The custodian shall transfer in an appropriate manner the custodial property to the minor or to the minor’s estate upon the earlier of:

(1)        The minor’s attainment of 21 years of age with respect to custodial property transferred under N.C. Gen. Stat. § 33A-4 or N.C. Gen. Stat. § 33A-5, except that any transferor may have custodial property transferred to the minor at any time after the age of 18 and before the age of 21 by a designation in the following words or their equivalent:? “The custodian shall transfer this property to _______? (name of minor) when he reaches the age of ___ (age after 18 and before 21).”;

(2)        The minor’s attainment of age 18 with respect to custodial property transferred under N.C. Gen. Stat. § 33A-6 or N.C. Gen. Stat. § 33A-7; or

(3)        The minor’s death. (1987, c. 563, s. 2.)