§ 5-305. Deposits by minors

Latest version.

   If a deposit in a banking institution is made by and in the name of a minor:

   (1) The institution shall hold the money for the exclusive benefit of the minor or that minor's creditors;

   (2) The minor may withdraw money from the account; and

   (3) A receipt signed by the minor discharges the institution for the withdrawal.

HISTORY: An. Code 1957, art. 11, § 100; 1980, ch. 33, § 2.

                    
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