WILLIAM DONALD SCHAEFER, Governor Ch. 638

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 § 13-303 OF THIS SUBTITLE TO RECEIVE THE CUSTODIAL
PROPERTY, THE TRANSFER MOST BE MADE TO THAT PERSON.

(C)   IF THE TESTATOR OR SETTLOR HAS NOT NOMINATED A
CUSTODIAN UNDER § 13-303 OF THIS SUBTITLE, OR ALL PERSONS SO
NOMINATED AS 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 § 13-309(A) OF THIS SUBTITLE.

13-306.

(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 § 13-309 OF THIS SUBTITLE, 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 § 13-309 OF THIS SUBTITLE.

(C)  A TRANSFER UNDER SUBSECTION (A) OR (3) OF THIS SECTION
MAY BE MADE ONLY IF:

(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; AND

(3)  THE TRANSFER IS AUTHORIZED BY THE COURT IF IT
EXCEEDS $10,000 IN VALUE.

13-307.

(A)  SUBJECT TO SUBSECTIONS (B) AND (C) OF THIS SECTION, A
PERSON NOT SUBJECT TO § 13-305 OR § 13-306 OF THIS SUBTITLE 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 § 13-309 OF THIS SUBTITLE.

(B)   IF A PERSON HAVING THE RIGHT TO DO SO UNDER § 13-303 OF
THIS SUBTITLE HAS NOMINATED A CUSTODIAN UNDER THAT SECTION TO

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