Common use of Uniform Transfer to Minor Accounts Clause in Contracts

Uniform Transfer to Minor Accounts. A Uniform Transfer to Minor Account (UTTMA) is an individual account established by a member as a custodian on behalf of a minor (a person under twenty-one (21) years of age). The custodian shall open the account in the name of the minor, include the minor’s social security number, and must sign his or her own name on the Account Card. The custodian is the owner of the account for the exclusive right and benefit of the minor and, barring a court order otherwise, is the only party entitled to make deposits to, withdrawals from, or close the account. In the event of the custodian’s death, the Credit Union may place an administrative hold on the account until it receives instructions from any person authorized by law to withdraw funds or a court order authorizing such withdrawal.

Uniform Transfer to Minor Accounts. A Uniform Transfer to Minor Account (UTTMAUTMA) is an individual account established by a member as a custodian on behalf of a an eligible minor (a person under twenty-one (21) years of age). The custodian shall open the account in the name of the minor, include the minor’s social security number, number and must sign his or her own name on the Account Card. The custodian is the owner of the account for the exclusive right and benefit of the minor and, and barring a court order otherwise, is the only party entitled to make deposits to, withdrawals from, or close the account. In the event of the custodian’s death, the Credit Union may place an administrative hold on the account until it receives instructions from any person authorized by law to withdraw funds or a court order authorizing such withdrawal. The Credit Union shall not change the account status when the minor reaches age eighteen (18) unless authorized in writing by all account owners.

Uniform Transfer to Minor Accounts. A Uniform Transfer to Minor Account (UTTMA) is an individual account established by a member as a custodian on behalf of a minor (a person under twenty-one (21) years of age). The custodian shall open the account in the name of the minor, include the minor’s social security number, and must sign his or her own name on the Account CardMembership Application. The custodian is the owner of the account for the exclusive right and benefit of the minor and, barring a court order otherwise, is the only party entitled to make deposits to, withdrawals from, or close the account. In the event of the custodian’s death, the Credit Union may place an administrative hold on the account until it receives instructions from any person authorized by law to withdraw funds or a court order authorizing such withdrawal.

Uniform Transfer to Minor Accounts. A Uniform Transfer to Minor Account (UTTMA) is an individual account established in accordance with State law by a member as a custodian on behalf of a minor (a person under twenty-one (21) years of age). .) The custodian shall open the account in the name of the minor, include the minor’s social security tax identification number, and must sign his or her own name on the Trust Account Cardcard. The custodian is must hold and use the owner funds in accordance with applicable law, but we will not be responsible for verifying the use or disposition of the account for the exclusive right and benefit of the minor and, barring a court order otherwise, is the only party entitled to make deposits to, withdrawals from, or close the any funds in such an account. In the event of the custodian’s death, the Credit Union may place an administrative hold on the account until it receives instructions from any person authorized by law to withdraw funds or a court order authorizing such withdrawal.