N.Y. EPT Law § 7-6.7
This is the official text of N.Y. EPT Law § 7-6.7, part of New York’s EPT Law — part of the compiled statutory law of New York, published by the state as "EPT Law." Browse the sections below, each linked to its official government source.
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Transfer by obligor
Official statutory text
§ 7-6.7 Transfer by obligor\n (a) Subject to paragraphs (b) and (c), a person not subject to 7-6.5\nor 7-6.6 who holds property of or owes a liquidated debt to a minor not\nhaving a guardian may make an irrevocable transfer to a custodian for\nthe benefit of the minor pursuant to 7-6.9.\n (b) If a person having the right to do so under 7-6.3 has nominated a\ncustodian under that section to receive the custodial property, the\ntransfer must be made to that person.\n (c) If no custodian has been nominated under 7-6.3, or all persons so\nnominated as custodian die before the transfer or are unable, decline,\nor are ineligible to serve, a transfer under this section may be made to\nan adult member of the minor's family, unless the property exceeds fifty\nthousand dollars in value, or to a trust company.\n
Status: in_force · Read it on the official government site
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