(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: "as custodian for ______________ (name of minor) under the South Carolina Uniform Transfers to Minors Act". 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.
(b) A custodian nominated under this section must be a person to whom a transfer of property of that kind may be made under Section 63-5-645(a).
(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 Section 63-5-645. Unless the nomination of a custodian has been revoked, upon the occurrence of the future event the custodianship becomes effective and the custodian shall enforce a transfer of the custodial property pursuant to Section 63-5-645.
HISTORY: 2022 Act No. 128 (H.3821), Section 1, eff April 4, 2022.
Structure South Carolina Code of Laws
Title 63 - South Carolina Children's Code
Chapter 5 - Legal Status Of Children
Section 63-5-10. Spousal and child support.
Section 63-5-20. Obligation to support.
Section 63-5-30. Rights and duties of parents regarding minor children.
Section 63-5-40. Breastfeeding.
Section 63-5-50. Parental immunity in cases of incorrigibility of seventeen year old.
Section 63-5-60. Parental civil liability for damage to State property.
Section 63-5-70. Unlawful conduct toward a child.
Section 63-5-80. Cruelty to children.
Section 63-5-310. Ratification of minor's contracts.
Section 63-5-320. Minor's capacity to borrow for higher education.
Section 63-5-330. Married minors consent to health procedures.
Section 63-5-340. Minor's consent to health services.
Section 63-5-350. Health services to minors without parental consent.
Section 63-5-360. Minor parent consent to health services for child.
Section 63-5-370. Consent not subject to disaffirmance.
Section 63-5-601. Short title.
Section 63-5-605. Definitions.
Section 63-5-610. Scope and jurisdiction.
Section 63-5-615. Nomination of custodian.
Section 63-5-620. Transfer by gift or exercise of power of appointment.
Section 63-5-625. Transfer authorized by will or trust.
Section 63-5-630. Other transfer by fiduciary.
Section 63-5-635. Transfer by obligor.
Section 63-5-640. Receipt for custodial property.
Section 63-5-650. Single custodianship.
Section 63-5-655. Validity and effect of transfer.
Section 63-5-660. Care of custodial property.
Section 63-5-665. Powers of custodian.
Section 63-5-670. Use of custodial property.
Section 63-5-675. Custodian's expenses, compensation, and bond.
Section 63-5-680. Exemption of third person from liability.
Section 63-5-685. Liability to third persons.
Section 63-5-695. Accounting by and determination of liability of custodian.
Section 63-5-700. Termination of custodianship.
Section 63-5-705. Applicability.
Section 63-5-710. Effect on existing custodianships.
Section 63-5-715. Uniformity of application and construction.
Section 63-5-900. Citation of article.