Alaska Statutes.
Title 13. Decedents' Estates, Guardianships, Transfers, and Trusts.
Chapter 46. Alaska Uniform Transfers to Minors Act
Section 990. Definitions.
previous: Section 220. Uniformity of Application and Construction.
next: Section 999. Short Title.

AS 13.46.990. Definitions.

In this chapter
        (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 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;
        (6) "custodial property" means
             (A) an interest in property transferred to a custodian under this chapter; and
             (B) the income from and proceeds of that interest in property;
        (7) "custodian" means a person designated under AS 13.46.080 or a successor or substitute custodian designated under AS 13.46.170;
        (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 has not attained the age of 18 years, except that when used in reference to the beneficiary for whose benefit custodial property is held or to be held, "minor" means an individual who has not attained the age at which the custodian is required under AS 13.46.190, 13.46.195 and 13.46.197 to transfer the custodial property to the beneficiary;
        (12) "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;
        (13) "state" includes a 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;
        (14) "transfer" means a transaction that creates custodial property under AS 13.46.080;
        (15) "transferor" means a person who makes a transfer under this chapter;
        (16) "trust company" means a financial institution, corporation, or other legal entity, authorized to exercise general trust powers.

All content © 2024 by Touch N' Go/Bright Solutions, Inc.

Note to HTML Version:

This version of the Alaska Statutes is current through December, 2022. The Alaska Statutes were automatically converted to HTML from a plain text format. Every effort has been made to ensure their accuracy, but this can not be guaranteed. If it is critical that the precise terms of the Alaska Statutes be known, it is recommended that more formal sources be consulted. For statutes adopted after the effective date of these statutes, see, Alaska State Legislature If any errors are found, please e-mail Touch N' Go systems at E-mail. We hope you find this information useful.