2015 Arizona Revised Statutes
Title 14 - Trusts, Estates and Protective Proceedings
§ 14-7651 Definitions

14-7651. Definitions

In this article, unless the context otherwise requires:

1. " Adult" means a person who is at least twenty-one years of age.

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 a 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 an interest in property that is transferred to a custodian pursuant to this article and income from and proceeds of that interest in property.

7. " Custodian" means a person designated pursuant to section 14-7659 or a successor or substitute custodian designated pursuant to section 14-7668.

8. " Financial institution" means a bank, trust company, savings institution or credit union, which is 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 a person under the age of twenty-one years.

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

13. " 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.

14. " State" includes a state of the United States, the District of Columbia, the Commonwealth of Puerto Rico and a territory or possession subject to the legislative authority of the United States.

15. " Street name or nominee name" means registration used by a broker or financial institution for holding securities if they are not registered in the name of the beneficial owner.

16. " Transfer" means a transaction that creates custodial property pursuant to section 14-7659.

17. " Transferor" means a person who makes a transfer pursuant to this article.

18. " Trust company" means a financial institution, corporation or other legal entity, which is authorized to exercise general trust powers.