Current through the 2024 Budget Session
Section 34-13-114 - Definitions(a) As used in this act: (i) "Adult" means an individual who has attained the age of twenty-one (21) years;(ii) "Benefit plan" means an employer's plan for the benefit of an employee or partner;(iii) "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;(iv) "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;(v) "Court" means the district court;(vi) "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;(vii) "Custodian" means a person so designated under W.S. 34-13-122 or a successor or substitute custodian designated under W.S. 34-13-131;(viii) "Financial institution" means a bank, trust company or a savings institution or credit union chartered and supervised under state or federal law;(ix) "Legal representative" means an individual's personal representative or conservator;(x) "Member of the minor's family" means the minor's parent, stepparent, spouse, grandparent, brother, sister, uncle or aunt, whether of whole or half blood or by adoption;(xi) "Minor" means: (A) An individual who has not attained the age of twenty-one (21) years; or(B) An individual who has not attained the age at which the custodian is required to transfer the custodial property to the beneficiary under W.S. 34-13-133, 34-13-138 or 34-13-139, when used in reference to the beneficiary for whose benefit custodial property is held or is to be held.(xii) "Person" means an individual, corporation, organization or other legal entity;(xiii) "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;(xiv) "Transfer" means a transaction that creates custodial property under W.S. 34-13-122;(xv) "Transferor" means a person who makes a transfer under this act;(xvi) "Trust company" means any legal entity authorized to exercise general trust powers;(xvii) "This act" means W.S. 34-13-114 through 34-13-139.Amended by Laws 2017 , ch. 154, § 2, eff. 7/1/2017.