2018 Massachusetts General Laws
PART II REAL AND PERSONAL PROPERTY AND DOMESTIC RELATIONS
TITLE II DESCENT AND DISTRIBUTION, WILLS, ESTATES OF DECEASED PERSONS AND ABSENTEES, GUARDIANSHIP, CONSERVATORSHIP AND TRUSTS
Chapter 201A UNIFORM TRANSFERS TO MINORS ACT
Section 7 Transfer by obligor
Section 7. (a) Subject to subsections (b) and (c), a person not subject to section five or section six who holds property of or owes a liquidated debt to a minor not having a guardian may make an irrevocable transfer to a custodian for the benefit of the minor pursuant to section nine.
(b) If a person having the right to do so under section three has nominated a custodian under said section three to receive the custodial property, the transfer shall be made to such custodian.
(c) If no custodian has been nominated under said section three or all persons so nominated as custodian die before the transfer or are unable, decline, or are ineligible to serve, a transfer under 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.
