SPIRO T. AGNEW, Governor                       557

"Chancery," subtitle "Uniform Gifts to Minors Act," be and they
are hereby repealed and re-enacted, with amendments, to read as
follows:

213. Definitions.

In this subtitle, unless the context otherwise requires:

(a)    An "adult" is a person who has attained the age of twenty-
one years.

(b)    A "bank" is any banking institution [or credit union]
formed pursuant to Article 11 of the Annotated Code, title "Banks
and Trust Companies," or pursuant to the laws of another state
or pursuant to the laws of the United States as a national bank.
[, or any insured homestead or building association incorporated
under the laws of this State or any insured federal savings and
loan association or credit union organized under the laws of the
United States.]

(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 secu-
rities for his own account, through a broker or otherwise, as a part
of a regular business.

(d)    "Court" means the circuit courts of the counties or of Balti-
more City.

(e)    ["The] 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 con-
sequence of a gift or gifts made to the minor in a manner pre-
scribed in this subtitle; (2) the income from the custodial property;
and (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 pre-
scribed in this subtitle; 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 a federal credit union or a credit union chartered
and supervised under the laws of a state; a "domestic financial
institution" is one chartered and supervised under the laws of this
state or a bank chartered and supervised under federal law and hav-
ing its principal office in this state; 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, the Federal Savings and Loan In-
surance Corporation, the Maryland Savings-Share Insurance Corpo-
ration or a similar institution organized under the laws of another
state.

[(g)] (h) A "guardian" of a minor [includes] means the gen-
eral guardian, guardian, tutor or curator of his property[,] or estate