Washington Code 11.114.010 – Definitions
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Unless the context clearly requires otherwise, the definitions in this section apply throughout this chapter.
Terms Used In Washington Code 11.114.010
- 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.
- 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: may be construed to include the United States, this state, or any state or territory, or any public or private corporation or limited liability company, as well as an individual. See Washington Code 1.16.080
- Personal representative: includes executor, administrator, special administrator, and conservator or limited conservator and special representative. See Washington Code 11.02.005
(1) “Adult” means an individual other than the minor who has attained the age of twenty-one years and is older than the minor.
(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) “Guardian” 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. Conservator means guardian for transfers made under another state’s law but enforceable in this state’s courts.
(5) “Court” means a superior court of the state of Washington.
(6) “Custodial property” means (a) any 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 so designated under RCW 11.114.090 or a successor or substitute custodian designated under RCW 11.114.180.
(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 guardian.
(10) “Member of the minor’s family” means the minor’s parent, stepparent, spouse, domestic partner, 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-five years.
(12) “Person” means an individual, corporation, organization, or other legal entity.
(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 RCW 11.114.090.
(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.
NOTES:
Effective date—2006 c 204: See note following RCW 11.114.090.