§36-7-3. 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 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 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 subsection (a), section nine of this article.
(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 nine of this article. 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nomination of a custodian has been revoked, upon the occurrence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 nine of this article.