Minor Account definition

Minor Account means any Subject Deposit Account or Subject Securities Account the average weekly balance of which (i) when combined with the average weekly balance of all other Minor Accounts, shall not exceed $2,000,000 and (ii) does not, individually, exceed $500,000.
Sample 1Sample 2
Minor Account means a Seghaar or Youth account opened by the Bank at the request of the Grantor for the benefit of the Minor.
Sample 1
Minor Account means the account holder with age of 12 and before age of 18 in calendar month.
Sample 1

Examples of Minor Account in a sentence

  • 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).

  • Any Owner of a Single Party, Joint or Multiple Party with Right of Survivorship, Payable on Death, or Minor Account may close the Account at any time.

  • The Bank will accept instructions to operate an account from the Account Holder (or in the case of Minor Account Holders, individual/s holding the account on the Minor’s behalf), persons holding an applicable Power of Attorney and/or Per Pro Signatory Authorities.

  • In case of Minor Account, guardian should complete this form on behalf of account holder i.e. minor.This form will remain valid unless there is a change in circumstances relating to information, such as the account holder’s tax status or other information that makes this form incorrect or incomplete.

  • In case of Minor Account, guardian should complete this form on behalf of account holder i.e. Minor.This form will remain valid unless there is a change in circumstances relating to information, such as the account holder’s tax status or other information that makes this form incorrect or incomplete.

  • If you close your Minor Account before dividends are paid, you will not receive the accrued dividends.

  • Secondly, saving is primarily a function of income, so that the level of income has to be known before the interest rate can be known.

  • A Uniform Transfer to Minor Account (UTMA) is an individual account established in accordance with Oregon law by a member as a custodian on behalf of a minor (a person under twenty-one (21) years of age).

  • Primary Member Signature Date Designate the ownership of the accounts and responsibility for the services requested.Individual Joint Account with Survivorship Minor Account with CustodianJoint Member/Custodian NameSocial Security #Driver’s Lic.

  • All funds deposited into an Uniform Transfer to Minor Account (“UTMA”) irrevocably become the property of the minor, but are to be managed for the minor’s benefit by a designated custodian until the minor reaches the age of 21, at which time the custodian is responsible for distributing the funds to the minor.


More Definitions of Minor Account

Minor Account means the account of a Minor Customer.
Sample 1

Related to Minor Account

  • Matching Account means the account maintained on the books of the Employer for the purpose of accounting for the Matching Amount and for the amount of investment return credited thereto for each Participant pursuant to Article V.

  • Employer Contribution Account means, for any Participant, the account established by the Administrator or Trustee to which Employer Contributions made under Section 3.5 for the Participant's benefit are credited.

  • Regular account means the account established for each active and inactive member un-

  • Rollover Account means the account established hereunder to which amounts transferred from a qualified plan or individual retirement account in accordance with Section 4.6 are allocated.

  • Payroll Deduction Account means the bookkeeping account established for a Participant in accordance with Section 6.

  • Retirement Account means any retirement or pension fund or account, listed in Iowa Code section 627.6(8)“f” as exempt from execution, regardless of the amount of contribution, the interest generated, or the total amount in the fund or account.

  • Company Contribution Account means (i) the sum of the Participant’s Company Contribution Amounts, plus (ii) amounts credited or debited to the Participant’s Company Contribution Account in accordance with this Plan, less (iii) all distributions made to the Participant or his or her Beneficiary pursuant to this Plan that relate to the Participant’s Company Contribution Account.

  • Individual retirement account means a trust, custodial arrangement, or annuity under Section 408(a) or (b), Internal Revenue Code of 1954 (26 U.S.C. Section 408 (1986)).

  • Designated Retirement Account means any retirement plan or account described or qualified under the Internal Revenue Code of 1986, as amended, or a subaccount thereof.

  • Separate Account shall have the respective meanings assigned to such terms in Section 3 of ERISA.

  • Deferral Account means the Company's accounting of the Director's accumulated Deferrals plus accrued interest.

  • Transfer Account means the account established hereunder to which amounts transferred to this Plan from a direct plan-to-plan transfer in accordance with Section 4.7 are allocated.

  • Cash Account has the meaning set forth in Section 2.1(a)(ii).

  • User Account means an account under the name of the Customer in relation to the Service subscribed by the Customer.

  • Holding Account means an account:

  • Deferred Account means the participant's Deferred Pension Account, Deferred Dividends Account, Deferred Retainer Account, Deferred Fees Account, Deferred Cash Account and/or Deferred Stock Account.