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This entry was published on 2014-09-22
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SECTION 13-4.1
Definitions
Estates, Powers & Trusts (EPT) CHAPTER 17-B, ARTICLE 13, PART 4
§ 13-4.1 Definitions

As used in this part unless the context otherwise requires:

(a) "Beneficiary form" means a registration of a security which
indicates the present owner of the security and the intention of the
owner regarding the person who will become the owner of the security
upon the death of the owner.

(b) "Devisee" means any person to whom real property is transferred by
will.

(c) "Distributee" means any person entitled to take or share in the
property of a decedent under the statutes governing descent and
distribution.

(d) "Legatee" means any person designated to receive a transfer by
will of personal property.

(e) "Person" means an individual, a corporation, an organization or
other legal entity.

(f) "Personal representative" includes executor, administrator,
successor personal representative, preliminary executor, temporary
administrator and persons who perform substantially the same function
under the law governing their status.

(g) "Property" includes both real and personal property or any
interest therein and means anything that may be the subject of
ownership.

(h) "Register" including its derivatives, means to issue a certificate
showing the ownership of a certificated security or, in the case of an
uncertificated security, to initiate or transfer an account showing
ownership of securities.

(i) "Registering entity" means a person who originates or transfers a
security title by registration, and includes a broker or banking
institution, as defined in paragraph (b) of subdivision three of section
nine-f of the banking law maintaining security accounts for customers
and a transfer agent or other person acting for or as an issuer of
securities.

(j) "Security" means a share, participation or other interest in
property, in a business or in an obligation of an enterprise or other
issuer, and includes a certificated security, an uncertificated security
and a security account.

(k) "Security account" means (i) a reinvestment account associated
with a security, a securities account with a broker or banking
institution, as defined in paragraph (b) of subdivision three of section
nine-f of the banking law, a cash balance in a brokerage account or
securities account, cash, interest, earnings, or dividends earned or
declared on a security in an account, a reinvestment account or a
brokerage account, whether or not credited to the account before the
owner's death, or

(ii) a cash balance or other property held for or due to the owner of
a security as a replacement for or product of an account security,
whether or not credited to the account before the owner's death.

(l) "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.