Section 13.46.990. Definitions.

In this chapter,
        (1) "adult" means an individual who has attained the age of 18 years;
        (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 account 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 the superior court;
        (6) "custodial property" means
             (A) an interest in property transferred to a custodian under this chapter; and
             (B) the income from and proceeds of that interest in property;
        (7) "custodian" means a person designated under AS 13.46.080 or a successor or substitute custodian designated under AS 13.46.170;
        (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 has not attained the age of 18 years, except that, when used in reference to the beneficiary for whose benefit custodial property is held or to be held, "minor" means an individual who has not attained the age at which the custodian is required under AS 13.46.190, 13.46.195, and 13.46.197 to transfer the custodial property to the beneficiary;
        (12) "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;
        (13) "state" includes a 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;
        (14) "transfer" means a transaction that creates custodial property under AS 13.46.080;
        (15) "transferor" means a person who makes a transfer under this chapter;
        (16) "trust company" means a financial institution, corporation, or other legal entity, authorized to exercise general trust powers.

Authorities

13.46.085

Notes

References

AS 13.46.085 Native corporations; custodians.

History

(Sec. 2 ch 11 SLA 1990; am Sec. 35 ch 45 SLA 2013)