Sec. 4. "Account owner" means the individual, an emancipated minor, a trust, an estate, a partnership, an association, a company, a corporation, or a qualified custodian under the Uniform Transfers to Minors act (IC 30-2-8.5) that is designated as having the right to do the following:
(1) Select or change the designated beneficiary of an account.
(2) Designate a person other than the designated beneficiary as a person to whom funds may be paid from the account.
(3) Receive distributions from the account if no other person is designated.