An UGMA account functions as a type of custodial account designed to hold and protect assets for the beneficiary.The donor can appoint him/herself, another person or a financial institution to the role of custodian.The custodian—who has a fiduciary duty to manage the account in the beneficiary's best interest—can use the funds to buy stocks, bonds, mutual funds and other securities on behalf of the minor.The donor can make certain withdrawals for expenses that benefit the minor including tuition payments, tutoring lessons and computer equipment.On the left are a wavy line symbolizing the Damodar River and above it the Jesuit IHS logo and the lotus, the Indian symbol for learning and wisdom.Number of Students - 6,779 -------- Number of School Buses - 32 -------- Number of Playgrounds - 2 ( For K. UGMA accounts can be opened through a bank or brokerage institution and they are typically used to fund a child’s education.
It has an installed capacity of 18000 MT/Annum spread over 80 acres of land with a covered area of 15200 sq. This facility is an approved Class 'A' Foundry as certified under IS12196 by the Research Design and Standard Organisation (RDSO), Indian Railway, as also an ISO - 9008 and ISO 14001 compliant facility certified by BSI Certificate No. The Company envisages future development and expansion of this facility to integrate Railway Freight Car and Passenger Coach manufacturing.
At that point, the beneficiary can use these funds as he or she pleases.
For federal tax purposes, the minor or beneficiary is considered the owner of all assets in an UGMA account and the income they generate.
OBRPL has the ability to design and manufacture Steel Castings of any specification for various applications by virtue of its in-house innovative design team.
Evaluation and validation of design can also be done by a group of experienced, qualified Engineers guided by dedicated specialists.
UGMA and UTMA [Uniform Transfers to Minors Act] are usually used interchangeably, but state law can dictate what types of assets can go into either account.