Except as provided in ORS 126.872, the custodian shall transfer in an appropriate manner the custodial property to the beneficiary or to the beneficiary’s estate upon the earlier of:

1. (1) The beneficiary’s attainment of 21 years of age with respect to custodial property transferred under ORS 126.816 or 126.819;
2. (2) The beneficiary’s attainment of 18 years of age with respect to custodial property transferred under ORS 126.822 or 126.826; or
3. (3) The beneficiary’s death.

[1985 c.665 §21; 2001 c.244 §6; 2005 c.349 §15]