§ 13-306
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§13–306.
(a)Subject to subsection
(c)of this section, a personal representative or trustee may make an irrevocable transfer to another adult or trust company as custodian for the benefit of a minor pursuant to § 13–309 of this subtitle, in the absence of a will or under a will or trust that does not contain an authorization to do so.
(b)Subject to subsection
(c)of this section, a conservator may make an irrevocable transfer to another adult or trust company as custodian for the benefit of the minor pursuant to § 13–309 of this subtitle.
(c)A transfer under subsection
(a)or
(b)of this section may be made only if:
(1)The personal representative, trustee, or conservator considers the transfer to be in the best interest of the minor;
(2)The transfer is not prohibited by or inconsistent with provisions of the applicable will, trust agreement, or other governing instrument; and
(3)The transfer is authorized by the court if it exceeds $25,000 in value.