North Dakota Century Code Title 47. Property § 47-24.1-07. Transfer by obligor

1. Subject to subsections 2 and 3, a person not subject to section 47-24.1-05 or 47-24.1-06 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 section 47-24.1-09.

2. If a person having the right to do so under section 47-24.1-03 has nominated a custodian under that section to receive the custodial property, the transfer must be made to that person.

3. If no custodian has been nominated under section 47-24.1-03, or all persons so nominated as custodian die before the transfer or are unable, decline, or are ineligible to serve, a transfer under this section may be made to an adult member of the minor's family or to a trust company unless the property exceeds ten thousand dollars in value.