44-5-111. Definitions.

As used in this article, the term:

‘‘Adult’’ means an individual who has attained the age of 21 years.#

‘‘Benefit plan’’ means an employer’s plan for the benefit of an employee or partner or an individual retirement account.#

‘‘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.#

‘‘Court’’ means the probate court in the county where the minor resides, or, if the minor is not a resident of this state, the probate court in the county where the custodian resides or has his principal place of business or where the custodial property is located.#

‘‘Custodial property’’ means any interest in property transferred to a custodian under the authority of this article and the income from and proceeds of that interest in property.#

‘‘Custodian’’ means a person so designated under Code Section 44-5-119 or a successor or substitute custodian designated under Code Section 44-5-128.#

‘‘Financial institution’’ means a bank, trust company, national banking association, industrial bank, savings institution, or credit union chartered and supervised under state or federal law.#

‘‘Guardian’’ 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.#

‘‘Legal representative’’ means an individual’s personal representative or guardian.#

‘‘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.#

‘‘Minor’’ means an individual who has not attained the age of 21 years.#

‘‘Person’’ means an individual, corporation, organization, or other legal entity.#

‘‘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.#

‘‘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.#

‘‘Transfer’’ means a transaction that creates custodial property under Code Section 44-5-119.#

‘‘Transferor’’ means a person who makes a transfer under the authority of this article.#

‘‘Trust company’’ means a financial institution, corporation, or other legal entity authorized to exercise general trust powers in this state.#