Definitions

In this Chapter, unless the contest otherwise requires:

(a)An adult is a person who has attained the age of 18 years.

(b)A bank is a bank, trust company, national banking association, savings bank. or industrial bank duly admitted and licensed in Guam to accept the deposits of others.

(c)A broker is a person lawfully engaged in the business of effecting transactions in securities for the account of others. The term includes a bank which effects such transactions. The term also includes a person lawfully engaged in buying and selling securities for his own account, through a broker or otherwise, as a part of a regular business.

(d)Court means the Superior Court.

(e)The custodial property includes:

(1)All securities, life insurance policies, annuity contracts and money under the supervision of the same custodian for the same minor as a consequence of a gift or gifts made to the minor is a manner prescribed in this Chapter;

(2)The income from the custodial property; and COL120106 CH. 12 UNIFORM G IFTS TO M INORS ACT

(3)The proceeds, immediate and remote, from the sale, exchange, conversion, investment, reinvestment, surrender or other disposition of such securities, money, life insurance policies, annuity contracts and income.

(f)A custodian is a person so designated in a manner prescribed in this Chapter; the term includes a successor custodian.

(g)A financial institution is a bank, a federal savings and loan association, a savings institution chartered and supervised as a savings and loan or similar institution under federal law or the laws of a state or territory or a federal credit union or a credit union chartered and supervised under the laws of a state or territory; a domestic financial institution is one chartered and supervised under the laws of Guam or chartered and supervised under federal law and having its principal office in Guam; and an insured financial institution is one, deposits (including a savings, share, certificate, or deposit account) in which are, in whole or in part, insured by the Federal Deposit Insurance Corporation or by the Federal savings and Loan Insurance Corporation or by a deposit insurance fund approved by the laws of Guam.

(h)A guardian of a minor means the general guardian, guardian, tutor, or curator of his property or estate appointed or qualified by a court of Guam or a state or territory.

(i)An issuer is a person who places or authorizes the placing of his name on a security other than as a transfer agent to evidence that it represents a share. participation or other interest in his property or in an enterprise or to evidence his duty or undertaking to perform an obligation evidenced by the security, or who becomes responsible for or in place of any such person.

(j)A legal representative of a person is his executor or the administrator, general guardian, guardian, committee, conservator, tutor or curator of his property or estate.

(k)A life insurance policy or annuity contract means a life insurance policy or annuity contract issued by an insurance company authorized to do business in Guam on the life of a minor to whom a gift of the policy or contract is made in the manner prescribed in this Chapter or on the life of a member of the minor=s family. COL120106 CH. 12 UNIFORM G IFTS TO M INORS ACT

(l)A member of a minor =s family means any of the minor=s parents, grandparents, brothers, sisters, uncles and aunts, whether of the whole blood or the half blood, or by or through legal adoption.

(m)A minor is a person who has not attained the age of 18 years.

(n)A security includes any note, stock, treasury stock, bond, debenture, evidence of indebtedness, certificate of interest or participation in an oil, gas or mining title or lease or in payments out of production under such a title or lease, collateral trust certificate, transferrable share, voting trust certificate or, in general, any interest or instruments commonly known as a security, or any certificate of interest or participation in, any temporary or interim certificate, receipt or certificate of deposit for, or any warrant or right to subscribe to or purchase, any of the foregoing. The term does not include a security of which the donor is the issuer. A security is in registered form when it specifies a person entitled to it or to the rights it evidences and its transfer may be registered upon books maintained for that purpose by or on behalf of the issuer.

(o)A transfer agent is a person who acts as authenticating trustee, transfer agent, registrar, or other agent for an issuer in the registration for transfers of its securities or in the issue of new securities or in the cancellation of surrendered securities.

(p)A trust company is a bank or corporation or other legal entity authorized to exercise trust powers in Guam.