(1) "Adult" means any person who has attained the age of 21 years.
(2) "Beneficiary" means a person for whose benefit a transfer has been made to a custodian.
(3) "Broker" means a person lawfully engaged in the business of effecting transactions in securities or commodities for the account of the person or for others.
(4) "Conservator" means a person appointed or qualified by a court to act as general, limited or temporary guardian of a beneficiary’s property or a person legally authorized to perform substantially the same functions.
(5) "Court" means circuit court.
(6) "Custodial property" includes:
(a) Any interest in property transferred to a custodian under ORS 126.805 to 126.886.
(b) The income from that interest in property.
(7) "Custodian" means the person designated as custodian under ORS 126.812 or a successor or substitute custodian designated under ORS 126.862.
(8) "Financial institution" means a financial institution as defined in ORS 706.008 or a trust company as defined in ORS 706.008.
(9) "Legal representative" means the personal representative or conservator.
(10) "Member of the beneficiary’s family" means the beneficiary’s parent, stepparent, spouse, grandparent, brother, sister, uncle or aunt, whether of the whole blood or the half blood or through legal adoption.
(11) "Minor" means any person who has not attained the age of 21 years.
(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 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.
(14) "Transfer" means a transaction that creates custodial property under ORS 126.832.
(15) "Transferor" means a person who makes a transfer under ORS 126.805 to 126.886.
(16) "Trust company" means a trust company as defined in ORS 706.008. [1959 c.640 §1; 1967 c.300 §1; 1973 c.827 §18; 1981 c.443 §1; 1983 c.457 §1; 1985 c.665 §1; 1997 c.631 §412; 2005 c.349 §1]
Structure 2021 Oregon Revised Statutes
Volume : 03 - Landlord-Tenant, Domestic Relations, Probate
Chapter 126 - Property Held for the Benefit of Minors; Uniform Transfers to Minors Act
Section 126.700 - Payment or delivery for benefit of minor.
Section 126.730 - Payment of moneys to minor pursuant to judgment; payment or deposit; disbursement.
Section 126.805 - Definitions for ORS 126.805 to 126.886.
Section 126.809 - Applicability of ORS 126.805 to 126.886; jurisdiction over custodian.
Section 126.819 - Irrevocable transfer by personal representative or trustee to custodian.
Section 126.822 - Transfer to custodian in absence of authorization.
Section 126.832 - Creation and transfer of custodial property; form of instrument.
Section 126.836 - Limitations on custodianship; age requirement for transfers.
Section 126.839 - Validity of transfer.
Section 126.842 - Duties of custodian; standard of care.
Section 126.846 - Rights, powers and authority of custodian.
Section 126.852 - Reimbursement to custodian for reasonable expenses; compensation; bond.
Section 126.857 - Third person’s duties in dealing with custodian.
Section 126.859 - Claims against custodial property; liability of custodian and beneficiary.
Section 126.866 - Petition for accounting by custodian, determination of responsibility.
Section 126.869 - Time of transfer of custodial property to beneficiary or beneficiary’s estate.
Section 126.872 - Delayed transfer of custodial property to beneficiary.
Section 126.877 - Applicability of ORS 126.805 to 126.886 to transfers made after January 1, 1986.
Section 126.879 - Validation of transfer made before January 1, 1986.