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Account Styling for UTMA with Multiple Custodians

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In the state of NM can a minor account have more than one custodian? If so, is it still considered a single party account w/multiple custodians? or how do we best describe the beneficiary designation?

Under New Mexico's Uniform Transfers to Minors Act only one custodian may be named and an account may be maintained for only one minor beneficiary.

First published on 2/7/11

First published on 02/07/2011

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