Section 554.525 - Definitions; S to T(1) "State" includes a 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.(2) "Transfer" means a transaction that creates custodial property under section 13.(3) "Transferor" means a person who makes a transfer under this act.(4) "Trust company" means a financial institution, corporation, or other legal entity, authorized to exercise general trust powers.1998, Act 433, Imd. Eff. 12/30/1998.