Maine Revised Statutes

§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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