I am not an attorney, but I do know that an UTMA account is a type of fiduciary account that provides a framework for money or other property to be irrevocably transferred to a minor, but subject to the control of a custodian. Virtually every state has adopted its own version of UTMA, so your best course of action would be to check with your state's laws concerning those accounts. (In Maryland, UTMA accounts are found in the Estates and Trusts Article of the Maryland Code).
As a rule, most UTMA accounts established in my bank are done so as savings or money market accounts; occasionally as certificates of deposit. We seldon use checking accounts as UTMAs, although I do not believe the law stipulates that we can't. In fact, in instances where the custodian is ordered by the court to make certain payments on behalf of the minor, a checking account might be the best way to accomplish this.
Being kind is more important than being important.