfer.
NRS 167.043 - Acknowledgment of delivery of custodial property.
NRS 167.045 - Rights of custodian.
NRS 167.050 - Duties and powers of custodian.
NRS 167.055 - Delivery, payment or expenditure of custodial property for benefit of minor.
NRS 167.060 - Expenses, compensation and bond of custodian.
NRS 167.070 - Exemption of third persons from liability.
NRS 167.085 - Claims against custodial property; liability of custodian and minor.