Louisiana Revised Statutes 9:751 – As used in this Subpart:
Terms Used In Louisiana Revised Statutes 9:751
- 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 a court of competent jurisdiction in the parish of the domicile of the minor. See Louisiana Revised Statutes 9:751
- Custodial property: means any interest in property transferred to a custodian under this Subpart and the income from and proceeds of that interest in property. See Louisiana Revised Statutes 9:751
- Custodian: means a person so designated under La. See Louisiana Revised Statutes 9:751
- Decedent: A deceased person.
- Executor: A male person named in a will to carry out the decedent
- Financial institution: means a bank, trust company, savings institution, or credit union, chartered and supervised under state or federal law. See Louisiana Revised Statutes 9:751
- 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.
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- Minor: means an individual who has not attained the age of twenty-two years. See Louisiana Revised Statutes 9:751
- Person: means an individual, corporation, organization, or other legal entity. See Louisiana Revised Statutes 9:751
- Personal representative: means an executor, administrator, or representative of a decedent's estate or a person legally authorized to perform substantially the same functions. See Louisiana Revised Statutes 9:751
- 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 Louisiana Revised Statutes 9:751
- Transfer: means a transaction that creates custodial property under La. See Louisiana Revised Statutes 9:751
- Trust company: means a financial institution, corporation, or other legal entity authorized to exercise general trust powers. See Louisiana Revised Statutes 9:751
- Tutor: means a person appointed or qualified by a court to act as guardian of a minor's property or a person legally authorized to perform substantially the same functions, including but not limited to a curator. See Louisiana Revised Statutes 9:751
As used in this Subpart:
(1) “Adult” means an individual who has attained the age of twenty-two 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) “Court” means a court of competent jurisdiction in the parish of the domicile of the minor.
(5) “Custodial property” means any interest in property transferred to a custodian under this Subpart and the income from and proceeds of that interest in property.
(6) “Custodian” means a person so designated under La. Rev. Stat. 9:759 or a successor or substitute custodian designated under La. Rev. Stat. 9:768.
(7) “Financial institution” means a bank, trust company, savings institution, or credit union, chartered and supervised under state or federal law.
(8) “Legal representative” means an individual’s personal representative or tutor.
(9) “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.
(10) “Minor” means an individual who has not attained the age of twenty-two years.
(11) “Person” means an individual, corporation, organization, or other legal entity.
(12) “Personal representative” means an executor, administrator, or representative 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 La. Rev. Stat. 9:759.
(15) “Transferor” means a person who makes a transfer under this Subpart.
(16) “Trust company” means a financial institution, corporation, or other legal entity authorized to exercise general trust powers.
(17) “Tutor” means a person appointed or qualified by a court to act as guardian of a minor’s property or a person legally authorized to perform substantially the same functions, including but not limited to a curator.
Acts 1987, No. 469, §1, eff. Jan. 1, 1988; Acts 2023, No. 60 §1.