Section 7-6.1. Definitions

In this part:
    (a) "Adult" means an individual who has attained the age of twenty-one
  years.
    (b)  "Benefit  plan"  means  an  employer's plan for the benefit of an
  employee or partner or an individual retirement account.
    (c) "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.
    (d)  "Court" means   the supreme court or the surrogate's court having
  jurisdiction over the minor.
    (e)  "Custodial  property"  means  (i)  any   interest   in   property
  transferred  to a custodian under this part and (ii) the income from and
  proceeds of that interest in property.
    (f) "Custodian"  means  a  person  so  designated  under  7-6.9  or  a
  successor or substitute custodian designated under 7-6.18.
    (g)  "Financial  institution"  means  a  bank,  trust company, savings
  institution, or credit union, chartered and supervised  under  state  or
  federal law.
    (h) "Guardian" 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.
    (i)   "Legal   representative"   means   an   individual's    personal
  representative or guardian.
    (j)  "Member  of the minor's family" means any of the minor's parents,
  stepparents, spouse, grandparents, brothers, sisters, uncles, and aunts,
  whether of the whole  blood  or  half  blood  or  by  or  through  legal
  adoption.
    (k)  "Minor"  means  an  individual  who  has  not attained the age of
  twenty-one years.
    (l) "Person" means an individual, corporation, organization, or  other
  legal entity.
    (m)  "Personal representative" means a person who has received letters
  to administer the estate of a decedent or a person legally authorized to
  perform substantially the same functions.
    (n) "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.
    (o) "Transfer" means a transaction  that  creates  custodial  property
  under 7-6.9.
    (p) "Transferor" means a person who makes a transfer under this part.
    (q)  "Trust  company"  means  a financial institution, corporation, or
  other legal entity, authorized to exercise general trust powers in  this
  state.