Chapter 32: MAINE UNIFORM TRANSFERS TO MINORS ACT HEADING: PL 1987, C. 734, §2 (NEW)
§1652. Definitions
As used in this Act, unless the context otherwise indicates, the following terms have the following meanings. [1987, c. 734, §2 (NEW).]
1.Adult.
"Adult" means an individual who has attained 18 years of age.
[
1989, c. 502, Pt. A, §117 (AMD)
.]
2.Benefit plan.
"Benefit plan" means an employer's plan for the benefit of an employee or partner.
[
1987, c. 734, §2 (NEW)
.]
3.Broker.
"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.
[
1987, c. 734, §2 (NEW)
.]
4.Conservator.
"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.
[
1987, c. 734, §2 (NEW)
.]
5.Court.
"Court" means the Probate Court.
[
1987, c. 734, §2 (NEW)
.]
6.Custodial property.
"Custodial property" means any interest in property transferred to a custodian under this Act and the income from and proceeds
of that interest in property.
[
1987, c. 734, §2 (NEW)
.]
7.Custodian.
"Custodian" means a person so designated under section 1660 or a successor or substitute custodian designated under section
1669.
[
1987, c. 734, §2 (NEW)
.]
8.Financial institution.
"Financial institution" means a bank, trust company, savings institution or credit union, chartered and supervised under
state or federal law.
[
1987, c. 734, §2 (NEW)
.]
9.Legal representative.
"Legal representative" means an individual's personal representative or conservator.
[
1987, c. 734, §2 (NEW)
.]
10.Member of the minor's family.
"Member of the minor's family" means the minor's parent, step-parent, spouse, grandparent, brother, sister, uncle or aunt
whether of whole or 1/2 blood or by adoption.
[
1987, c. 734, §2 (NEW)
.]
11.Minor.
"Minor" means an individual who has not attained 18 years of age.
[
1987, c. 734, §2 (NEW)
.]
12.Person.
"Person" means an individual, corporation, organization or other legal entity.
[
1987, c. 734, §2 (NEW)
.]
13.Personal representative.
"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.
[
1987, c. 734, §2 (NEW)
.]
14.State.
"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.
[
1987, c. 734, §2 (NEW)
.]
15.Transfer.
"Transfer means a transaction that creates custodial property under section 1660.
[
1987, c. 734, §2 (NEW)
.]
16.Transferor.
"Transferor" means a person who makes a transfer under this Act.
[
1987, c. 734, §2 (NEW)
.]
17.Trust company.
"Trust company" means a financial institution, corporation or other legal entity authorized to exercise general trust powers.
[
1987, c. 734, §2 (NEW)
.]
SECTION HISTORY
1987, c. 734, §2 (NEW).
1989, c. 502, §A117 (AMD).
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