Delaware Code Title 12 Sec. 4501 – Definitions
In this chapter:
(1) “Adult” means an individual who has attained the age of 21 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 Court of Chancery.
(5) “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.
(6) “Custodian” means a person so designated under § 4509 of this title or a successor or substitute custodian designated under § 4518 of this title.
(7) “Financial institution” means a bank, trust company, savings institution or credit union, chartered and supervised under state or federal law.
(8) “Guardian” means a person appointed or qualified by a court to act as general, limited or temporary guardian or conservator of a minor’s property.
(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 whole or half-blood or by adoption.
(11) “Minor” means an individual who has not attained the age of 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 § 4509 of this title.
(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.
70 Del. Laws, c. 393, § ?1; 70 Del. Laws, c. 186, § ?1; 71 Del. Laws, c. 196, § ?1; 74 Del. Laws, c. 269, § ?1;
Terms Used In Delaware Code Title 12 Sec. 4501
- 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 Court of Chancery. See Delaware Code Title 12 Sec. 39A-101
- Decedent: A deceased person.
- Executor: A male person named in a will to carry out the decedent
- State: means a state of the United States, the District of Columbia, Puerto Rico, the United States Virgin Islands, a federally recognized Indian tribe, or any territory or insular possession subject to the jurisdiction of the United States. See Delaware Code Title 12 Sec. 39A-101
- United States: includes its territories and possessions and the District of Columbia. See Delaware Code Title 1 Sec. 302