Customer Accounts第 73 / 110 题
When the beneficiary of a custodial account reaches the age of majority set by state law:
a.The custodian may continue managing the account indefinitely
b.The account must be liquidated and the proceeds donated
c.Ownership reverts to the original donor
d.The assets must be re-registered in the former minor's own name and control passes to that person
解析
Custodianship ends at the state's age of majority or termination age, and the property is retitled in the now-adult beneficiary's name with full control over it. The custodian's authority is not open-ended. Because the original gift was irrevocable, neither the donor nor anyone else can reclaim the assets.
法律依据: Uniform Transfers to Minors Act免费刷完整 110 道题库 — 无需注册。
同考点相关题目
- Two business partners open an account as tenants in common with a 70/30 ownership split. If one partner dies, that partner's share:
- Which statement about an UTMA custodial account is correct?
- An UGMA account for an 11-year-old is registered under which taxpayer identification number, and how is income reported?
- To open a brokerage account in the name of a trust, the firm must obtain:
- Which document must a broker-dealer obtain before opening a corporate cash account?
- A customer asks a representative to select which mutual funds to buy and when to buy them, without checking first. The representative may do so only if: