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§ 91-20-15. Transfer to custodian by one holding property of or owing debt to minor; designation of custodian

MS Code § 91-20-15 (2019) (N/A)
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(1) Subject to subsections (2) and (3), a person not subject to Section 91-20-11 or 91-20-13 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 pursuant to Section 91-20-19.

(2) If a person having the right to do so under Section 91-20-7 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 91-20-7, 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 ($10,000.00) in value.

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§ 91-20-13. Transfer by personal representative, trustee, or conservator to another adult or trust company as custodian without authorization by will or trust; prerequisites
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§ 91-20-17. Written receipt from custodian; effect