Section 75-5a-102 - [Renumbered Effective 9/1/2024] DefinitionsAs used in this part:
(1) "Adult" means an individual who is 21 years old or older.(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 the person's own account or for the accounts 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 a court with jurisdiction under Title 78A, Judiciary and Judicial Administration.(6) "Custodial property" means:(a) any interest in property transferred to a custodian under this part; and(b) the income from and proceeds of that interest in property.(7) "Custodian" means a person so designated under Section 75-5a-110 or a successor or substitute custodian designated under Section 75-5a-119.(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 conservator.(10) "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.(11) "Minor" means an individual who is under 21 years old.(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 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.(15) "Transfer" means a transaction that creates custodial property under Section 75-5a-l 10.(16) "Transferor" means a person who makes a transfer under this part.(17) "Trust company" means a financial institution, corporation, or other legal entity, authorized to exercise general trust powers.Renumbered as § 75A-8-102 by Chapter 364, 2024 General Session ,§ 208, eff. 9/1/2024.Amended by Chapter 158, 2024 General Session ,§ 120, eff. 7/1/2024.Enacted by Chapter 272, 1990 General Session