§ 7-6.9 Manner of creating custodial property and effecting transfer;
designation of initial custodian; control

(a) Custodial property is created and a transfer is made whenever:

(1) an uncertificated security or 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 New York
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 paragraph (b);

(2) money is paid or delivered, or a security held in the name of a
broker, financial institution, or its nominee is transferred, 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 New York 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 New York 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 New York 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 New York 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 New York Uniform
Transfers to Minors Act";

(6) a certificate of title issued by a department or agency of a state
or of the United States 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 New York
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 New
York Uniform Transfers to Minors Act"; or

(7) an interest in any property not described in subparagraphs (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 paragraph (b).

(b) An instrument in the following form satisfies the requirements of
clause (ii) of subparagraph (1) and subparagraph (7) of paragraph (a):

"TRANSFER UNDER THE NEW YORK 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
New York 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 New York 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.