In this chapter,

(1) “adult” means an individual who has attained the age of 18 years;
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Terms Used In Alaska Statutes 13.46.990

  • Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Decedent: A deceased person.
  • Executor: A male person named in a will to carry out the decedent
  • Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
  • person: includes a corporation, company, partnership, firm, association, organization, business trust, or society, as well as a natural person. See Alaska Statutes 01.10.060
  • property: includes real and personal property. See Alaska Statutes 01.10.060
  • state: means the State of Alaska unless applied to the different parts of the United States and in the latter case it includes the District of Columbia and the territories. See Alaska Statutes 01.10.060
(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 Alaska Stat. § 13.46.080 or a successor or substitute custodian designated under Alaska Stat. § 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 Alaska Stat. § 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.
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