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- Alaska Statutes.
- Title 13. Decedents' Estates, Guardianships, Transfers, and Trusts.
- Chapter 46. Alaska Uniform Transfers to Minors Act
- Section 170. Renunciation, Resignation, Death, or Removal of Custodian; Designation of Successor Custodian.
previous: Section 160
. Liability to Third Persons.
next: Section 180
. Accounting By and Determination of Liability of Custodian.
AS 13.46.170. Renunciation, Resignation, Death, or Removal of Custodian; Designation of Successor Custodian.
- (a) A person nominated under AS 13.46.020
or designated under AS 13.46.080 as custodian may
decline to serve by delivering a valid disclaimer to the person who made the nomination or to the transferor or the
transferor's legal representative. If the event giving rise to a transfer has not occurred and a substitute custodian
able, willing, and eligible to serve was not nominated under AS 13.46.020
, the person who made the nomination may nominate a substitute custodian under AS 13.46.020; otherwise the transferor or the transferor's
legal representative shall designate a substitute custodian at the time of the transfer, in either case from among the
persons eligible to serve as custodian for that kind of property under AS 13.46.080
(a). The custodian so designated has the rights of a successor custodian.
- (b) A custodian at any time may designate a trust company or an adult other than a transferor under AS 13.46.030
as successor custodian by executing and dating an instrument of designation before a subscribing witness other than
the successor. If the instrument of designation does not contain or is not accompanied by the resignation of the
custodian, the designation of the successor does not take effect until the custodian resigns, dies, becomes
incapacitated, or is removed.
- (c) A custodian may resign at any time by delivering written notice to the minor if the minor has attained the age of 14
years and to the successor custodian and by delivering the custodial property to the successor custodian.
- (d) If a custodian is ineligible, dies, or becomes incapacitated without having effectively designated a successor and the
minor has attained the age of 14 years, the minor may designate as successor custodian, in the manner prescribed in (b)
of this section, an adult member of the minor's family, a conservator of the minor, or a trust company. If the minor
has not attained the age of 14 years or fails to act within 60 days after the ineligibility, death, or incapacity, the
conservator of the minor becomes successor custodian. If the minor has no conservator or the conservator declines to
act, the transferor, the legal representative of the transferor or of the custodian, an adult member of the minor's
family, or another interested person may petition the court to designate a successor custodian.
- (e) A custodian who declines to serve under (a) of this section or resigns under (c) of this section, or the legal
representative of a deceased or incapacitated custodian, as soon as practicable, shall put the custodial property and
records in the possession and control of the successor custodian. The successor custodian by action may enforce the
obligation to deliver custodial property and records and becomes responsible for each item as received.
- (f) A transferor, the legal representative of a transferor, an adult member of the minor's family, a guardian of the
person of the minor, the conservator of the minor, or the minor if the minor has attained the age of 14 years may
petition the court to remove the custodian for cause and to designate a successor custodian other than a transferor
under AS 13.46.030
or to require the custodian to give appropriate bond.
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