Wis. Stat. § 54.866
This is the official text of Wis. Stat. § 54.866, part of Wisconsin’s Wisconsin Statutes — the complete compiled statutory law of Wisconsin, organized into numbered chapters by subject.
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Transfer by obligor.
Official statutory text
(1) Subject to subs. (2) and (3) , a person not subject to s. 54.862 or 54.864 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 under s. 54.870 .
(2) If a person having the right to do so under s. 54.858 has nominated a custodian under that section to receive the custodial property, the transfer must be made to that person.
(3) If no custodian has been nominated under s. 54.858 , or all persons so nominated as custodian die before the transfer or are unable, decline or are ineligible to serve, a transfer under this section may be made to an adult member of the minor’s family or to a trust company unless the property exceeds $10,000 in value.
History: 1987 a. 191 ; 2005 a. 387 s. 533 ; Stats. 2005 s. 54.866.
(2) If a person having the right to do so under s. 54.858 has nominated a custodian under that section to receive the custodial property, the transfer must be made to that person.
(3) If no custodian has been nominated under s. 54.858 , or all persons so nominated as custodian die before the transfer or are unable, decline or are ineligible to serve, a transfer under this section may be made to an adult member of the minor’s family or to a trust company unless the property exceeds $10,000 in value.
History: 1987 a. 191 ; 2005 a. 387 s. 533 ; Stats. 2005 s. 54.866.
Status: in_force · Read it on the official government site
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