2023 Alaska Statutes › Title 13. Decedents' Estates, Guardianships, Transfers, Trusts, and Health Care Decisions › Chapter 46. Alaska Uniform Transfers to Minors Act › Sec. 13.46.080. Manner of creating custodial property and effecting transfer; designation of initial custodian; control.

(a) Custodial property is created and a transfer is made when
(1) an uncertificated security or a certificated security in registered form is either
(A) 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 Alaska Uniform Transfers to Minors Act”; or
(B) delivered if in certificated form, or a 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 out in (b) of this section;
(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 Alaska Uniform Transfers to Minors Act”;
(3) the ownership of a life or endowment insurance policy or annuity contract is either
(A) 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 Alaska Uniform Transfers to Minors Act”; or
(B) 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 Alaska 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 Alaska 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 Alaska Uniform Transfers to Minors Act”;
(6) a certificate of title issued by a department or agency of a state or of the United States that evidences title to tangible personal property is either
(A) 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 Alaska Uniform Transfers to Minors Act”; or
(B) 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 Alaska Uniform Transfers to Minors Act”; or
(7) an interest in property not described in (1) - (6) of this subsection is transferred to an adult other than the transferor or to a trust company by a written instrument in substantially the form set out in (b) of this section.
(b) An instrument in the following form satisfies the requirements of (a)(1)(B) and (a)(7) of this section:
“TRANSFER UNDER THE ALASKA 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 Alaska Uniform Transfers to Minors Act, the following: (insert a description of the custodial property sufficient to identify it).
Dated: _____________________________________
(Signature)
_____________________________________ (name of custodian) has received the property described above as custodian for the minor named above under the Alaska Uniform Transfers to Minors Act.
Dated: _____________________________________
_____________________________________________________________________ ”
(Signature of Custodian)
(c) A transferor shall place the custodian in control of the custodial property as soon as practicable.