2006 Minnesota Statutes

52.13 DEPOSITS IN NAME OF MINOR.
Any deposit made in the name of a minor, or shares issued in a minor's name, shall be held
for the exclusive right and benefit of the minor, free from the control or lien of all other persons
except creditors, and together with the dividends or interest thereon shall be paid to the minor; and
the minor's receipt, check, or acquittance in any form shall be a sufficient release and discharge
of the depository for the deposits or shares, or any part thereof, until a conservator or guardian
appointed for the minor shall have delivered a certificate of appointment to the depository.
Deposits may be accepted pursuant to the authority set forth in chapter 527, provided that either
the custodian or the minor is a member of the credit union accepting the deposit.
History: (7774-13) 1925 c 206 s 13; 1949 c 88 s 6; 1961 c 331 s 7; 1985 c 292 s 6; 1997
c 157 s 42