§ 55-10a-1

55-10A-1. Definitions.Terms used in this chapter mean:(1)'Adult,' a person who has attained the age of eighteen years;(2)'Benefit plan,' an employer's plan for the benefit of an employee or partner;(3)'Broker,' 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;(4)'Conservator,' a person appointed or qualified by a court to act as general, limited or temporary conservator of a minor's property or a person legally authorized to perform substantially the same functions;(5)'Custodial property,' any interest in property transferred to a custodian under this chapter and the income from and proceeds of that interest in property;(6)'Custodian,' a person so designated under §55-10A-9 or a successor or substitute custodian designated under §55-10A-18;(7)'Financial institution,' a bank, trust company, savings institution or credit union, chartered and supervised under state or federal law;(8)'Legal representative,' an individual's personal representative or conservator;(9)'Member of the minor's family,' the minor's parent, stepparent, spouse, grandparent, brother, sister, uncle or aunt,

)'Legal representative,' an individual's personal representative or conservator;(9)'Member of the minor's family,' the minor's parent, stepparent, spouse, grandparent, brother, sister, uncle or aunt, whether of the whole or half blood or by adoption;(10)'Minor,' a person who has not attained the age of eighteen years;(11)'Personal representative,' 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;(11A)'Qualified minor's trust,' a trust, including a trust created by a custodian, of which a minor is the sole income beneficiary and that satisfies the requirements of Section 2503(c) of the Federal Internal Revenue Code of 1986 and the regulations implementing that section;(12)'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;(13)'Transfer,' a transaction that creates custodial property under §55-10A-9;(14)'Transferor,' a person who makes a transfer under this chapter; and(15)'Trust company,' a financial

the United States;(13)'Transfer,' a transaction that creates custodial property under §55-10A-9;(14)'Transferor,' a person who makes a transfer under this chapter; and(15)'Trust company,' a financial institution, corporation or other legal entity, authorized to exercise general trust powers. Source: SL 1986, ch 409, §1; SL 1993, ch 213, §256; SL 2008, ch 257, §13.