For purposes of this chapter the term:

(1) “Adult” means an individual who has attained the age of 18 years.

(2) “Benefit plan” means an employer’s plan for the benefit of an employee or a 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 account 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 Superior Court of the District of Columbia.

(6) “Custodial property” means 1 of the following:

(A) Any interest in property transferred to a custodian under this chapter; and

(B) The income from and the proceeds of that interest in property.

(7) “Custodian” means a person so designated under section 21-309 or a successor or substitute custodian designated under section 21-318.

(8) “District” means the District of Columbia.

(9) “Financial institution” means a bank, trust company, savings institution, or credit union, chartered and supervised under state or federal law.

(10) “Legal representative” means an individual’s personal representative or conservator.

(11) “Member of the minor’s family” means the minor’s parent, step-parent, spouse, grandparent, brother, sister, uncle, or aunt, whether of the whole or half blood or by adoption.

(12) “Minor” means an individual who has not reached the age of 18 years.

(13) “Person” means an individual, a corporation, an organization, or other legal entity.

(14) “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.

(15) “State” includes any state of the United States, the District of Columbia, the Commonwealth of Puerto Rico, and a territory or possession subject to the legislative authority of the United States.

(16) “Transfer” means a transaction that creates custodial property under section 21-309.

(17) “Transferor” means a person who makes a transfer under this act.

(18) “Trust company” means a financial institution, a corporation, or other legal entity authorized to exercise general trust powers.

(Mar. 12, 1986, D.C. Law 6-87, § 2(a), 33 DCR 278.)

1981 Ed., § 21-301.

This section is referenced in § 21-322.

Payment of lottery prize by or on behalf of minor, see § 3-1335.

“This act”, referred to in paragraph (17), is the District of Columbia Uniform Transfers to Minors Act, D.C. Law 6-87 which is codified primarily as § 21-301 et seq.

Uniform Law: This section is based upon § 1 of the Uniform Transfers to Minors Act.