ORS 126.826¹
Irrevocable transfer by person holding property of or owing liquidated debt to minor

(1) Subject to subsections (2) and (3) of this section, a person not subject to ORS 126.819 (Irrevocable transfer by personal representative or trustee to custodian) or 126.822 (Transfer to custodian in absence of authorization) who holds property of or owes a liquidated debt to a minor not having a conservator may make an irrevocable transfer to a custodian for the benefit of the minor pursuant to ORS 126.832 (Creation and transfer of custodial property).

(2) If a person having the right to do so under ORS 126.812 (Nomination of custodian) has nominated a custodian under that section to receive the custodial property, the transfer must be made to that person.

(3) If no custodian has been nominated under ORS 126.812 (Nomination of custodian) or all persons so nominated as custodian die before the transfer or are unable, decline or are ineligible to serve, a transfer under this section may be made to an adult member of the minor’s family or to a trust company unless the property exceeds $5,000 in value. [1985 c.665 §8]

1 Legislative Counsel Committee, CHAPTER 126—Property Held for the Benefit of Minors; Uniform Transfers to Minors Act, https://­www.­oregonlegislature.­gov/­bills_laws/­ors/­ors126.­html (2019) (last ac­cessed May 16, 2020).
2 OregonLaws.org contains the con­tents of Volume 21 of the ORS, inserted along­side the per­tin­ent statutes. See the preface to the ORS An­no­ta­tions for more information.
3 OregonLaws.org assembles these lists by analyzing references between Sections. Each listed item refers back to the current Section in its own text. The result reveals relationships in the code that may not have otherwise been apparent. Currency Information