Browse Arkansas Code titles and sections
9-26-201. Definitions.
Arkansas Code — all titles (historical 2020) · legal_authorities
9-26-201. Definitions.
As used in this subchapter:
(1) “Adult” means an individual who has attained the age of twenty-one (21) years.
(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) “Conservator” means a person appointed or qualified by a court to act as general, limited, or temporary guardian of a minor's property or a person legally authorized to perform substantially the same functions.
(5) “Court” means any circuit court of competent jurisdiction.
(6) “Custodial property” means (i) any interest in property transferred to a custodian under this subchapter; and (ii) the income from and proceeds of that interest in property.
(7) “Custodian” means a person so designated under § 9-26-209 or successor or substitute custodian designated under § 9-26-218.
(8) “Financial institution” means a bank, trust company, savings institution, or credit union, chartered and supervised under state or federal law.
(9) “Legal representative” means an individual's personal representative 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 the age of twenty-one (21) years.
(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
Source: Arkansas Code — historical release 78 (November 6, 2020) · 9-26-201
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. A text match is a research starting point; applicability is not established.
Issuing source page ↗
Authority boundary: historical statutory source snapshot not current law.
Open the recorded source website ↗
Record provenance
Stable record: arkansas_code:legal_authorities:9-26-201
Source file: gov.ar.code.title.09.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 7d9e051c9cd685403ca5cdda8371dd920e7fb5241840aaea1652b2fb831b3f0e
Source location: content.xml paragraph 13606
Stored source content
9-26-201. Definitions.
As used in this subchapter:
(1) “Adult” means an individual who has attained the age of twenty-one (21) years.
(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) “Conservator” means a person appointed or qualified by a court to act as general, limited, or temporary guardian of a minor's property or a person legally authorized to perform substantially the same functions.
(5) “Court” means any circuit court of competent jurisdiction.
(6) “Custodial property” means (i) any interest in property transferred to a custodian under this subchapter; and (ii) the income from and proceeds of that interest in property.
(7) “Custodian” means a person so designated under § 9-26-209 or successor or substitute custodian designated under § 9-26-218.
(8) “Financial institution” means a bank, trust company, savings institution, or credit union, chartered and supervised under state or federal law.
(9) “Legal representative” means an individual's personal representative 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 the age of twenty-one (21) years.
(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) “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.
(15) “Transfer” means a transaction that creates custodial property under § 9-26-209.
(16) “Transferor” means a person who makes a transfer under this subchapter.
(17) “Trust company” means a financial institution, corporation, or other legal entity, authorized to exercise general trust powers.
Cross-references
Connections may be documented source relationships, shared citations or nearby passages. Each explains its basis; a connection alone does not establish applicability to your situation.
Arkansas Code — all titles (historical 2020) · legal_authorities
9-26-209. Manner of creating custodial property and effecting transfer — Designation of initial custodian — Control.
(a) Custodial property is created and a transfer is made whenever:
(1) an uncertificated security or a certificated security in registered form is either:
(i) registered in the name of the transferor, an adult other than the transferor, or a trust company, followed in substance by the words: “as custodian for (name of minor) under the Arkansas Uniform Transfers to Minors Act”; or
(ii) delivered if in certificated form, or any document necessary for the transfer of an uncertificated security is delivered, together with any necessary endorsement to an adult other than the transferor or to a trust company as custodian, accompanied by an instrument in substantially the form set forth in subsection (b) of this section;
(2) money is paid or delivered to a broker or financial institution for credit to an account in the name of the transferor, an adult other than the transferor, or a trust company followed in substance by the words: “as custodian for (name of minor) under the Arkansas Uniform Transfers to Minors Act”;
(3) the ownership of a life or endowment insurance policy or annuity contract is either:
(i) registered with the issuer in the name of the transferor, an adult other than the transferor, or a trust company, followed in substance by the words: “as custodian for (name of minor) under the Arkansas Uniform Transfers to Minors Act”; or
(ii) assigned in a writing delivered to an adult other than the transferor or to a trust company whose name in the assignment is followed in substance by the words: “as custodian for (name of minor) under the Arkansas Uniform Transfers to Minors Act”;
(4) an irrevocable exercise of a power of
Source: Arkansas Code — historical release 78 (November 6, 2020) · 9-26-209
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. The source passage cites 9-26-209. This identifies an authority to review, not proof of applicability.
Arkansas Code — all titles (historical 2020) · legal_authorities
9-26-218. Renunciation, resignation, death, or removal of custodian — Designation of successor custodian.
(a) A person nominated under § 9-26-203 or designated under § 9-26-209 as custodian may decline to serve by delivering a valid disclaimer in the form prescribed by § 28-2-106 [repealed] to the person who made the nomination or to the transferor or the transferor's legal representative. If the event giving rise to a transfer has not occurred and no substitute custodian able, willing, and eligible to serve was nominated under § 9-26-203, the person who made the nomination may nominate a substitute custodian under § 9-26-203; otherwise the transferor or the transferor's legal representative shall designate a substitute custodian at the time of the transfer, in either case from among the persons eligible to serve as custodian for that kind of property under § 9-26-209(a). The custodian so designated shall have the rights of a successor custodian.
(b) A custodian at any time may designate a trust company or an adult other than a transferor under § 9-26-204 as successor custodian by executing and dating an instrument of designation before a subscribing witness other than the successor. If the instrument of designation does not contain or is not accompanied by the resignation of the custodian, the designation of the successor shall not take effect until the custodian resigns, dies, becomes incapacitated, or is removed.
(c) A custodian may resign at any time by delivering written notice to the minor if the minor has attained the age of fourteen (14) years and to the successor custodian and by delivering the custodial property to the successor custodian.
(d) If a custodian is ineligible, dies, or becomes incapacitated without having effectively designated a successor
Source: Arkansas Code — historical release 78 (November 6, 2020) · 9-26-218
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. The source passage cites 9-26-218. This identifies an authority to review, not proof of applicability.