Do resident and non-resident alien customers qualify to maintain UTMA accounts under most state codes? I am particularly interested in FL, GA and AL.

Brenda, here are the rules for Alabama and Georgia . I haven't looked up FL yet. For AL go to Title 35 section 5A.

I have the rules (for this particular situation I am looking at GA). I just can't tell by the definitions and code sections I have reviewed whether an alien qualifies. It could exist in another part of the code or even interpreted at sometime by case law. We are seeing an increase in the interest in these accounts by resident and non-resident aliens and I would like to address it with staff while the account numbers are manageable.

We have procedures in place to monitor for balances, etc., so I am not concerned about due diligence--just the basic legality of the relationship.

So, we need to find the definition of "resident of this state"? So far, every law I can find that has a residency requirement defines a Georgia resident as one who has lived here for 12 consecutive months. Since the UTMA applies to Georgia Residents, I would think that so long as they have lived here 12 consecutive months they could have a UTMA. However, I am not a lawyer and am applying logic to a law which virtually ensures it will be an incorrect line of thinking. I've never had occassion to review this until now. You may need to refer the question to your bank's counsel.

That sounds like the piece of the puzzle I was looking for. I was trying to determine whether there was a residency requirement to qualify to maintain an UTMA in a particular state. I couldn't find that language in the GA UTMA statute.