Page:United States Statutes at Large Volume 76.djvu/987

 76

PUBLIC LAW 87-821-OCT. 15, 1962

STAT.]

939

terest or instrument commonly known as a security, or any certificate of interest of participation in, any temporary or interim certificate, receipt, or certificate of deposit for, or any warrant or ri^ht to subscribe to or purchase, any of the foregoing. 'Security' does not include a security of which the donor is the issuer. A 'security' is in 'registered form' when it specifies a person entitled to it or to the right it evidences and its transfer may be registered upon books maintained for that purpose by or on behalf of the issuer. "(14) 'Transfer agent': one who acts as authenticating trustee, transfer agent, registrar, or other agent for an issuer in the registration of transfers of its securities or in the issue of new securities or in the cancellation of surrendered securities. "(15) 'Trust company': a bank authorized to exercise trust powers. "SEC. 2. (a) An adult may, during his lifetime, make a gift of a Registration or delivery. security, money, life insurance or annuity contract to one who is a "" " minor on the date of the gift, if the subject of the gift is a security— "(1) in registered form, by registering it in the name of the donor, another adult, or a trust company, followed, in substance, by the words: 'as custodian for (name of minor) under the District of Columbia Uniform Gifts to Minors Act'; "(2) not in registered form, by delivering it to an adult other than the donor or a trust company, accompanied by a statement of gift in the following form, in substance, signed by the donor and the designated custodian: "GIFT UNDER THE DISTRICT OF COLUMBIA UNIFORM GIFTS TO MINORS ACT "I, (name of donor), hereby deliver to (name of custodian) as custodian for (name of minor) under the District of Columbia Uniform (lifts to Minors Act, the following security(ies); (insert an appropriate description of the security or securities delivered suflScient to identify it or them). (signature of donor)

Dated: (Name of custodian) hereby acknowledges receipt of the above described security (ies) as custodian for the above minor under the above Act. (signuture of custodian) Dated:

"(3) If the subject of the gift is a life insurance or annuity contract, the ownership of the contract shall be registered by the donor of such contract in his own name or in the name of an 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) under the District of Columbia Uniform Gifts to Minors Act', and such contract shall be delivered to the person in whose name it is thus registered as custodian. If the contract is registered in the name of the donor, as custodian, such registration shall of itself constitute the delivery required by this section. " (4) If the subject of the gift is money, by paying or delivering it to a broker or a bank for credit to an account in the name of the donor, another adult, or a bank with trust powers, followed, in substance, by the words: 'as custodian for (name of minor) under the District of Columbia Uniform Gifts to Minors Act'. " (b) Any gift made in the manner prescribed in subsection (a) may be made to only one minor.

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