Series 99 Practice Questions - Operations Professional Qualification Examination Exam

In a UTMA custodial account, who is the beneficial owner of the assets?

The custodian, because the custodian controls trading The minor, because the assets are held for the minor's benefit The broker-dealer, until the minor reaches the age of termination The state named in the account registration

Correct Answer:

The minor, because the assets are held for the minor's benefit

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