Section 3906 Of Part 9. California Uniform Transfers To Minors Act From California Probate Code >> Division 4. >> Part 9.
3906
. (a) Subject to subdivision (c), 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 Section
3909, in the absence of a will or under a will or trust that does not
contain an authorization to do so.
(b) Subject to subdivision (c), a conservator may make an
irrevocable transfer to another adult or trust company as custodian
for the benefit of the minor pursuant to Section 3909.
(c) A transfer under subdivision (a) or (b) may be made only if
all of the following requirements are satisfied:
(1) The personal representative, trustee, or conservator considers
the transfer to be in the best interest of the minor.
(2) The transfer is not prohibited by or inconsistent with
provisions of the applicable will, trust agreement, or other
governing instrument. For the purposes of this subdivision, a
spendthrift provision (such as that described in Section 15300) shall
not prohibit or be inconsistent with the transfer.
(3) The transfer is authorized by the court if it exceeds ten
thousand dollars ($10,000) in value; provided, however, that such
court authorization shall not be required when the transfer is to a
custodian who is either (A) a trust company or (B) an individual
designated as a trustee by the terms of a trust instrument which does
not require a bond.