38-1719. Renunciation, resignation, death or removal of custodian; designation of successor custodian.
38-1719
38-1719. Renunciation, resignation, death or removal of custodian;designation of successor custodian.(a) A person nominated under K.S.A. 38-1704or designated under K.S.A. 38-1710 as custodian may decline to serve bydelivering a valid disclaimer to the person who made the nomination or tothe transferor or the transferor's legal representative. If the eventgiving rise to a transfer has not occurred and no substitute custodianable, willing, and eligible to serve was nominated under K.S.A. 38-1704, theperson who made the nomination may nominate a substitute custodian underK.S.A. 38-1704; otherwise the transferor or the transferor's legalrepresentative shall designate a substitute custodian at the time of thetransfer, in either case from among the persons eligible to serve ascustodian for that kind of property under subsection (a) of K.S.A. 38-1710.The custodian sodesignated has the rights of a successor custodian.
(b) A custodian at any time may designate a trust company or an adultother than a transferor under K.S.A. 38-1705 as successorcustodian by executingand dating an instrument of designation before a subscribing witness otherthan the successor. If the instrument of designation does not contain or isnot accompanied by the resignation of the custodian, the designation of thesuccessor does not take effect until the custodian resigns, dies, becomesincapacitated, or is removed.
(c) A custodian may resign at any time by delivering written notice tothe minor if the minor has attained the age of 14 years and to thesuccessor custodian and by delivering the custodial property to the successor custodian.
(d) If a custodian is ineligible, dies, or becomes incapacitated withouthaving effectively designated a successor and the minor has attained theage of 14 years, the minor may designate as successor custodian, in themanner prescribed in subsection (b), an adult member of the minor's family,a conservator of the minor, or a trust company. If the minor has notattained the age of 14 years or fails to act within 60 days after theineligibility, death, or incapacity, the conservator of the minor becomessuccessor custodian. If the minor has no conservator or the conservatordeclines to act, the transferor, the legal representative of the transferoror of the custodian, an adult member of the minor's family, or any otherinterested person may petition the court to designate a successor custodian.
(e) A custodian who declines to serve under subsection (a) or resignsunder subsection (c), or the legal representative of a deceased orincapacitated custodian, as soon as practicable, shall put the custodialproperty and records in the possession and control of the successorcustodian. The successor custodian by action may enforce the obligation todeliver custodial property and records and becomes responsible for eachitem as received.
(f) A transferor, the legal representative of a transferor, an adultmember of the minor's family, a guardian of the person of the minor, theconservator of the minor, or the minor if the minor has attained the age of14 years may petition the court to remove the custodian for cause and todesignate a successor custodian other than a transferor under K.S.A.38-1705 or to require the custodian to give appropriate bond.
History: L. 1985, ch. 143, § 18; July 1.