Alaska Statutes: AS 13.46.080. Manner of Creating Custodial Property and Effecting Transfer; Designation of Initial Custodian; Control.

Alaska Statutes. Title 13. Decedents' Estates, Guardianships, Transfers, and Trusts. Chapter 46. Alaska Uniform Transfers to Minors Act Section 80. Manner of Creating Custodial Property and Effecting Transfer; Designation of Initial Custodian; Control.

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AS 13.46.080. Manner of Creating Custodial Property and Effecting Transfer; Designation of Initial Custodian; Control.

   (a) Custodial property is created and a transfer is made when
        (1) an uncertificated security or a certificated security in registered form is either
             (A) registered in the name of the transferor, an adult other than the transferor, or a trust company, followed in substance by the words: "as custodian for _____________________________________(name of minor) under the Alaska Uniform Transfers to Minors Act"; or
             (B) delivered if in certificated form, or a document necessary for the transfer of an uncertificated security is delivered, together with any necessary endorsement to an adult other than the transferor or to a trust company as custodian, accompanied by an instrument in substantially the form set out in (b) of this section;
        (2) money is paid or delivered to a broker or financial institution for credit to an account in the name of the transferor, an adult other than the transferor, or a trust company, followed in substance by the words: "as custodian for _____________________________________(name of minor) under the Alaska Uniform Transfers to Minors Act";
        (3) the ownership of a life or endowment insurance policy or annuity contract is either
             (A) registered with the issuer in the name of the transferor, an adult other than the transferor, or a trust company, followed in substance by the words: "as custodian for _____________________________________(name of minor) under the Alaska Uniform Transfers to Minors Act"; or
             (B) assigned in a writing delivered to an adult other than the transferor or to a trust company whose name in the assignment is followed in substance by the words: "as custodian for _____________________________________(name of minor) under the Alaska Uniform Transfers to Minors Act";
        (4) an irrevocable exercise of a power of appointment or an irrevocable present right to future payment under a contract is the subject of a written notification delivered to the payor, issuer, or other obligor that the right is transferred to the transferor, an adult other than the transferor, or a trust company, whose name in the notification is followed in substance by the words: "as custodian for _____________________________________(name of minor) under the Alaska Uniform Transfers to Minors Act";
        (5) an interest in real property is recorded in the name of the transferor, an adult other than the transferor, or a trust company, followed in substance by the words: "as custodian for _____________________________________(name of minor) under the Alaska Uniform Transfers to Minors Act";
        (6) a certificate of title issued by a department or agency of a state or of the United States that evidences title to tangible personal property is either
             (A) issued in the name of the transferor, an adult other than the transferor, or a trust company, followed in substance by the words: "as custodian for _____________________________________(name of minor) under the Alaska Uniform Transfers to Minors Act"; or
             (B) delivered to an adult other than the transferor or to a trust company, endorsed to that person followed in substance by the words: "as custodian for _____________________________________(name of minor) under the Alaska Uniform Transfers to Minors Act"; or
        (7) an interest in property not described in (1) - (6) of this subsection is transferred to an adult other than the transferor or to a trust company by a written instrument in substantially the form set out in (b) of this section.
   (b) An instrument in the following form satisfies the requirements of (a)(1)(B) and (a)(7) of this section:

"TRANSFER UNDER THE ALASKA UNIFORM TRANSFERS TO MINORS ACT

I, _______________________________________________________(name of transferor or name and representative capacity if a fiduciary) hereby transfer to _______________________________________________________(name of custodian), as custodian for _______________________________________________________(name of minor) under the Alaska Uniform Transfers to Minors Act, the following: (insert a description of the custodial property sufficient to identify it).

Dated: ________________________________

______________________________________________________

(Signature)

_______________________________________________________(name of custodian) has received the property described above as custodian for the minor named above under the Alaska Uniform Transfers to Minors Act.

Dated: _________________________________

______________________________________________________

(Signature of Custodian)

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