§ 385.012

385.012 Definitions. As used in KRS 385.022 to 385.222: (1) 'Adult' means an individual who has attained the age of eighteen (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 se curities or commodities for the person's 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 a person legally authorized to perform substantially the same functions; (5) 'Court' means District Court; (6) 'Custodial property' means: (a) Any interest in property transferred to a custodian under KRS 385.032 to 385.222; and (b) The income from and proceeds of that interest in prope rty; (7) 'Custodian' means a person so designated under KRS 385.092; or a successor or substitute custodian designated under KRS 385.182; (8) 'Financial institution' means a bank, trust company savings institution or credit union, chartered and supervised under state or federal law; (9) 'Legal representative' means an individual's personal representative or

tion' means a bank, trust company savings institution or credit union, chartered and supervised under state or federal law; (9) 'Legal representative' means an individual's personal representative or conservator; (10) 'Member of the minor's family' means the minor's parent, step -parent, spouse, grandparent, brother, sister, uncle, or aunt, whether of the whole or half blood or by adoption; (11) 'Minor' means an individual who has not attained the age of eighteen (18) years; (12) 'Person' means an individual, 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 a person legally authorized to perform substantially the same functions; (14) 'State' includes any state of th e United States, the District of Columbia, the Commonwealth of Puerto Rico, and any territory or possession subject to the legislative authority of the United States; (15) 'Transfer' means a transaction that creates custodial property under KRS 385.092; (16) 'Transferor' means a person who makes a transfer under KRS 385.032 to 385.222; (17) 'Trust company' means a

(15) 'Transfer' means a transaction that creates custodial property under KRS 385.092; (16) 'Transferor' means a person who makes a transfer under KRS 385.032 to 385.222; (17) 'Trust company' means a financial institution, corporation, or other legal entity, authorized to exercise general trust powers. Effective: July 15, 1986 History: Created 1986 Ky. Acts ch. 182, sec. 1, effective July 15, 1986.