(a) Subject to subsections (b) and (c) of this section, a person not subject to section five or six of this article who holds property of or owes a liquidated debt to a minor not having a conservator may make an irrevocable transfer to a custodian for the benefit of the minor pursuant to section nine of this article.
(b) If a person having the right to do so under section three of this article has nominated a custodian under that section to receive the custodial property, the transfer must be made to that person.
(c) If no custodian has been nominated under section three of this article, or all persons so nominated as custodian die before the transfer or are unable, decline or are ineligible to serve, a transfer under this section may be made to an adult member of the minor's family or to a trust company unless the property exceeds $10,000 in value.
Structure West Virginia Code
Chapter 36. Estates and Property
Article 7. Uniform Transfers to Minors Act
§36-7-2. Scope and Jurisdiction
§36-7-3. Nomination of Custodian
§36-7-4. Transfer by Gift or Exercise of Power of Appointment
§36-7-5. Transfer Authorized by Will or Trust
§36-7-6. Other Transfer by Fiduciary
§36-7-8. Receipt for Custodial Property
§36-7-10. Single Custodianship
§36-7-11. Validity and Effect of Transfer
§36-7-12. Care of Custodial Property
§36-7-14. Use of Custodial Property
§36-7-15. Custodian's Expenses, Compensation, and Bond
§36-7-16. Exemption of Third Person From Liability
§36-7-17. Liability to Third Persons
§36-7-19. Accounting by and Determination of Liability of Custodian
§36-7-20. Termination of Custodianship
§36-7-22. Effect on Existing Custodianships