2019 Utah Code
Title 75 - Utah Uniform Probate Code
Chapter 5a - Uniform Transfers to Minors Act
Section 102 - Definitions.

Universal Citation: UT Code § 75-5a-102 (2019)
75-5a-102. Definitions.
As used in this part:
  • (1) "Adult" means an individual who is 21 years of age or older.
  • (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 accounts 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 probate division of the district court for the county in which the custodian resides.
  • (6) "Custodial property" means:
    • (a) any interest in property transferred to a custodian under this part; and
    • (b) the income from and proceeds of that interest in property.
  • (7) "Custodian" means a person so designated under Section 75-5a-110 or a successor or substitute custodian designated under Section 75-5a-119.
  • (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 is not yet 21 years of age.
  • (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 Section 75-5a-110.
  • (16) "Transferor" means a person who makes a transfer under this part.
  • (17) "Trust company" means a financial institution, corporation, or other legal entity, authorized to exercise general trust powers.

Enacted by Chapter 272, 1990 General Session
Disclaimer: These codes may not be the most recent version. Utah may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.