2019 Delaware Code
Title 12 - Decedents' Estates and Fiduciary Relations
Chapter 45. Delaware Uniform Transfers to Minors Act
§ 4501 Definitions.

Universal Citation: 12 DE Code § 4501 (2019)

In this chapter:

(1) “Adult” means an individual who has attained the age of 21 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) “Court” means Court of Chancery.

(5) “Custodial property” means (i) any interest in property transferred to a custodian under this chapter and (ii) the income from and proceeds of that interest in property.

(6) “Custodian” means a person so designated under § 4509 of this title or a successor or substitute custodian designated under § 4518 of this title.

(7) “Financial institution” means a bank, trust company, savings institution or credit union, chartered and supervised under state or federal law.

(8) “Guardian” means a person appointed or qualified by a court to act as general, limited or temporary guardian or conservator of a minor’s property.

(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 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) “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 any 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.

(15) “Transfer” means a transaction that creates custodial property under § 4509 of this title.

(16) “Transferor” means a person who makes a transfer under this chapter.

(17) “Trust company” means a financial institution, corporation or other legal entity authorized to exercise general trust powers.

70 Del. Laws, c. 393, § 1; 70 Del. Laws, c. 186, § 1; 71 Del. Laws, c. 196, § 1; 74 Del. Laws, c. 269, § 1.

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