North Carolina Statutes

Chapter 33A North Carolina Uniform Transfers to Minors Ac

  • § 33A-1   Definitions
    In this Chapter: (1) "Adult" means an individual who has attained the age of 21 years. (2) "Benefit plan" means an employer's plan for the...
  • § 33A-2   Scope and jurisdiction
    (a) This Chapter applies to a transfer if at the time of the transfer, the transferor, the minor, or the custodian is a resident of...
  • § 33A-3   Nomination of custodian
    (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...
  • § 33A-4   Transfer by gift or exercise of power of appointment
    A person may make a transfer by irrevocable gift to, or the irrevocable exercise of a power of appointment in favor of, a custodian for...
  • § 33A-5   Transfer authorized by will or trust
    (a) A personal representative or trustee may make an irrevocable transfer pursuant to G.S. 33A‑9 to a custodian for the benefit of a minor as...
  • § 33A-6   Other transfer by fiduciary
    (a) Subject to subsection (c), a personal representative or trustee may make an irrevocable transfer to the transferor or to another adult or trust company...
  • § 33A-7   Transfer by obligor
    (a) Subject to subsections (b) and (c), a person not subject to Section 33A‑5 or 33A‑6 who holds property of or owes a liquidated debt...
  • § 33A-8   Receipt for custodial property
    A written acknowledgement by a custodian of delivery authorized by this Chapter constitutes a sufficient receipt and discharge for custodial property transferred to the custodian....
  • § 33A-9   Manner of creating custodial property and effecting transfer; designation of initial custodian; control
    (a) Custodial property is created and a transfer is made whenever: (1) An uncertificated security or a certificated security in registered form is either: a....
  • § 33A-10   Single custodianship
    A transfer may be made only for one minor, and only one person may be the custodian. All custodial property held under this Chapter by...
  • § 33A-11   Validity and effect of transfer
    (a) The validity of a transfer made in a manner prescribed in this Chapter is not affected by: (1) Failure of the transferor to comply...
  • § 33A-12   Care of custodial property
    (a) A custodian shall: (1) Take control of custodial property; (2) Register or record title to custodial property if appropriate; and (3) Collect, hold, manage,...
  • § 33A-13   Powers of custodian
    (a) A custodian, acting in a custodial capacity, has all the rights, powers, and authority over custodial property that unmarried adult owners have over their...
  • § 33A-14   Use of custodial property
    (a) A custodian may deliver or pay to the minor or expend for the minor's benefit so much of the custodial property as the custodian...
  • § 33A-15   Custodian's expenses, compensation, and bond
    (a) A custodian is entitled to pay from and to be reimbursed from custodial property for reasonable expenses incurred in the performance of the custodian's...
  • § 33A-16   Exemption of third person from liability
    A third person in good faith and without court order may act on the instructions of or otherwise deal with any person purporting to make...
  • § 33A-17   Liability to third persons
    (a) A claim based on (i) a contract entered into by a custodian acting in a custodial capacity, (ii) an obligation arising from the ownership...
  • § 33A-18   Renunciation, resignation, death, or removal of custodian; designation of successor custodian
    (a) A person nominated under G.S. 33A‑3 or designated under G.S. 33A‑9 as custodian may decline to serve by delivering a written disclaimer to the...
  • § 33A-19   Accounting by and determination of liability of custodian
    (a) A minor who has attained the age of 14 years, the minor's guardian of the person or legal representative, an adult member of the...
  • § 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...
  • § 33A-21   Applicability
    This Chapter applies to a transfer within the scope of G.S. 33A‑2 made after October 1, 1987, if: (1) The transfer purports to have been...
  • § 33A-22   Effect on existing custodianships
    (a) Any transfer of custodial property as now defined in this Chapter made before October 1, 1987, is validated notwithstanding that there was no specific...
  • § 33A-23   Uniformity of application and construction
    This Chapter shall be applied and construed to effect its general purpose to make uniform the law with respect to the subject of this Chapter...
  • § 33A-24   Short title
    This Chapter may be cited as the "North Carolina Uniform Transfers to Minors Act." (1987, c. 563, s. 2.)