Browse Arkansas Code titles and sections
9-26-220. Termination of custodianship.
Arkansas Code — all titles (historical 2020) · legal_authorities
9-26-220. Termination of custodianship.
The custodian shall transfer in an appropriate manner the custodial property to the minor or to the minor's estate upon the earlier of:
(1) the minor's attainment of twenty-one (21) years of age with respect to custodial property transferred under § 9-26-204 or § 9-26-205, except that any transferor may have custodial property transferred to the minor at any time after the age of eighteen (18) years and before twenty-one (21) years by a designation in the following words or their equivalent: “The custodian shall transfer this property to (name of minor) when (he or she) reaches the age of (age, after eighteen (18) years and before twenty-one (21) years, at which transfer takes place)”;
(2) the minor's attainment of age eighteen (18) years with respect to custodial property transferred under § 9-26-206 or § 9-26-207; or
(3) the minor's death.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 9-26-220
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. A text match is a research starting point; applicability is not established.
Issuing source page ↗
Authority boundary: historical statutory source snapshot not current law.
Open the recorded source website ↗
Record provenance
Stable record: arkansas_code:legal_authorities:9-26-220
Source file: gov.ar.code.title.09.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 292fc029b842690cbca84190fc841d24771b35fb8ce4ace08a6ae7e5779a53c4
Source location: content.xml paragraph 13791
Stored source content
9-26-220. Termination of custodianship.
The custodian shall transfer in an appropriate manner the custodial property to the minor or to the minor's estate upon the earlier of:
(1) the minor's attainment of twenty-one (21) years of age with respect to custodial property transferred under § 9-26-204 or § 9-26-205, except that any transferor may have custodial property transferred to the minor at any time after the age of eighteen (18) years and before twenty-one (21) years by a designation in the following words or their equivalent: “The custodian shall transfer this property to (name of minor) when (he or she) reaches the age of (age, after eighteen (18) years and before twenty-one (21) years, at which transfer takes place)”;
(2) the minor's attainment of age eighteen (18) years with respect to custodial property transferred under § 9-26-206 or § 9-26-207; or
(3) the minor's death.
Cross-references
Connections may be documented source relationships, shared citations or nearby passages. Each explains its basis; a connection alone does not establish applicability to your situation.
Arkansas Code — all titles (historical 2020) · legal_authorities
9-26-204. Transfer by gift or exercise of power of appointment.
A person may make a transfer by irrevocable gift to, or the irrevocable exercise of a power of appointment in favor of, a custodian for the benefit of a minor pursuant to § 9-26-209.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 9-26-204
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. The source passage cites 9-26-204. This identifies an authority to review, not proof of applicability.
Arkansas Code — all titles (historical 2020) · legal_authorities
9-26-205. Transfer authorized by will or trust.
(a) A personal representative or trustee may make an irrevocable transfer pursuant to § 9-26-209 to a custodian for the benefit of a minor as authorized in the governing will or trust.
(b) If the testator or settlor has nominated a custodian under § 9-26-203 to receive the custodial property, the transfer must be made to that person.
(c) If the testator or settlor has not nominated a custodian under § 9-26-203, or all persons so nominated as a custodian die before the transfer or are unable, decline, or are ineligible to serve, the personal representative or the trustee, as the case may be, shall designate the custodian from among those eligible to serve as custodian for property of that kind under § 9-26-209.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 9-26-205
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. The source passage cites 9-26-205. This identifies an authority to review, not proof of applicability.
Arkansas Code — all titles (historical 2020) · legal_authorities
9-26-206. Other transfer by fiduciary.
(a) Subject to subsection (c) of this section, a personal representative or trustee may make an irrevocable transfer to another adult or trust company as custodian for the benefit of a minor pursuant to § 9-26-209, in the absence of a will or under a will or trust that does not contain an authorization to do so.
(b) Subject to subsection (c) of this section, a conservator may make an irrevocable transfer to another adult or trust company as custodian for the benefit of the minor pursuant to § 9-26-209.
(c) A transfer under subsection (a) or (b) of this section may be made only if (i) the personal representative, trustee, or conservator considers the transfer to be in the best interest of the minor, (ii) the transfer is not prohibited by or inconsistent with provisions of the applicable will, trust agreement, or other governing instrument, and (iii) the transfer is authorized by the court if it exceeds ten thousand dollars ($10,000) in value.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 9-26-206
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. The source passage cites 9-26-206. This identifies an authority to review, not proof of applicability.
Arkansas Code — all titles (historical 2020) · legal_authorities
9-26-207. Transfer by obligor.
(a) Subject to subsections (b) and (c) of this section, a person not subject to § 9-26-205 or § 9-26-206 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 § 9-26-209.
(b) If a person having the right to do so under § 9-26-203 has nominated a custodian under that section to receive the custodial property, the transfer must be made to that person.
(c)(1) If a custodian has not been nominated under § 9-26-203, or all nominated custodians die before the transfer or are unable, decline, or are ineligible to serve as a custodian, a transfer under this section may be made on behalf of a minor beneficiary to the minor beneficiary's parent or legal guardian, or to a trust company unless the property exceeds ten thousand dollars ($10,000) in value except as provided under subdivision (c)(2) of this section.
(2) A survivor benefit due to a minor by the Arkansas Teacher Retirement System under § 24-7-710(c) may be paid on behalf of a minor beneficiary to the minor beneficiary's parent, legal guardian, or legal custodian or to a trust company unless the value of the survivor benefit exceeds twenty thousand dollars ($20,000) per year.
(3) The Arkansas Teacher Retirement System is not liable for any misuse of funds paid on behalf of a minor beneficiary to a minor beneficiary's parent, legal guardian, or legal custodian under subdivision (c)(2) of this section.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 9-26-207
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. The source passage cites 9-26-207. This identifies an authority to review, not proof of applicability.