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Personal Share Loan Using Custodial as Collateral

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Question: 
Our institution has a savings account for minor children. A custodian has taken out a personal share loan using the custodial account as collateral. Is this allowed here in Florida?
Answer: 

No, Review Chapter 710 TRANSFERS TO MINORS

First published on BankersOnline.com 1/2/12

First published on 01/02/2012

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Filed under lending as: 

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