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51A.251 MARRIED PERSONS AND MINORS.
An association may issue deposit accounts or negotiable order of withdrawal accounts to any
married person or minor as the sole and absolute owner of the account, and receive payments
thereon by or for the other, and pay withdrawals or drafts, accept pledges to the association,
and act in any other manner with respect to the accounts on the order of the married person or
minor. Any payment or delivery of rights to a married person or to any minor, or a receipt of or
acquisition signed by a married person or by a minor who holds an account, shall be a valid and
sufficient release and discharge of the association for any payment so made or delivery of rights
to the married person or minor. In the case of a minor, the receipt, acquittance, pledge or other
action required by the association to be taken by the minor shall be binding upon the minor as
if the minor were of full age and legal capacity. The parent or guardian of the minor shall not
in the capacity as parent or guardian have the power to attach or in any manner to transfer any
account issued to or in the name of the minor; provided, however, that in the event of the death
of the minor the receipt or acquittance of either parent or of a person standing in loco parentis
to the minor shall be a valid and sufficient discharge of the association for any sum or sums
not exceeding in the aggregate $2,500 unless the minor shall have given written notice to the
association to accept the signature of the parent or person.
History: 1981 c 276 s 28; 1986 c 444; 1988 c 666 s 43; 1996 c 414 art 1 s 44; 1997 c
157 s 67; 1998 c 260 s 1

Official Publication of the State of Minnesota
Revisor of Statutes