Section 46:38-20.1 - Taking effect of designation of successor custodianThe designation of a successor custodian takes effect as to each item of the custodial property when the custodian resigns, dies or becomes legally incapacitated and the custodian or his legal representative:
a. Causes the item, if it is a security in registered form or a life insurance or endowment policy or annuity contract, to be registered, with the issuing insurance company in the case of a life insurance policy or annuity con- tract, in the name of the successor custodian followed, in substance, by the words: "as custodian for........................ (name of minor) under the New Jersey Uniform Gifts to Minors Act"; andb. Delivers or causes to be delivered to the successor custodian any other item of the custodial property, together with the instrument of designation of the successor custodian or a true copy thereof and any additional instruments required for the transfer thereof to the successor custodian.L.1981, c.377, s.7, eff. March 1, 1982; repealed 46:38A-57 (effective 7/1/2007).