§ 33A-1. Definitions. - North Carolina Statutes

Chapter33A.

North Carolina UniformTransfers to Minors Act

§ 33A‑1.  Definitions.

In this Chapter:

(1)        "Adult"means an individual who has attained the age of 21 years.

(2)        "Benefitplan" 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 insecurities or commodities for the person's own account or for the account ofothers.

(4)        "Court"means the clerk of the superior court of the several counties of the State.

(5)        "Custodialproperty" means (i) any interest in property transferred to a custodianunder this Chapter and (ii) the income from and proceeds of that interest inproperty.

(6)        "Custodian"means a person so designated under Section 33A‑9 or a successor orsubstitute custodian designated under Section 33A‑18.

(7)        "Financialinstitution" means a bank, trust company, savings and loan associations orother savings institutions, or credit union, chartered and supervised underState or federal law.

(8)        "Guardian"means a person appointed or qualified by a court to act as general, limited, ortemporary guardian of a minor's property or a person legally authorized toperform substantially the same functions.

(9)        "Legalrepresentative" means an individual's personal representative or guardian.

(10)      "Member of theminor's family" means the minor's parent, 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 21 years.

(12)      "Person"means an individual, corporation, organization, or other legal entity.

(13)      "Personalrepresentative" means an executor, administrator, successor personalrepresentative, collector, or special administrator of a decedent's estate or aperson legally authorized to perform substantially the same function.

(14)      "State"includes any state of the United States, the District of Columbia, theCommonwealth of Puerto Rico, and any territory or possession subject to thelegislative authority of the United States.

(15)      "Transfer"means a transaction that creates custodial property under G.S. 33A‑9.

(16)      "Transferor"means a person who makes a transfer under this Chapter.

(17)      "Trustcompany" means a financial institution, corporation, or other legalentity, authorized to exercise general trust powers. (1987,c. 563, s. 2.)