2005 Idaho Code - 68-818 — RENUNCIATION, RESIGNATION, DEATH, OR REMOVAL OF CUSTODIAN -- DESIGNATION OF SUCCESSOR CUSTODIAN

                                  TITLE  68
                            TRUSTS AND FIDUCIARIES
                                  CHAPTER 8
                             TRANSFERS TO MINORS
    68-818.  RENUNCIATION, RESIGNATION, DEATH, OR REMOVAL OF CUSTODIAN --
DESIGNATION OF SUCCESSOR CUSTODIAN. (1) A person nominated under section
68-803, Idaho Code, or designated under section 68-809, Idaho Code, as
custodian may decline to serve by delivering a valid disclaimer to the person
who made the nomination or to the transferor or the transferor's legal
representative. If the event giving rise to a transfer has not occurred and no
substitute custodian able, willing, and eligible to serve was nominated under
section 68-803, Idaho Code, the person who made the nomination may nominate a
substitute custodian under section 68-803, Idaho Code; otherwise the
transferor or the transferor's legal representative shall designate a
substitute custodian at the time of the transfer, in either case from among
the persons eligible to serve as custodian for that kind of property under
section 68-809(1), Idaho Code. The custodian so designated has the rights of a
successor custodian.
    (2)  A custodian, at any time, may designate a trust company or an adult
other than a transferor under section 68-804, Idaho Code, as successor
custodian by executing and dating an instrument of designation before a
subscribing witness other than the successor. If the instrument of designation
does not contain or is not accompanied by the resignation of the custodian,
the designation of the successor does not take effect until the custodian
resigns, dies, becomes incapacitated, or is removed.
    (3)  A custodian may resign at any time by delivering written notice to
the minor, if the minor has attained the age of fourteen (14) years, and to
the successor custodian and by delivering the custodial property to the
successor custodian.
    (4)  If a custodian is ineligible, dies, or becomes incapacitated without
having effectively designated a successor and the minor has attained the age
of fourteen (14) years, the minor may designate as successor custodian, in the
manner prescribed in subsection (2) of this section, an adult member of the
minor's family, a conservator of the minor, or a trust company. If the minor
has not attained the age of fourteen (14) years, or fails to act with [within]
sixty (60) days after the ineligibility, death, or incapacity, the conservator
of the minor becomes successor custodian. If the minor has no conservator or
the conservator declines to act, the transferor, the legal representative of
the transferor or of the custodian, an adult member of the minor's family, or
any other interested person, may petition the court to designate a successor
custodian.
    (5)  A custodian who declines to serve under subsection (1) of this
section or resigns under subsection (3) of this section, or the legal
representative of a deceased or incapacitated custodian, as soon as
practicable, shall put the custodial property and records in the possession
and control of the successor custodian. The successor custodian, by action,
may enforce the obligation to deliver custodial property and records and
becomes responsible for each item as received.
    (6)  A transferor, the legal representative of a transferor, an adult
member of the minor's family, a guardian of the person of the minor, the
conservator of the minor, or the minor, if the minor has attained the age of
fourteen (14) years, may petition the court to remove the custodian for cause
and to designate a successor custodian other than a transferor under section
68-804, Idaho Code, or to require the custodian to give appropriate bond.