1. (a) If a transaction, including a declaration with respect to or a transfer of specific property, otherwise satisfies applicable law, the criteria of section 18 of this chapter are satisfied by either of the following:

   1. (1) The execution and either delivery to the custodial trustee or recording of an instrument in substantially the following form:

      TRANSFER UNDER THE

      INDIANA UNIFORM CUSTODIAL TRUST ACT

      I, _______________ (name of transferor or name and representative capacity if a fiduciary), transfer to _______________ (name of trustee other than transferor), as custodial trustee for _______________ (name of beneficiary) as beneficiary and ______________ as distributee on termination of the trust in absence of direction by the beneficiary under the Indiana uniform custodial trust act, the following: (insert a description of the custodial trust property legally sufficient to identify and transfer each item of property).

      Dated: _______________________

      ______________________________

      (Signature)

   2. (2) The execution and the recording or giving notice of its execution to the beneficiary of an instrument in substantially the following form:

      DECLARATION OF TRUST UNDER THE

      INDIANA UNIFORM CUSTODIAL TRUST ACT

      I, _______________ (name of owner of property), declare that henceforth I hold as custodial trustee for _______________ (name of beneficiary other than transferor) as beneficiary and _______________ as distributee on termination of the trust in absence of direction by the beneficiary under the Indiana uniform custodial trust act, the following: (Insert a description of the custodial trust property legally sufficient to identify and transfer each item of property).

      Dated: _______________________

      ______________________________

      (Signature)

2. (b) Customary methods of transferring or evidencing ownership of property may be used to create a custodial trust, including any of the following:

   1. (1) Registration of a security in the name of:

      1. (A) a trust company;
      2. (B) an adult other than the transferor; or

      3. (C) the transferor if the beneficiary is other than the transferor;

         designated in substance "as custodial trustee for _______________ (name of beneficiary) under the Indiana uniform custodial trust act".

   2. (2) Delivery of:

      1. (A) a certificated security, or a document necessary for the transfer of an uncertificated security; and

      2. (B) any necessary endorsement;

         to an adult other than the transferor or to a trust company as custodial trustee, accompanied by an instrument in substantially the form prescribed in subsection (a)(1).

   3. (3) Payment of money or transfer of a security held in the name of a broker or a financial institution or its nominee to a broker or financial institution for credit to an account in the name of:

      1. (A) a trust company;
      2. (B) an adult other than the transferor; or

      3. (C) the transferor if the beneficiary is other than the transferor;

         designated in substance: "as custodial trustee for _______________ (name of beneficiary) under the Indiana uniform custodial trust act".

   4. (4) Registration of ownership of a life or endowment insurance policy or annuity contract with the issuer in the name of:

      1. (A) a trust company;
      2. (B) an adult other than the transferor; or

      3. (C) the transferor if the beneficiary is other than the transferor;

         designated in substance: "as custodial trustee for _______________ (name of beneficiary) under the Indiana uniform custodial trust act".

   5. (5) Delivery of a written assignment to:

      1. (A) an adult other than the transferor; or

      2. (B) a trust company;

         whose name in the assignment is designated in substance by the words: "as custodial trustee for _______________ (name of beneficiary) under the Indiana uniform custodial trust act".

   6. (6) Irrevocable exercise of a power of appointment, pursuant to its terms, in favor of:

      1. (A) a trust company;
      2. (B) an adult other than the donee of the power; or

      3. (C) the donee who holds the power if the beneficiary is other than the donee;

         whose name in the appointment is designated in substance: "as custodial trustee for _______________ (name of beneficiary) under the Indiana uniform custodial trust act".

   7. (7) Delivery of a written notification or assignment of a right to future payment under a contract to an obligor that transfers the right under the contract to:

      1. (A) a trust company;
      2. (B) an adult other than the transferor; or

      3. (C) the transferor if the beneficiary is other than the transferor;

         whose name in the notification or assignment is designated in substance: "as custodial trustee for _______________ (name of beneficiary) under the Indiana uniform custodial trust act".

   8. (8) Execution, delivery, and recordation of a conveyance of an interest in real property in the name of:

      1. (A) a trust company;
      2. (B) an adult other than the transferor; or

      3. (C) the transferor if the beneficiary is other than the transferor;

         designated in substance: "as custodial trustee for _______________ (name of beneficiary) under the Indiana uniform custodial trust act".

   9. (9) Issuance of a certificate of title by an agency of a state or of the United States that evidences title to tangible personal property:

      1. (A) issued in the name of:

         1. (i) a trust company;
         2. (ii) an adult other than the transferor; or

         3. (iii) the transferor if the beneficiary is other than the transferor;

            designated in substance: "as custodial trustee for _______________ (name of beneficiary) under the Indiana uniform custodial trust act"; or

      2. (B) delivered to:

         1. (i) a trust company; or

         2. (ii) an adult other than the transferor or endorsed by the transferor to that person;

            designated in substance: "as custodial trustee for _______________ (name of beneficiary) under the Indiana uniform custodial trust act".

   10. (10) Execution and delivery of an instrument of gift to:

       1. (A) a trust company; or

       2. (B) an adult other than the transferor;

          designated in substance: "as custodial trustee for _______________ (name of beneficiary) under the Indiana uniform custodial trust act".

As added by P.L.3-2003, SEC.1. Amended by P.L.97-2004, SEC.103.