St. Lawrence Seaway definition, a series of channels, locks, and canals between Montreal and the mouth of Lake Ontario, a distance of 182 miles (293 km), enabling most deep-draft vessels to travel from the Atlantic Ocean, up the St. Lawrence River, to all the Great Lakes ports: developed jointly by the U.S. and Canada. See more.
A uniform transfer to minors account, or UTMA, is a way that grandparents can put money away for their grandchildren. Sometimes called custodial accounts, UTMA accounts generally stay under the control of an adult custodian until the child reaches the age of majority.
UTMA Highlights. 1  The only restriction on withdrawals is that it must benefit the child. 2  With the exception of options and using margin, any stock, bond or mutual fund can be held by an UTMA. 3  Unlike a 529, there is no limit to how much you can fund into the account. The gift to an UTMA is irrevocable. As the custodian, you can make investment decisions and withdraw money for your child, but when the child is an adult (18 â 21 depending upon the state) the money belongs to the child.