§ 7-6.3 Nomination of custodian

(a) A person having the right to designate the recipient of property
transferable upon the occurrence of a future event may revocably
nominate a custodian to receive the property for a minor beneficiary
upon the occurrence of the event by naming the custodian followed in
substance by the words "as custodian for _________________ (name of
minor) under the New York Uniform Transfers to Minors Act." The
nomination may name one or more persons as substitute custodians to whom
the property must be transferred, in the order named, if the first
nominated custodian dies before the transfer or is unable, declines, or
is ineligible to serve. The nomination may be made in a will, a trust, a
deed, an instrument exercising a power of appointment, or in a writing
designating a beneficiary of contractual rights which is registered with
or delivered to the payor, issuer, or other obligor of the contractual
rights.

(b) A custodian nominated under this section must be a person to whom
a transfer of property of that kind may be made under paragraph (a) of
7-6.9.

(c) The nomination of a custodian under this section does not create
custodial property until the nominating instrument becomes irrevocable
or a transfer to the nominated custodian is completed under 7-6.9.
Unless the nomination of a custodian has been revoked, upon the
occurrence of the future event the custodianship becomes effective and
the custodian shall enforce a transfer of the custodial property
pursuant to 7-6.9.