As used in this article 1.5:

1. (1) Adult means an individual who is at least eighteen years of age.
2. (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 article.
3. (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. (4) Court means the district courts of this state, except in the city and county of Denver, where it means the probate court.
5. (5) Custodial trust property means an interest in property transferred to or held under a declaration of trust by a custodial trustee under this article and the income from and proceeds of that interest.
6. (6) Custodial trustee means a person designated as trustee of a custodial trust under this article or a substitute or successor to the person designated.
7. (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. (8) Incapacitated means lacking the ability to manage property and business affairs effectively by reason of a behavioral or mental health disorder, an intellectual and developmental disability, a physical illness or disability, a substance use disorder, confinement, detention by a foreign power, disappearance, minority, or other disabling cause.
9. (9) Legal representative means a personal representative or conservator.
10. (10) Member of the beneficiary's family means a beneficiary's spouse, descendant, stepchild, parent, stepparent, grandparent, brother, sister, uncle, or aunt, whether related by whole or half blood or by adoption.
11. (11) Person means an individual, corporation, business trust, estate, trust, partnership, joint venture, association, or any other legal or commercial entity.
12. (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. (13) State means a state, territory, or possession of the United States, the District of Columbia, or the Commonwealth of Puerto Rico.
14. (14) Transferor means a person who creates a custodial trust by transfer or declaration.
15. (15) Trust company means a financial institution, corporation, or other legal entity authorized to exercise general trust powers.

Source: L. 99: Entire article added, p. 1211, § 1, effective August 4. L. 2017: IP and (8) amended, (HB 17-1046), ch. 50, p. 157, § 7, effective March 16; (8) amended, (SB 17-242), ch. 263, p. 1295, § 115, effective May 25.

Cross references: For the legislative declaration in SB 17-242, see section 1 of chapter 263, Session Laws of Colorado 2017.