38-1702. Definitions.
38-1702
38-1702. Definitions.In this act:
(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 ofeffecting transactions in securities or commodities for the person's ownaccount or for the account of others.
(4) "Conservator" means a person appointed or qualified by a court toact as general, limited, or temporary guardian of a minor's property or aperson legally authorized to perform substantially the same functions.
(5) "Court" means district court.
(6) "Custodial property" means (i) any interest in property transferredto a custodian under this act and (ii) the income from and proceeds of thatinterest in property.
(7) "Custodian" means a person so designated under K.S.A. 38-1710 or asuccessor or substitute custodian designated under K.S.A. 38-1719.
(8) "Financial institution" means a bank, trust company, savingsinstitution, or credit union, chartered and supervised under state or federal law.
(9) "Legal representative" means an individual's personal representativeor conservator.
(10) "Member of the minor's family" means the minor's parent,stepparent, spouse, grandparent, brother, sister, uncle, or aunt, whether ofthe 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'sestate or a person legally authorized to perform substantially the same functions.
(14) "State" includes any state of the United States, the District ofColumbia, the Commonwealth of Puerto Rico, and any territory or possessionsubject to the legislative authority of the United States.
(15) "Transfer" means a transaction that creates custodial propertyunder K.S.A. 38-1710.
(16) "Transferor" means a person who makes a transfer under this act.
(17) "Trust company" means a financial institution, corporation, orother legal entity, authorized to exercise general trust powers.
History: L. 1985, ch. 143, § 1; July 1.