Definitions. In this chapter, unless the context otherwise requires:
1. “Adult” means a person who has attained the age of 18 years.
2. “Benefit plan” means an employer’s plan for the benefit of an employee or partner.
3. “Broker” means a person lawfully engaged in the business of effecting transactions in securities or commodities for his own account or for the account of others.
4. “Conservator” means a person appointed or qualified by a court to act as general, limited or temporary guardian of a minor’s property or any other person legally authorized to perform substantially the same functions.
5. “Court” means the district court.
6. “Custodial property” means:
(a) Any interest in property transferred to a custodian in a manner prescribed in this chapter; and
(b) The income from and the proceeds of that interest in property.
7. “Custodian” means a person so designated in a manner prescribed in this chapter. The term includes a successor or substitute custodian.
8. “Financial institution” means a bank, trust company, savings institution or credit union chartered and supervised under federal law or the laws of a state.
9. “Legal representative” means a personal representative or conservator.
10. “Member of a minor’s family” means a minor’s parent, stepparent, spouse, grandparent, brother, sister, uncle or aunt, whether of the whole blood or the half blood, or by or through legal adoption.
11. “Minor” means a person who has not attained the age of 18 years.
12. “Person” means any natural person, corporation, organization or other legal entity.
13. “Personal representative” means an executor, administrator, successor personal representative or special administrator of a decedent’s estate or any other person legally authorized to perform substantially the same functions.
14. “State” means any state of the United States, the District of Columbia, the Commonwealth of Puerto Rico or any territory or possession subject to the legislative authority of the United States.
15. “Transfer” means a transaction which creates custodial property in a manner prescribed in this chapter.
16. “Transferor” means a person who makes a transfer in a manner prescribed in this chapter.
17. “Trust company” means a financial institution, corporation or other legal entity authorized to exercise general trust powers.
Last modified: February 25, 2006