46:38-26. Combining and treating gifts as single custodial gift; separate administration of gifts
154 words·~1 min read·
/nj/title-46/chapter-38/46-38-26·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
If one person has been designated custodian of 2 or more custodial gifts for the same minor he may combine and treat them for all purposes as if they were a single custodial gift. If, however, any successor custodian under one such gift does not have the same status under another such gift, the gifts shall be held and administered separately unless the court shall provide for a single succession of custodians upon an application under this section.
Upon application of a person who has been designated custodian of 2 or more custodial gifts, each from a different donor, for the same minor, where any successor custodian under one such gift does not have the same status under another such gift, the court may provide for a single succession of custodians for all such gifts notwithstanding the designations by the donors.
L. 1963, c. 177, s. 14; repealed R.S. 46:38A-57 (effective July 1, 2007).