{"data":{"id":"us-ky/krs-385.012","jurisdiction":"us-ky","citation":"KRS 385.012","heading":"Definitions.","body":"As used in KRS 385.022 to 385.222:\n(1) \"Adult\" means an individual who has attained the age of eighteen (18) years;\n(2) \"Benefit plan\" means an employer's plan for the benefit of an employee or partner;\n(3) \"Broker\" means a person lawfully engaged in the business of effecting transactions\nin se curities or commodities for the person's own account or for the account of\nothers;\n(4) \"Conservator\" means a person appointed or qualified by a court to act as general,\nlimited, or temporary guardian of a minor's property or a person legally authorized\nto perform substantially the same functions;\n(5) \"Court\" means District Court;\n(6) \"Custodial property\" means:\n(a) Any interest in property transferred to a custodian under KRS 385.032 to\n385.222; and\n(b) The income from and proceeds of that interest in property;\n(7) \"Custodian\" means a person so designated under KRS 385.092; or a successor or\nsubstitute custodian designated under KRS 385.182;\n(8) \"Financial institution\" means a bank, trust company savings institution or credit\nunion, chartered and supervised under state or federal law;\n(9) \"Legal representative\" means an individual's personal representative or conservator;\n(10) \"Member of the minor's family\" means the minor's parent, step -parent, spouse,\ngrandparent, brother, sister, uncle, or aunt, whether of  the whole or half blood or by\nadoption;\n(11) \"Minor\" means an individual who has not attained the age of eighteen (18) years;\n(12) \"Person\" means an individual, corporation, organization, or other legal entity;\n(13) \"Personal representative\" means an executor, administrator, successor personal\nrepresentative, or special administrator of a decedent's estate or a person legally\nauthorized to perform substantially the same functions;\n(14) \"State\" includes any state of th e United States, the District of Columbia, the\nCommonwealth of Puerto Rico, and any territory or possession subject to the\nlegislative authority of the United States;\n(15) \"Transfer\" means a transaction that creates custodial property under KRS 385.092;\n(16) \"Transferor\" means a person who makes a transfer under KRS 385.032 to 385.222;\n(17) \"Trust company\" means a financial institution, corporation, or other legal entity,\nauthorized to exercise general trust powers.","path":["KRS Chapter 385"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=35772","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:59:14Z","sha256":"b7f6c73cf6aee06f18c932b1a8f9c7d84084f47e8373ad31e5ee7d991f3ffb72","source_id":"us-ky","stale":false,"prev":"us-ky/krs-385.011","next":"us-ky/krs-385.020"},"notice":"GroundRules: Original legal text. Not legal advice."}