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Opening UTMA Account- Place Funds in CD?

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Question: 
When opening an UTMA account can the funds be placed in a Certificate of deposit?
Answer: 

Any restrictions on permissible investments in a UTMA would come from the law in that state; i.e. look at your state's version of the UTMA.

Generally, a time deposit in a bank is an acceptable investment.

First published on 11/18/2018

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