14-7657. Transfer by obligor
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/az/title-14/14-7657A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
A. Pursuant to subsections B and C of this section, a person who is not subject to section 14-7655 or 14-7656 and who holds property of or owes a liquidated debt to a minor who does not have a conservator may make an irrevocable transfer to a custodian for the benefit of the minor pursuant to section 14-7659.
B. If a person having the right to do so pursuant to section 14-7653 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 pursuant to section 14-7653 or all persons so nominated as custodian die before the transfer or are unable, decline or are ineligible to serve, a transfer pursuant to this section may be made to an adult member of the minor's family or to a trust company unless the property exceeds ten thousand dollars in value.