New York Consolidated Laws, Estates, Powers and Trusts Law - EPT § 7-5.1 Definitions

(a) A “beneficiary” is a person who is described by a depositor as a person for whom a trust account is established or maintained.

(b) A “depositor” is a person in whose name a trust account subject to this part is established or maintained.

(c) A “financial institution” is a bank, trust company, national banking association, savings bank, industrial bank, private banker, foreign banking corporation, 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, a federal credit union, or a credit union chartered and supervised under the laws of a state.

(d) A “trust account” includes a savings, share, certificate or deposit account in a financial institution established by a depositor describing himself as trustee for another, other than a depositor describing himself as acting under a will, trust instrument or other instrument, court order or decree.