Financial key terms
and definitions
Defined Financial information
and glossary
Please see specific financial
information below
Finance and Trading:
Unclaimed Funds
Funds, usually resulting from a dividend payment,
liquidation of stock or cash-in-lieu of fractional shares,
that are not claimed by the owner. Unclaimed funds are held
by National City on behalf of the shareholder until receipt
of a notice of a proper mailing address, or until the funds
must be turned over to the state as abandoned property.
Unclaimed funds do not earn interest.
Uniform Gift to Minors Act
(UGMA)
Laws adopted by most states permitting the irrevocable gift
to minors of securities without having to establish a trust
instrument or name a legal guardian.
Uniform Transfers To Minors
Act (UTMA)
A law pertaining to residents of certain states that permits
custodians to be named by wills or trusts. It is expected
that this law will ultimately replace the Uniform Gifts to
Minor Act.
Search for more in the
database
Financial key
terms and definitions. All information about financial
and trade terms.
