54C-170. Minors as deposit account holders.
(a) A savings bank may issue a deposit account to a minor as the sole and absolute owner, or as a joint owner, and receive payments, pay withdrawals, accept pledges and act in any other manner with respect to the account on the order of the minor with like effect as if the minor were of full age and legal capacity. Any payment to a minor is a discharge of the savings bank to the extent thereof. The account shall be held for the exclusive right and benefit of the minor, and any joint owners, free from the control of all persons, except creditors.
(b) A savings bank may lease a safe deposit box to a minor and, with respect to the lease, may deal with the minor in all regards as if the minor were of full age and legal capacity. A minor entering a lease agreement with a savings bank under this subsection is bound by the terms of the agreement to the same extent as if the minor were of full age and legal capacity. (1991, c. 680, s. 1; 1991 (Reg. Sess., 1992), c. 829, s. 11.)
Structure North Carolina General Statutes
North Carolina General Statutes
§ 54C-161 - Generally accepted accounting principles.
§ 54C-163 - Net worth requirement.
§ 54C-166.1 - Payable on Death (POD) accounts.
§ 54C-167 - Personal agency accounts.
§ 54C-168 - Collection of processing fee for returned checks.
§ 54C-169 - Right of setoff on deposit accounts.
§ 54C-170 - Minors as deposit account holders.
§ 54C-171 - Deposit accounts as deposit of securities.
§ 54C-172 - New account books.
§ 54C-173 - Transfer of deposit accounts.
§ 54C-174 - Authority of power of attorney.
§ 54C-175 - Days and hours of operation.
§ 54C-176 - Power to borrow money.
§ 54C-177 - Authority to join federal reserve bank.
§ 54C-178 - Regional reciprocal acquisitions.