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.
Structure Maryland Statutes
Title 5 - Banking Institutions -- General Provisions
Section 5-301 - Time Account Services
Section 5-302 - Terms of Savings Accounts
Section 5-305 - Deposits by Minors
Section 5-306 - Adverse Claim to Property Held by Bank
Section 5-307 - Liability for Loss of Check
Section 5-308 - Service Charges Prohibited if Withdrawals Restricted
Section 5-310 - Month and Year Account Opened to Appear on Checks; Exceptions