Md. Code, Fin. Inst. § 5-305

Current with changes from the 2024 Legislative Session

Section 5-305 - Deposits by minors

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.

Md. Code, FI § 5-305