                                 CODE OF VIRGINIA

DEFINITIONS (§ 64.2-900)

As used in this chapter:
		&#8220;Adult&#8221; means an individual who is at least 18 years of age.
		&#8220;Beneficiary&#8221; means an individual for whom property has been
transferred to or held under a declaration of trust by a custodial trustee for
the individual&#8217;s use and benefit under this chapter.
		&#8220;Conservator&#8221; means a person appointed or qualified by a court to
manage the estate of an individual or a person legally authorized to perform
substantially the same functions.
		&#8220;Court&#8221; means a circuit court of the Commonwealth.
		&#8220;Custodial trust property&#8221; means an interest in property
transferred to or held under a declaration of trust by a custodial trustee under
this chapter and the income from and proceeds of that interest.
		&#8220;Custodial trustee&#8221; means a person designated as trustee of a
custodial trust under this chapter or a substitute or successor to the person
designated.
		&#8220;Guardian&#8221; means a person appointed or qualified by a court as a
guardian of a person, including a limited guardian, but not a person who is only
a guardian ad litem.
		&#8220;Incapacitated&#8221; means lacking the ability to manage property and
business affairs effectively by reason of mental illness, mental deficiency,
physical illness or disability, chronic use of drugs, chronic intoxication,
confinement, detention by a foreign power, disappearance, minority, or other
disabling cause.
		&#8220;Legal representative&#8221; means a personal representative or
conservator.
		&#8220;Member of the beneficiary&#8217;s family&#8221; means a
beneficiary&#8217;s spouse, descendant, stepchild, parent, stepparent,
grandparent, brother, sister, uncle, or aunt, whether of the whole or half blood
or by adoption.
		&#8220;Person&#8221; means an individual, corporation, business trust, estate,
trust, partnership, joint venture, association, or any other legal or commercial
entity.
		&#8220;Personal representative&#8221; means an executor, administrator, or
special administrator of a decedent&#8217;s estate, a person legally authorized
to perform substantially the same functions, or a successor to any of them.
		&#8220;State&#8221; means a state, territory, or possession of the United
States, the District of Columbia, or the Commonwealth of Puerto Rico.
		&#8220;Transferor&#8221; means a person who creates a custodial trust by
transfer or declaration.
		&#8220;Trust company&#8221; means a financial institution, corporation, or
other legal entity authorized to exercise general trust powers.

HISTORY: 1990, c. 264, § 55-34.1; 2012, c. 614.