Minors definition
Examples of Minors in a sentence
The transferor/custodian is opening an account as custodian for the minor named on the UTMA Signature Card under the Uniform Transfers to Minors Act.
The transfer of money to the minor named on the UTMA Signature Card, which transfer will be deemed to include all dividends and any future deposits or other additions thereto, is irrevocable and is made in accordance with and to include all provisions of the Uniform Transfers to Minors Act now in effect or hereinafter amended.
Customary abbreviations may be used in the name of a Holder or an assignee, such as: TEN COM (= tenants in common), TEN ENT (= tenants by the entireties), JT TEN (= joint tenants with right of survivorship and not as tenants in common), CUST (= custodian), and U/G/M/A (= Uniform Gifts to Minors Act).
You acknowledge and agree that neither the donor of the funds nor the custodian is entitled to the use or benefit of the funds, except for the benefit of the minor as allowed by the Uniform Transfers to Minors Act.
If the account is noted on the signature card as established under the Uniform Transfers to Minors Act (UTMA), you understand there can be only one custodian and one minor per account.