§ 33A-18. Renunciation, resignation, death, or removal of custodian; designation of successor custodian.
§33A‑18. Renunciation, resignation, death, or removal of custodian;designation of successor custodian.
(a) A person nominatedunder G.S. 33A‑3 or designated under G.S. 33A‑9 as custodian maydecline to serve by delivering a written disclaimer to the person who made thenomination or to the transferor or the transferor's legal representative. Ifthe event giving rise to a transfer has not occurred and no substitutecustodian able, willing, and eligible to serve was nominated under G.S. 33A‑3,the person who made the nomination may nominate a substitute custodian underG.S. 33A‑3; 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 as custodianfor that kind of property under G.S. 33A‑9(a).
(b) A custodian at anytime may designate a trust company or an adult other than the transferor underG.S. 33A‑4 as successor custodian by executing and dating an instrumentof designation before a subscribing witness other than the successor. If theinstrument of designation does not contain or is not accompanied by theresignation of the custodian, the designation of the successor does not takeeffect until the custodian resigns, dies, becomes incapacitated, or is removed.
(c) A custodian mayresign at any time by delivering written notice to the minor if the minor hasattained the age of 14 years and to the successor custodian and by deliveringthe custodial property to the successor custodian.
(d) If a custodian isineligible, dies, or becomes incapacitated without having effectivelydesignated a successor and the minor has attained the age of 14 years, theminor may designate as successor custodian, in the manner prescribed in subsection(b), an adult member of the minor's family, a guardian of the minor, or a trustcompany. If the minor has not attained the age of 14 years or fails to actwithin 60 days after the ineligibility, death, or incapacity, the guardian ofthe minor becomes successor custodian. If the minor has no guardian or theguardian declines to act, the transferor, the legal representative of thetransferor or of the custodian, an adult member of the minor's family, or anyother interested person may petition the court to designate a successorcustodian.
(e) A custodian whodeclines to serve under subsection (a) or resigns under subsection (c), or thelegal representative of a deceased or incapacitated custodian, as soon aspracticable, shall put the custodial property and records in the possession andcontrol of the successor custodian. The successor custodian by action mayenforce the obligation to deliver custodial property and records and becomesresponsible for each item as received.
(f) A transferor, thelegal representative of a transferor, an adult member of the minor's family, aguardian of the person of the minor, the guardian of the minor, or the minor ifthe minor has attained the age of 14 years may petition the court to remove thecustodian for cause and to designate a successor custodian other than atransferor under G.S. 33A‑4 or to require the custodian to giveappropriate bond. (1987, c. 563, s. 2.)