(1) As used in this chapter:(1) “Community property” means property owned by a community property trust during the marriage of the settlor spouses;(2) “Community property trust” means an express trust that complies with § 35-17-103;(3) “Decree” means a judgment or other order of a court;(4) “Dissolution” means either:(A) Termination of a marriage by a decree of dissolution, divorce, annulment or declaration of invalidity; or(B) Entry of a decree of legal separation maintenance;(5) “During marriage” means a period that begins at marriage and ends at dissolution or immediately after the death of a spouse;(6) “Qualified trustee” means either:(A) A natural person who is a resident of this state; or(B) A company authorized to act as a fiduciary in this state pursuant to § 45-2-1001; and(7) “Settlor spouses” means a married couple that establishes a community property trust.
(1) “Community property” means property owned by a community property trust during the marriage of the settlor spouses;
(2) “Community property trust” means an express trust that complies with § 35-17-103;
(3) “Decree” means a judgment or other order of a court;
(4) “Dissolution” means either:(A) Termination of a marriage by a decree of dissolution, divorce, annulment or declaration of invalidity; or(B) Entry of a decree of legal separation maintenance;
(A) Termination of a marriage by a decree of dissolution, divorce, annulment or declaration of invalidity; or
(B) Entry of a decree of legal separation maintenance;
(5) “During marriage” means a period that begins at marriage and ends at dissolution or immediately after the death of a spouse;
(6) “Qualified trustee” means either:(A) A natural person who is a resident of this state; or(B) A company authorized to act as a fiduciary in this state pursuant to § 45-2-1001; and
(A) A natural person who is a resident of this state; or
(B) A company authorized to act as a fiduciary in this state pursuant to § 45-2-1001; and
(7) “Settlor spouses” means a married couple that establishes a community property trust.