N.J. Stat. § 46:38A-17: Transfer by obligor; custodian not nominated or dead, etc.

If a custodian has not been nominated under R.S. 46:38A-6, or all persons so nominated as custodian to receive custodial property under R.S. 46:38A-15 die before the transfer or are unable, decline, or are ineligible to serve, a transfer under R.S. 46:38A-15 may be made to an adult member of the minor's family or to a trust company unless the property exceeds $10,000.00 in value.

L. 1987, c. 18, s. 1.