2010 Pennsylvania Code
Title 20 - DECEDENTS, ESTATES AND FIDUCIARIES
Chapter 53 - Pennsylvania Uniform Transfers to Minors Act
5309 - Manner of creating custodial property and effecting transfer.

     § 5309.  Manner of creating custodial property and effecting
                transfer.
        (a)  Creation of custodial property.--Custodial property is
     created and a transfer is made whenever:
            (1)  An uncertificated security or a certificated
        security in registered form is either:
                (i)  registered in the name of the transferor, an
            adult other than the transferor or a trust company,
            followed in substance by the words: "as custodian for
            (name of minor) under the Pennsylvania Uniform Transfers
            to Minors Act"; or
                (ii)  delivered if in certificated form, or any
            document necessary for the transfer of an uncertificated
            security is delivered, together with any necessary
            endorsement to an adult other than the transferor or to a
            trust company as custodian, accompanied by an instrument
            in substantially the form set forth in subsection (b).
            (2)  Money is paid or delivered to a broker or financial
        institution for credit to an account in the name of the
        transferor, an adult other than the transferor or a trust
        company, followed in substance by the words: "as custodian
        for (name of minor) under the Pennsylvania Uniform Transfers
        to Minors Act."
            (3)  The ownership of a life or endowment insurance
        policy or annuity contract is either:
                (i)  registered with the issuer in the name of the
            transferor, an adult other than the transferor or a trust
            company followed in substance by the words: "as custodian
            for (name of minor) under the Pennsylvania Uniform
            Transfers to Minors Act"; or
                (ii)  assigned in a writing delivered to an adult
            other than the transferor or to a trust company whose
            name in the assignment is followed in substance by the
            words: "as custodian for (name of minor) under the
            Pennsylvania Uniform Transfers to Minors Act."
            (4)  An irrevocable exercise of a power of appointment or
        an irrevocable present right to future payment under a
        contract is the subject of a written notification delivered
        to the payor, issuer or other obligor that the right is
        transferred to the transferor, an adult other than the
        transferor or a trust company, whose name in the notification
        is followed in substance by the words: "as custodian for
        (name of minor) under the Pennsylvania Uniform Transfers to
        Minors Act."
            (5)  An interest in real property is recorded in the name
        of the transferor, an adult other than the transferor or a
        trust company, followed in substance by the words: "as
        custodian for (name of minor) under the Pennsylvania Uniform
        Transfers to Minors Act."
            (6)  A certificate of title issued by a state or the
        Federal Government which evidences title to tangible personal
        property is either:
                (i)  issued in the name of the transferor, an adult
            other than the transferor or a trust company, followed in
            substance by the words: "as custodian for (name of minor)
            under the Pennsylvania Uniform Transfers to Minors Act";
            or
                (ii)  delivered to an adult other than the transferor
            or to a trust company, endorsed to that person followed
            in substance by the words: "as custodian for (name of
            minor) under the Pennsylvania Uniform Transfers to Minors
            Act."
            (7)  An interest in any property not described in
        paragraphs (1) through (6) is transferred to an adult other
        than the transferor or to a trust company by a written
        instrument in substantially the form set forth in subsection
        (b).
        (b)  Form.--An instrument in the following form satisfies the
     requirements of subsection (a)(1)(ii) and (7):
                     TRANSFER UNDER THE PENNSYLVANIA
                     UNIFORM TRANSFERS TO MINORS ACT
            I, (name of transferor or name and representative
            capacity if a fiduciary), hereby transfer to (name of
            custodian), as custodian for (name of minor) under the
            Pennsylvania Uniform Transfers to Minors Act, the
            following: (insert a description of the custodial
            property sufficient to identify it).
            Dated:...................................................
            .........................................................
                         (Signature)
            (name of custodian) acknowledges receipt of the property
            described above as custodian for the minor named above
            under the Pennsylvania Uniform Transfers to Minors Act.
            Dated:...................................................
            .........................................................
                 (Signature of custodian)
        (c)  Control of custodial property.--A transferor shall place
     the custodian in control of the custodial property as soon as
     practicable.

        Cross References.  Section 5309 is referred to in sections
     5301, 5302, 5303, 5304, 5305, 5306, 5307, 5311, 5318, 5320, 5321
     of this title.