In another form, a Custodial Account is an account owned by an individual or institution, managed by a named party for purposes of rapid distribution of funds in that account. This is commonly used for petty cash or for transactions that have very limited and clearly defined payees and transaction types.
GIPSA ALLEGES RAVENNA AUCTION, LLC AND LAVERNE LETTINGA MISUSED CUSTODIAL ACCOUNT FOR SHIPPERS? PROCEEDS AND MISREPRESENTED WEIGHTS AND PURCHASE PRICE.
Oct 07, 2010; WASHINGTON -- The following information was released by the U.S. Department of Agriculture: The U.S. Department of Agriculture's...