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Buffalo have humps, but we prefer not to refer to them as "lovely lady lumps." It's kind of a sensitive issue.

UGMA and UTMA Quizlet

  • 1.

    Pop opened an account for Junior as an UTMA account. The state where the account was opened provides that beneficiaries of UTMA accounts become “of age” at 22. Junior calls the broker on his 22nd birthday and instructs him to liquidate the account and send him the proceeds. The broker complies with the request. Does the broker have any liability?

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