PRINTER'S NO. 2090
No. 1686 Session of 1971
INTRODUCED BY MESSRS. MELTON AND BARBER, NOVEMBER 11, 1971
REFERRED TO COMMITTEE ON JUDICIARY, NOVEMBER 29, 1971
AN ACT
1 Amending the act of June 21, 1957 (P.L.358), entitled "An act
2 concerning gifts of securities or money to minors; providing
3 for custodians of such gifts and their powers and duties;
4 defining the effect of the gifts on guardians of minors or
5 their estates; conferring jurisdiction on orphans' courts,
6 and absolving agents dealing with securities or money from
7 certain responsibilities," reducing certain age requirements.
8 The General Assembly of the Commonwealth of Pennsylvania
9 hereby enacts as follows:
10 Section 1. Clauses (1) and (11) of section 2 and subsection
11 (d) of section 5, act of June 21, 1957 (P.L.358), known as the
12 "Pennsylvania Uniform Gifts to Minors Act," are amended to read:
13 Section 2. Definitions.--The following words, terms and
14 phrases when used in this act shall have the meaning ascribed to
15 them in this section, except where the context clearly indicates
16 a different meaning:
17 (1) An "adult" is a person who has attained the age of
18 [twenty-one] eighteen years.
19 * * *
20 (11) A "minor" is a person who has not attained the age of
21 [twenty-one] eighteen years.
1 * * *
2 Section 5. Duties and Powers of Custodian.--* * *
3 (d) To the extent that the custodial property is not so
4 expended, the custodian shall deliver or pay it over to the
5 minor on his attaining the age of [twenty-one] eighteen years,
6 or if the minor dies before attaining the age of [twenty-one]
7 eighteen years, he shall thereupon deliver or pay it over to the
8 estate of the minor.
9 * * *
10 Section 2. Subsection (d) of section 8 of the act, amended
11 June 24, 1968 (Act No. 114), is amended to read:
12 Section 8. Resignation, Death or Removal of Custodian Bond;
13 Designation of Successor Custodian.--* * *
14 (d) If a person designated as custodian or as successor
15 custodian by the custodian as provided in subsection (a) is not
16 eligible, dies or becomes legally incapacitated before the minor
17 attains the age of [twenty-one] eighteen years and if the minor
18 has a guardian, the guardian of the minor shall be successor
19 custodian. If the minor has no guardian and if no successor
20 custodian who is eligible and has not died or become legally
21 incapacitated has been designated as provided in subsection (a),
22 a donor, his legal representative, the legal representative of
23 the custodian, or an adult member of the minor's family may
24 petition the court for the designation of a successor custodian.
25 * * *
G14L22JR/19710H1686B2090 - 2 -