Page:United States Statutes at Large Volume 70.djvu/1084

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PUBLIC L:AW 976-AUG. 3, 1966

[70 S T A T.

Public Law 976 August 3, 1956 [H. R. 11090]

CHAPTER 947

AN ACT Concerning gifts of securities to minors in the District of Columbia.

Be it enacted by the Senate and House of Representatives of the Gifts o f securi_ t i e s to m i n o r s in United States of America in Congress assembi-ed, That (a) with D.'c. - —— j.ggpgp^ ^Q Yie District of Columbia, any adult person may make a gift of securities to a person who has not attained the age of 21 years on the date of the gift (hereinafter referred to as the "minor") in the following manner: Registration. M) Securities, if in registered form, shall be registered by the donor in nis own name or in the name of any adult member of the minor's family or in the name of any guardian of the minor, followed by the words "as custodian, for, •

(Name of minor)

a minor, under the laws of the District of Columbia", and the securities shall be delivered to the person in whose name they are thus registered as custodian. If the securities are thus registered in the name of the donor as custodian such registration shall of itself constitute the delivery required by this section. of^ftT**^' ****** (2) Securities, if in bearer form, shall be delivered by the donor to any adult member of the minor's family, other than the donor, or to any guardian of the minor, accompanied by a deed of gift duly acknowledged in substantially the following form, signed by the donor and the person designated therein as custodian: DEED OF GIFT UNDER THE LAWS OF THE DISTRICT OF COLUMBIA I,

,

do hereby deliver to (Name of donor)

, as custodian for (Name of custodian)

, a minor, under the (Name of minor)

laws of the District of Columbia, the following security (ies): Principal amount $, of the (Description of

Serial number of security security)

or , representing stock of

Certificate No, (Class or type of stock)

shares of the (Name of company) (Signature of donor)

I,

, do hereby acknowl(Name of custodian)

edge receipt of the above described security (ies). (Signature of custodian)

Dated:

(b) The person designated as a custodian under this section is hereinafter called "the custodian". SEC. 2. A gift made in the manner prescribed in the first section of this Act shall be irrevocable and shall convey to the minor indefeasibly vested legal title to the securities thus delivered, but no guardian of the person or property of the minor shall have any rights, duties or authority with respect to any property held at any time by the cus-

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