# Financial Institutions (GFI)

## Title 5. Banking Institutions -- General Provisions

### Subtitle 3. Deposits

#### Section 5-305

If a deposit in a banking institution is made by and in the name of a minor:

(1) The institution shall hold the money for the exclusive benefit of the minor or that minor's creditors;

(2) The minor may withdraw money from the account; and

(3) A receipt signed by the minor discharges the institution for the withdrawal.

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Md. Code Ann., Fin. Inst. (as displayed at mgaleg.maryland.gov, October 16, 2026)