California Probate Code

§ 3412

PROB § 3412 Effective Jan 1, 2005Div. 4 · Part 8 · Ch. 2 · Art. 2

Statute text

If the minor has a guardian of the estate and the sole asset of the guardianship estate is money, the court may order that the guardianship of the estate be terminated and, if the court so orders, the court in its discretion shall also order any one or more of the following:

(a)That the money be deposited in an insured account in a financial institution in this state, or in a single-premium deferred annuity, subject to withdrawal only upon authorization of the court.

(b)That all or any part of the money be transferred to a custodian for the benefit of the minor under the California Uniform Transfers to Minors Act, Part 9 (commencing with Section 3900).

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Legislative history

Amended by Stats. 2004, Ch. 67, Sec. 1. Effective January 1, 2005.