§ 54B-132. Minors as withdrawable account holders; safe deposit box lessees. - North Carolina Statutes

§54B‑132.  Minors as withdrawable account holders; safe deposit boxlessees.

(a)        An association mayissue a withdrawable account to a minor as the sole and absolute owner, or as ajoint owner, and receive payments, pay withdrawals, accept pledges and act inany other manner with respect to such account on the order of the minor withlike effect as if he were of full age and legal capacity.  Any payment to aminor shall be a discharge of the association to the extent thereof.  Theaccount shall be held for the exclusive right and benefit of the minor, and anyjoint owners, free from the control of all persons, except creditors.

(b)        An association maylease a safe deposit box to a minor and, with respect to such lease, may dealwith the minor in all regards as if the minor were of full age and legalcapacity.  A minor entering a lease agreement with an association pursuant tothis subsection shall be bound by the terms of the agreement to the same extentas if the minor were of full age and legal capacity. (1981,c. 282, s. 3; 1989, c. 437; 1991, c. 707, s. 6.)