{"data":{"id":"us-tn/tenn.-code-ann.-35-7-102","jurisdiction":"us-tn","citation":"Tenn. Code Ann. § 35-7-102","heading":"Chapter definitions","body":"As used in this chapter, unless the context otherwise requires: (1) \"Adult\" means an individual who has attained twenty-one (21) years of age; (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 the chancery, probate and juvenile courts and other courts having probate jurisdiction, which shall have concurrent jurisdiction under this chapter; (5) \"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; (6) \"Custodian\" means a person so designated, including a person designated as a joint custodian pursuant to § 35-7-111 , or a successor or substitute custodian designated according to this chapter; (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 by or qualified in a court to act as a general, limited, or temporary guardian or conservator of a minor's property or person or a person legally authorized to perform substantially the same functions; (9) \"Legal representative\" means an individual's personal representative, guardian or conservator; (10) \"Member of the minor's family\" means the minor's parent, stepparent, spouse, 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 twenty-one (21) years of age, although the minor may already be of legal age; (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) \"Qualified minor's trust\" means any trust, including a trust created by the custodian, that satisfies the requirements of federal Internal Revenue Code § 2503(c) ( 26 U.S.C. § 2503(c) ), and the regulations implementing that section; (15) \"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; (16) \"Transfer\" means a transaction that creates custodial property under this chapter; (17) \"Transferor\" means a person who makes a transfer under this chapter; and (18) \"Trust company\" means a financial institution, corporation, or other legal entity, authorized to exercise general trust powers. Acts 1992, ch. 664, § 1; 1996, ch. 593, § 1; T.C.A. §35-7-202; Acts 2007 , ch. 8, § 11.\nAs used in this chapter, unless the context otherwise requires:\n(1) \"Adult\" means an individual who has attained twenty-one (21) years of age;\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 in securities or commodities for the person's own account or for the account of others;\n(4) \"Court\" means the chancery, probate and juvenile courts and other courts having probate jurisdiction, which shall have concurrent jurisdiction under this chapter;\n(5) \"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;\n(A) Any interest in property transferred to a custodian under this chapter; and\n(B) The income from and proceeds of that interest in property;\n(6) \"Custodian\" means a person so designated, including a person designated as a joint custodian pursuant to § 35-7-111 , or a successor or substitute custodian designated according to this chapter;\nThe income from and proceeds of that interest in property;\n(A) Any interest in property transferred to a custodian under this chapter; and\n(B) The income from and proceeds of that interest in property;\n(6) \"Custodian\" means a person so designated, including a person designated as a joint custodian pursuant to § 35-7-111 , or a successor or substitute custodian designated according to this chapter;\n(7) \"Financial institution\" means a bank, trust company, savings institution, or credit union, chartered and supervised under state or federal law;\n(8) \"Guardian\" means a person appointed by or qualified in a court to act as a general, limited, or temporary guardian or conservator of a minor's property or person or a person legally authorized to perform substantially the same functions;\n(9) \"Legal representative\" means an individual's personal representative, guardian or conservator;\n(10) \"Member of the minor's family\" means the minor's parent, stepparent, spouse, grandparent, brother, sister, uncle, or aunt, whether of the whole or half blood or by adoption;\n(11) \"Minor\" means an individual who has not attained twenty-one (21) years of age, although the minor may already be of legal age;\n(12) \"Person\" means an individual, corporation, organization, or other legal entity;\n(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;\n(14) \"Qualified minor's trust\" means any trust, including a trust created by the custodian, that satisfies the requirements of federal Internal Revenue Code § 2503(c) ( 26 U.S.C. § 2503(c) ), and the regulations implementing that section;\n(15) \"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;\n(16) \"Transfer\" means a transaction that creates custodial property under this chapter;\n(17) \"Transferor\" means a person who makes a transfer under this chapter; and\n(18) \"Trust company\" means a financial institution, corporation, or other legal entity, authorized to exercise general trust powers.","path":["TN Code","Title 35","Chapter 7"],"source_url":"https://oss-data-us.vaquill.ai/v2026.08/us_tn_statutes.parquet","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:26Z","sha256":"ea61f8d3bd418d92336e938bacd060a412795c4cd3f78e8c0e0c940c7efa2a2a","source_id":"us-tn","stale":false,"prev":"us-tn/tenn.-code-ann.-35-7-101","next":"us-tn/tenn.-code-ann.-35-7-103"},"notice":"GroundRules: Original legal text. Not legal advice."}