                                 CODE OF VIRGINIA

DEFINITIONS (§ 64.2-1900)

In this chapter, unless the context otherwise requires:

&#8220;Adult&#8221; means an individual who attained the age of 18 years.

&#8220;Benefit plan&#8221; means an employer&#8217;s plan for the benefit of an
employee or partner.

&#8220;Broker&#8221; means a person lawfully engaged in the business of
effecting transactions in securities or commodities for the person&#8217;s own
account or for the account of others.

&#8220;Conservator&#8221; means a person appointed or qualified by a court to
act as general, limited, or temporary guardian of a minor&#8217;s property or a
person legally authorized to perform substantially the same functions.

&#8220;Court&#8221; means the circuit court having appropriate jurisdiction.

&#8220;Custodial property&#8221; 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.

&#8220;Custodian&#8221; means a person so designated under § 64.2-1908 or a
successor or substitute custodian designated under § 64.2-1917.

&#8220;Financial institution&#8221; means a bank, trust company, savings
institution, or credit union chartered and supervised under state or federal
law.

&#8220;Legal representative&#8221; means an individual&#8217;s personal
representative or conservator.

&#8220;Member of the minor&#8217;s family&#8221; means the minor&#8217;s parent,
stepparent, spouse, grandparent, brother, sister, uncle, or aunt, whether of the
whole or half blood or by adoption.

&#8220;Minor&#8221; means an individual who has not attained the age of 18
years.

&#8220;Person&#8221; means an individual, corporation, organization, or other
legal entity.

&#8220;Personal representative&#8221; means an executor, administrator,
successor personal representative, or special administrator of a
decedent&#8217;s estate or a person legally authorized to perform substantially
the same functions.

&#8220;Qualified minor&#8217;s trust&#8221; means any trust, including a trust
created by a custodian, that meets the requirements of § 2503(c) of the
Internal Revenue Code of 1986 and the regulations implementing that section.

&#8220;State&#8221; 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.

&#8220;Transfer&#8221; means a transaction that creates custodial property under
§ 64.2-1908.

&#8220;Transferor&#8221; means a person who makes a transfer under this chapter.

&#8220;Trust company&#8221; means a financial institution, corporation, or other
legal entity authorized to exercise general trust powers.

HISTORY: 1988, c. 516, § 31-37; 2007, c. 307; 2012, c. 614.