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Current through October 23, 2012
For the purposes of this chapter, the term:
(1) "Adult" means an individual who is at least 18 years of age.
(2) "Beneficiary" means an individual for whom property has been transferred to or held under a declaration of trust by a custodial trustee for the individual's use and benefit under this chapter.
(3) "Conservator" 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.
(4) "Court" means the Superior Court of the District of Columbia.
(5) "Custodial trust property" 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.
(6) "Custodial trustee" means a person designated as trustee of a custodial trust under this chapter or a substitute or successor to the person designated.
(6A) "Domestic partner" shall have the same meaning as provided in § 32- 701(3).
(7) "Guardian" means a person appointed or qualified by a court as a guardian of an individual, including a limited guardian, but not a person who is only a guardian ad litem.
(8) "Incapacitated" 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.
(9) "Legal representative" means a personal representative or conservator.
(10) "Member of the beneficiary's family" means a beneficiary's spouse, descendant, stepchild, parent, stepparent, grandparent, brother, sister, uncle, or aunt, whether of the whole or half blood or by adoption.
(11) "Person" means an individual, corporation, business trust, estate, trust, partnership, joint venture, association, or any other legal or commercial entity.
(12) "Personal representative" means an executor, administrator, or special administrator of a decedent's estate, a person legally authorized to perform substantially the same functions, or a successor to any of them.
(13) "State" means a state, territory, or possession of the United States, the District of Columbia, or the Commonwealth of Puerto Rico.
(14) "Transferor" means a person who creates a custodial trust by transfer or declaration.
(15) "Trust company" means a financial institution, corporation, or other legal entity, authorized to exercise general trust powers.
(July 23, 2002, D.C. Law 14-177, § 2(b), 49 DCR 5092; Sept. 12, 2008, D.C. Law 17-231, § 21(a), 55 DCR 6758.)
HISTORICAL AND STATUTORY NOTES
Effect of Amendments
D.C. Law 17-231 added par. (6A).
Legislative History of Laws
Law 14-177, the "Uniform Custodial Trust Act of 2002", was introduced in Council and assigned Bill No. 14-210, which was referred to the Committee on Judiciary. The Bill was adopted on first and second readings on April 9, 2002, and May 7, 2002, respectively. Signed by the Mayor on May 20, 2002, it was assigned Act No. 14-370 and transmitted to both Houses of Congress for its review. D.C. Law 14-177 became effective on July 23, 2002.
Law 17-231, the "Omnibus Domestic Partnership Equality Amendment Act of 2008", was introduced in Council and assigned Bill No. 17-135, which was referred to the Committee on Public Safety and the Judiciary. The Bill was adopted on first and second readings on April 1, 2008, and May 6, 2008, respectively. Signed by the Mayor on June 6, 2008, it was assigned Act No. 17-403 and transmitted to both Houses of Congress for its review. D.C. Law 17-231 became effective on September 12, 2008.
