2010 Pennsylvania Code
Title 20 - DECEDENTS, ESTATES AND FIDUCIARIES
Chapter 53 - Pennsylvania Uniform Transfers to Minors Act
5306 - Other transfer by fiduciary.

     § 5306.  Other transfer by fiduciary.
        (a)  Irrevocable transfer by personal representative or
     trustee.--Subject to subsection (c), 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 section 5309 (relating to manner of creating custodial
     property and effecting transfer) in the absence of a will or
     under a will or trust that does not contain an authorization to
     do so.
        (b)  Irrevocable transfer by guardian.--Subject to subsection
     (c), a guardian may make an irrevocable transfer to another
     adult or trust company as custodian for the benefit of the minor
     pursuant to section 5309.
        (c)  Additional requirements for transfer.--A transfer under
     subsection (a) or (b) may be made only if:
            (1)  the personal representative, trustee or guardian
        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.
     (Oct. 12, 1999, P.L.422, No.39, eff. 60 days)

        1999 Amendment.  Act 39 amended subsec. (c). See section
     13(8) of Act 39 in the appendix to this title for special
     provisions relating to applicability.
        Cross References.  Section 5306 is referred to in sections
     5307, 5320 of this title.

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