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2020 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 (2020)
75-5a-102. Definitions.
As used in this part:
Enacted by Chapter 272, 1990 General Session
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
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