New York § 7-6.1 Definitions

New York Statutes

§ 7-6.1 — Definitions

New York § 7-6.1

Law EPTEstates, Powers & Trusts

Part 6Uniform Transfers to Minors Act

Art. 7Trusts

This text of New York § 7-6.1 (Definitions) is published on Counsel Stack Legal Research, covering New York primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.Y. Estates, Powers & Trusts § 7-6.1 (2026).

Text

§ 7-6.1 Definitions\n  In this part:\n  (a) "Adult" means an individual who has attained the age of twenty-one\nyears.\n  (b)  "Benefit  plan"  means  an  employer's plan for the benefit of an\nemployee or partner or an individual retirement account.\n  (c) "Broker" means a  person  lawfully  engaged  in  the  business  of\neffecting transactions in securities or commodities for the person's own\naccount or for the account of others.\n  (d)  "Court" means   the supreme court or the surrogate's court having\njurisdiction over the minor.\n  (e)  "Custodial  property"  means  (i)  any   interest   in   property\ntransferred  to a custodian under this part and (ii) the income from and\nproceeds of that interest in property.\n  (f) "Custodian"  means  a  person  so  designated  under  7-6.9  or

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§ 7-6.1 Definitions\n In this part:\n (a) "Adult" means an individual who has attained the age of twenty-one\nyears.\n (b) "Benefit plan" means an employer's plan for the benefit of an\nemployee or partner or an individual retirement account.\n (c) "Broker" means a person lawfully engaged in the business of\neffecting transactions in securities or commodities for the person's own\naccount or for the account of others.\n (d) "Court" means the supreme court or the surrogate's court having\njurisdiction over the minor.\n (e) "Custodial property" means (i) any interest in property\ntransferred to a custodian under this part and (ii) the income from and\nproceeds of that interest in property.\n (f) "Custodian" means a person so designated under 7-6.9 or a\nsuccessor or substitute custodian designated under 7-6.18.\n (g) "Financial institution" means a bank, trust company, savings\ninstitution, or credit union, chartered and supervised under state or\nfederal law.\n (h) "Guardian" means a person appointed or qualified by a court to act\nas general, limited, or temporary guardian of a minor's property or a\nperson legally authorized to perform substantially the same functions.\n (i) "Legal representative" means an individual's personal\nrepresentative or guardian.\n (j) "Member of the minor's family" means any of the minor's parents,\nstepparents, spouse, grandparents, brothers, sisters, uncles, and aunts,\nwhether of the whole blood or half blood or by or through legal\nadoption.\n (k) "Minor" means an individual who has not attained the age of\ntwenty-one years.\n (l) "Person" means an individual, corporation, organization, or other\nlegal entity.\n (m) "Personal representative" means a person who has received letters\nto administer the estate of a decedent or a person legally authorized to\nperform substantially the same functions.\n (n) "State" includes any state of the United States, the District of\nColumbia, the Commonwealth of Puerto Rico, and any territory or\npossession subject to the legislative authority of the United States.\n (o) "Transfer" means a transaction that creates custodial property\nunder 7-6.9.\n (p) "Transferor" means a person who makes a transfer under this part.\n (q) "Trust company" means a financial institution, corporation, or\nother legal entity, authorized to exercise general trust powers in this\nstate.\n