Section 3918 Of Part 9. California Uniform Transfers To Minors Act From California Probate Code >> Division 4. >> Part 9.
3918
. (a) A person nominated under Section 3903 or designated under
Section 3909 as custodian may decline to serve by delivering a valid
disclaimer under Part 8 (commencing with Section 260) of Division 2
to the person who made the nomination or to the transferor or the
transferor's legal representative. If the event giving rise to a
transfer has not occurred and no substitute custodian able, willing,
and eligible to serve was nominated under Section 3903, the person
who made the nomination may nominate a substitute custodian under
Section 3903; otherwise the transferor or the transferor's legal
representative shall designate a substitute custodian at the time of
the transfer, in either case from among the persons eligible to serve
as custodian for that kind of property under subdivision (a) of
Section 3909. The custodian so designated has the rights of a
successor custodian.
(b) A custodian at any time may designate a trust company or an
adult other than a transferor under Section 3904 as successor
custodian by executing and dating an instrument of designation before
a subscribing witness other than the successor. If the instrument of
designation does not contain or is not accompanied by the
resignation of the custodian, the designation of the successor does
not take effect until the custodian resigns, dies, becomes
incapacitated, or is removed. The transferor may designate one or
more persons as successor custodians to serve, in the designated
order of priority, in case the custodian originally designated or a
prior successor custodian is unable, declines, or is ineligible to
serve or resigns, dies, becomes incapacitated, or is removed. The
designation either (1) shall be made in the same transaction and by
the same document by which the transfer is made or (2) shall be made
by executing and dating a separate instrument of designation before a
subscribing witness other than a successor as a part of the same
transaction and contemporaneously with the execution of the document
by which the transfer is made. The designation is made by setting
forth the successor custodian's name, followed in substance by the
words: "is designated [first, second, etc., where applicable]
successor custodian." A successor custodian designated by the
transferor may be a trust company or an adult other than a transferor
under Section 3904. A successor custodian effectively designated by
the transferor has priority over a successor custodian designated by
a custodian.
(c) A custodian may resign at any time by delivering written
notice to the minor if the minor has attained the age of 14 years and
to the successor custodian and by delivering the custodial property
to the successor custodian.
(d) If the transferor has not effectively designated a successor
custodian, and a custodian is ineligible, dies, or becomes
incapacitated without having effectively designated a successor and
the minor has attained the age of 14 years, the minor may designate
as successor custodian, in the manner prescribed in subdivision (b),
an adult member of the minor's family, a conservator of the minor, or
a trust company. If the minor has not attained the age of 14 years
or fails to act within 60 days after the ineligibility, death, or
incapacity, the conservator of the minor becomes successor custodian.
If the minor has no conservator or the conservator declines to act,
the transferor, the legal representative of the transferor or of the
custodian, an adult member of the minor's family, or any other
interested person may petition the court to designate a successor
custodian.
(e) A custodian who declines to serve under subdivision (a) or
resigns under subdivision (c), or the legal representative of a
deceased or incapacitated custodian, as soon as practicable, shall
put the custodial property and records in the possession and control
of the successor custodian. The successor custodian by action may
enforce the obligation to deliver custodial property and records and
becomes responsible for each item as received.
(f) A transferor, the legal representative of a transferor, an
adult member of the minor's family, a guardian of the person of the
minor, the conservator of the minor, or the minor if the minor has
attained the age of 14 years, may petition the court to remove the
custodian for cause and to designate a successor custodian other than
a transferor under Section 3904 or to require the custodian to give
appropriate bond.
(g) At least 15 days before the hearing on a petition under
subdivision (d) or (f), the petitioner shall serve notice by mail or
personal delivery on each of the following persons:
(1) The minor.
(2) The parent or parents of the minor.
(3) The transferor.
(h) Upon consideration of the petition under subdivision (d) or
(f), the court may grant the relief that the court finds to be in the
best interests of the minor.