As used in this Act, unless the context otherwise indicates, the following terms have the following meanings. [PL 1987, c. 734, §2 (NEW).]
1. Adult. “Adult” means an individual who has attained 18 years of age.

[PL 1989, c. 502, Pt. A, §117 (AMD).]

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Terms Used In Maine Revised Statutes Title 33 Sec. 1652

  • Adult: means a person who has attained the age of 18 years. See Maine Revised Statutes Title 1 Sec. 72
  • 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.
  • Probate: Proving a will
  • United States: includes territories and the District of Columbia. See Maine Revised Statutes Title 1 Sec. 72
2. Benefit plan. “Benefit plan” means an employer’s plan for the benefit of an employee or partner.

[PL 1987, c. 734, §2 (NEW).]

3. Broker. “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.

[PL 1987, c. 734, §2 (NEW).]

4. Conservator. “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.

[PL 1987, c. 734, §2 (NEW).]

5. Court. “Court” means the Probate Court.

[PL 1987, c. 734, §2 (NEW).]

6. Custodial property. “Custodial property” means any interest in property transferred to a custodian under this Act and the income from and proceeds of that interest in property.

[PL 1987, c. 734, §2 (NEW).]

7. Custodian. “Custodian” means a person so designated under section 1660 or a successor or substitute custodian designated under section 1669.

[PL 1987, c. 734, §2 (NEW).]

8. Financial institution. “Financial institution” means a bank, trust company, savings institution or credit union, chartered and supervised under state or federal law.

[PL 1987, c. 734, §2 (NEW).]

9. Legal representative. “Legal representative” means an individual’s personal representative or conservator.

[PL 1987, c. 734, §2 (NEW).]

10. Member of the minor’s family. “Member of the minor’s family” means the minor’s parent, step-parent, spouse, grandparent, brother, sister, uncle or aunt whether of whole or 1/2 blood or by adoption.

[PL 1987, c. 734, §2 (NEW).]

11. Minor. “Minor” means an individual who has not attained 18 years of age.

[PL 1987, c. 734, §2 (NEW).]

12. Person. “Person” means an individual, corporation, organization or other legal entity.

[PL 1987, c. 734, §2 (NEW).]

13. Personal representative. “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.

[PL 1987, c. 734, §2 (NEW).]

14. State. “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.

[PL 1987, c. 734, §2 (NEW).]

15. Transfer. “Transfer” means a transaction that creates custodial property under section 1660.

[PL 2019, c. 501, §16 (AMD).]

16. Transferor. “Transferor” means a person who makes a transfer under this Act.

[PL 1987, c. 734, §2 (NEW).]

17. Trust company. “Trust company” means a financial institution, corporation or other legal entity authorized to exercise general trust powers.

[PL 1987, c. 734, §2 (NEW).]

SECTION HISTORY

PL 1987, c. 734, §2 (NEW). PL 1989, c. 502, §A117 (AMD). PL 2019, c. 501, §16 (AMD).
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