§ 54C-170. Minors as deposit account holders. - North Carolina Statutes

§54C‑170.  Minors as deposit account holders.

(a)        A savings bank mayissue a deposit 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 the account on the order of the minor withlike effect as if the minor were of full age and legal capacity. Any payment toa minor is a discharge of the savings bank to the extent thereof. The accountshall be held for the exclusive right and benefit of the minor, and any jointowners, free from the control of all persons, except creditors.

(b)        A savings bank maylease a safe deposit box to a minor and, with respect to the 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 a savings bank under thissubsection is bound by the terms of the agreement to the same extent as if theminor were of full age and legal capacity. (1991, c. 680, s. 1; 1991(Reg. Sess., 1992), c. 829, s. 11.)