We have a high worth customer based in Maryland who has a check made out to a UTMA. When we told the customer that he must deposit the check to the UTMA account, he was really upset, and insisted on cashing the check. Is there a federal/state law, that states that these checks must be deposited to a UTMA account? Thank You.

The money that the check represents is not theirs. End of story. It is an irrevocable gift that has been made to the minor.

If you do cash the check and the minor figures it out and they never got the money - guess who is left holding the bag?