Md. Code, Financial Institutions § 5-305

Md. Code, Financial Institutions § 5-305
in effect
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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.
Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://mgaleg.maryland.gov/mgawebsite/Laws/StatuteText?article=gfi&section=5-305&enactments=falseFetched: 10/17/2026

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