6-234. Deposit of minor; school saving
plan
A. A bank may operate a deposit account in the name of a minor or in the name of
two or more persons, one or more of whom are minors, and all rights and liabilities of
the bank and any depositor arising out of such account and any act of the parties in
relation thereto shall be of the same legal effect as if the minor is of full legal age.
B. Subject to such regulations as the superintendent may prescribe for the
protection of depositors, a bank may contract with the proper authorities of any
elementary or secondary school, or of any institution caring for minors, for the
participation by the bank in any school or institutional thrift or savings plan, and it
may accept deposits at such a school or institution, either by its own collector or by
any representative of the school or institution who becomes the agent of the bank for
such purpose.
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