Idaho Code 68-801 – Definitions
Current as of: 2023 | Check for updates
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As used in this chapter:
(1) "Adult" means an individual who has attained the age of twenty-one (21) years.
Terms Used In Idaho Code 68-801
- 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. See Idaho Code 68-801
- 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.
- Court: means the district courts of the state of Idaho. See Idaho Code 68-801
- Custodial property: means (i) any interest in property transferred to a custodian under this chapter and (ii) the income from and proceeds of that interest in property. See Idaho Code 68-801
- Custodian: means a person so designated under section 68-809, Idaho Code, or a successor or substitute custodian designated under section 68-818, Idaho Code. See Idaho Code 68-801
- Executor: A male person named in a will to carry out the decedent
- Financial institution: means a bank, trust company, savings and loan association, or credit union, chartered and supervised under state or federal law. See Idaho Code 68-801
- 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: means an individual, corporation, organization, or other legal entity. See Idaho Code 68-801
- 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. See Idaho Code 68-801
- Property: includes both real and personal property. See Idaho Code 73-114
- 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. See Idaho Code 68-801
- Transfer: means a transaction that creates custodial property under section 68-809, Idaho Code. See Idaho Code 68-801
- Trust company: means a financial institution, corporation, or other legal entity, authorized to exercise general trust powers. See Idaho Code 68-801
(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 district courts of the state of Idaho.
(6) "Custodial property" means (i) any interest in property transferred to a custodian under this chapter and (ii) the income from and proceeds of that interest in property.
(7) "Custodian" means a person so designated under section 68-809, Idaho Code, or a successor or substitute custodian designated under section 68-818, Idaho Code.
(8) "Financial institution" means a bank, trust company, savings and loan association, 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 twenty-one (21) years.
(12) "Person" means an individual, corporation, organization, or other legal entity.
(13) "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.
(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" means a transaction that creates custodial property under section 68-809, Idaho Code.
(16) "Transferor" means a person who makes a transfer under this chapter.
(17) "Trust company" means a financial institution, corporation, or other legal entity, authorized to exercise general trust powers.