As used in this chapter, the following terms shall have the following meanings, respectively, unless the context clearly indicates otherwise:
(1) ADULT. An individual who has attained the age of 21 years.
(2) BENEFIT PLAN. An employer's plan for the benefit of an employee or partner, or an individual retirement account.
(3) BROKER. 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. 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. Circuit court.
(6) CUSTODIAL PROPERTY.
a. Any interest in property transferred to a custodian under this chapter and
b. The income from and proceeds of that interest in property.
(7) CUSTODIAN. A person so designated under Section 35-5A-10 or a successor or substitute custodian designated under Section 35-5A-19.
(8) FINANCIAL INSTITUTION. A bank, trust company, savings institution, or credit union, chartered and supervised under state or federal law.
(9) LEGAL REPRESENTATIVE. An individual's personal representative or conservator.
(10) MEMBER OF THE MINOR'S FAMILY. The minor's parent, stepparent, spouse, grandparent, brother, sister, uncle, or aunt, whether of the whole or half blood or by adoption.
(11) MINOR. An individual who has not attained the age of 21 years.
(12) PERSON. An individual, corporation, organization, or other legal entity.
(13) PERSONAL REPRESENTATIVE. 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.
(14) 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.
(15) TRANSFER. A transaction that creates custodial property under Section 35-5A-10.
(16) TRANSFEROR. A person who makes a transfer under this chapter.
(17) TRUST COMPANY. A financial institution, corporation, or other legal entity, authorized to exercise general trust powers.
Structure Code of Alabama
Chapter 5A - Uniform Transfers to Minors Act.
Section 35-5A-1 - Short Title.
Section 35-5A-2 - Definitions.
Section 35-5A-4 - Nomination of Custodian.
Section 35-5A-5 - Transfer by Gift or Exercise of Power of Appointment.
Section 35-5A-6 - Transfer by Will or Trust.
Section 35-5A-7 - Other Transfer by Fiduciary.
Section 35-5A-8 - Transfer by Obligor.
Section 35-5A-9 - Receipt and Discharge for Transfer of Custodial Property.
Section 35-5A-11 - Transfer to Be for One Minor; Only One Custodian; Single Custodianship.
Section 35-5A-13 - Powers and Duties of Custodian as to Custodial Property Generally.
Section 35-5A-14 - Custodian Has Rights and Powers That Unmarried Adult Would Have as to Property.
Section 35-5A-15 - Delivery, Payment, or Expenditure of Custodial Property for Benefit of Minor.
Section 35-5A-16 - Custodian's Expenses, Compensation, and Bond.
Section 35-5A-17 - Exemption of Third Person From Liability for Good Faith Dealings With Custodian.
Section 35-5A-18 - Claims Against Custodial Property; Personal Liability of Custodian and Minor.
Section 35-5A-20 - Accounting by and Determining of Liability of Custodian.
Section 35-5A-22 - Applicability of Chapter.
Section 35-5A-24 - Uniformity of Application and Construction.