[As used in the Uniform Transfers to Minors Act [46-7-11 to 46-7-34 NMSA 1978]:] A. 'adult' means an individual who has attained the age of twenty-one years; B. 'benefit plan' means an employer's plan for the benefit of an employee or partner; C. 'broker' means a person lawfully engaged in the business of effecting transactions in securities or commodities for the person's own account or for the account of others; D. '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; E. 'court' means the district court; F. 'custodial property' means: (1) any interest in property transferred to a custodian under the Uniform Transfers to Minors Act; and (2) the income from and proceeds of that interest in property; G. 'custodian' means a person so designated under Section 10 [46-7-20 NMSA 1978] of the Uniform Transfers to Minors Act or a successor or substitute custodian designated under Section 19 [46-7-29 NMSA 1978] of that act; H. 'financial institution' means a bank, trust company, savings institution or credit union chartered and uccessor or substitute custodian designated under Section 19 [46-7-29 NMSA 1978] of that act; H. 'financial institution' means a bank, trust company, savings institution or credit union chartered and supervised under state or federal law; I. 'legal representative' means an individual's personal representative or conservator; J. 'member of the minor's family' means the minor's parent, stepparent, spouse, grandparent, brother, sister, uncle or aunt, whether of the whole or half blood or by adoption; K. 'minor' means an individual who has not attained the age of twenty-one years; L. 'person' means an individual, corporation, organization or other legal entity; M. 'personal representative' means an executor, administrator, successor, personal representative or special administrator of a decendent's [decedent's] estate or a person legally authorized to perform substantally [substantially] the same functions; N. 'state' includes any state of the 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; O. state' includes any state of the 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; O. 'transfer' means a transaction that creates custodial property under Section 10 of the Uniform Transfers to Minors Act; P. 'transferor' means a person who makes a transfer under that act; and Q. 'trust company' means a financial institution, corporation, or other legal entity authorized to exercise general trust powers. History: Laws 1989, ch. 357, § 2. ANNOTATIONSBracketed material. — As this act appears in the Session Laws, the phrase 'As used in the Uniform Transfers to Minors Act:' inadvertently appeared at the end of 46-7-11 NMSA 1978. For purposes of clarity, the compiler has transferred that phrase, in brackets, to the beginning of this section. The bracketed material in Subsection M was inserted by the compiler and is not part of the law.
New Mexico Legal Code