2018 Utah Code
Title 75 - Utah Uniform Probate Code
Chapter 5a - Uniform Transfers to Minors Act
Section 108 - Transfer by obligor.

Universal Citation: UT Code § 75-5a-108 (2018)
75-5a-108. Transfer by obligor.
  • (1) Subject to Subsections (2) and (3), a person not subject to Section 75-5a-106 or 75-5a-107 who holds property of or owes a liquidated debt to a minor not having a conservator, may make an irrevocable transfer to a custodian for the benefit of the minor under Section 75-5a-110.
  • (2) If a person having the right under Section 75-5a-104 has nominated a custodian under that section to receive the custodial property, the transfer must be made to that person.
  • (3) If no custodian has been nominated under Section 75-5a-104, or all persons 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 $10,000 in value.

Enacted by Chapter 272, 1990 General Session
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