404.410. Definitions.

MISSOURI STATUTES AND CODES

Definitions.

404.410. As used in sections 404.400 to 404.660, unless thecontext otherwise requires, the following terms shall mean:

(1) "Adult", an individual who has attained the age ofeighteen years, notwithstanding that an adult may be of adifferent age under sections 404.005 to 404.094, the Missouritransfers to minors law;

(2) "Beneficiary", a person for whom property has beentransferred to a personal custodian under sections 404.400 to404.650 for the beneficiary's use and benefit;

(3) "Benefit plan", any plan, contract, trust or account forthe benefit of employees, partners, members of an organization oran individual, in which a person may designate a beneficiary fora plan benefit. The term "benefit plan" is also used to refer tothe fiduciary administering the plan;

(4) "Broker", a person lawfully engaged in the business ofeffecting transactions in securities or commodities for thebroker's own account or the account of others;

(5) "Conservator", a person appointed or qualified by acourt to have care and custody of the estate of a disabled orincapacitated person, whether denominated as general, limited ortemporary conservator, or a person legally authorized to performsubstantially the same functions;

(6) "Court", the circuit court, including the probatedivision of the circuit court;

(7) "Custodial property", all property belonging to abeneficiary in the possession and control of a personal custodianunder sections 404.400 to 404.650, and includes the income andproceeds of that property;

(8) "Donor", a transferor who makes a present or future giftof property to a beneficiary by a transfer under sections 404.400to 404.650 and includes a person who holds a power of appointmentto make a gift of the donor's property in a similar manner;

(9) "Financial institution", a bank, trust company, savingsand loan company or association, or credit union chartered andsupervised under state or federal law;

(10) "Guardian", a person appointed or qualified by a courtto have care and custody of the person of an incapacitatedperson, whether denominated as general, limited or temporaryguardian, or a person legally authorized to perform substantiallythe same functions;

(11) "Incapacitated person", a person who is wholly orpartially unable by reason of any physical or mental condition toreceive and evaluate information or to communicate decisions tosuch an extent that the person lacks ability or capacity tomanage his financial resources and is a disabled or incapacitatedperson as defined in section 475.010, RSMo;

(12) "Legal representative", a decedent's personalrepresentative, the guardian of a person or the conservator ofthe estate of a person;

(13) "Member of the beneficiary's family", the beneficiary'sparent, grandparent, uncle, aunt, brother, sister, son, daughter,grandson, granddaughter and their descendants, whether of thewhole blood or the half blood, or by adoption, and thebeneficiary's spouse, stepparent and stepchild;

(14) "Person", an individual, corporation, organization, orother legal entity;

(15) "Personal custodian", a person so designated in amanner prescribed in sections 404.400 to 404.650 and includes asubstitute personal custodian and successor personal custodian;

(16) "Personal representative", an executor, administrator,successor personal representative, independent personalrepresentative or special administrator of a decedent's estate,whether court appointed or qualified, or a person legallyauthorized to perform substantially the same functions;

(17) "Property", any present or future interest in property,real or personal, tangible or intangible, legal or equitable andincludes the income and proceeds of that interest in property;

(18) "State", any state of the United States, the Districtof Columbia, the Commonwealth of Puerto Rico, and any territoryor possession subject to the legislative authority of the UnitedStates;

(19) "Transferor", a person who transfers property to abeneficiary under sections 404.400 to 404.650.