33A-20. Termination of custodianship.
The custodian shall transfer in an appropriate manner the custodial property to the minor or to the minor's estate upon the earlier of:
(1) The minor's attainment of 21 years of age with respect to custodial property transferred under G.S. 33A-4 or G.S. 33A-5, except that any transferor may have custodial property transferred to the minor at any time after the age of 18 and before the age of 21 by a designation in the following words or their equivalent: "The custodian shall transfer this property to _______ (name of minor) when he reaches the age of ___ (age after 18 and before 21).";
(2) The minor's attainment of age 18 with respect to custodial property transferred under G.S. 33A-6 or G.S. 33A-7; or
(3) The minor's death. (1987, c. 563, s. 2.)
Structure North Carolina General Statutes
North Carolina General Statutes
Chapter 33A - North Carolina Uniform Transfers to Minors Act
§ 33A-2 - Scope and jurisdiction.
§ 33A-3 - Nomination of custodian.
§ 33A-4 - Transfer by gift or exercise of power of appointment.
§ 33A-5 - Transfer authorized by will or trust.
§ 33A-6 - Other transfer by fiduciary.
§ 33A-7 - Transfer by obligor.
§ 33A-8 - Receipt for custodial property.
§ 33A-10 - Single custodianship.
§ 33A-11 - Validity and effect of transfer.
§ 33A-12 - Care of custodial property.
§ 33A-13 - Powers of custodian.
§ 33A-14 - Use of custodial property.
§ 33A-15 - Custodian's expenses, compensation, and bond.
§ 33A-16 - Exemption of third person from liability.
§ 33A-17 - Liability to third persons.
§ 33A-19 - Accounting by and determination of liability of custodian.
§ 33A-20 - Termination of custodianship.
§ 33A-22 - Effect on existing custodianships.