Text: HF00606 Text: HF00608 Text: HF00600 - HF00699 Text: HF Index Bills and Amendments: General Index Bill History: General Index
PAG LIN
1 1 Section 1. Section 524.805, subsection 5, is amended to
1 2 read as follows:
1 3 5. Except as provided in section 524.807, a state bank may
1 4 receive deposits by or in the name of a minor and may deal
1 5 with a minor with respect to a deposit account without the
1 6 consent of a parent, guardian, or conservator and with the
1 7 same effect as though the minor were an adult. Any action of
1 8 the minor with respect to such deposit account shall be
1 9 binding on the minor with the same effect as though an adult.
1 10 A state bank that receives deposits by or in the name of a
1 11 minor shall notify the parent, guardian, or conservator of the
1 12 minor by certified mail that a deposit account has been opened
1 13 by or in the name of the minor. The cost of preparing and
1 14 mailing this notice shall be paid by the minor opening the
1 15 deposit account.
1 16 EXPLANATION
1 17 This bill amends Code section 524.805, subsection 5, to
1 18 provide that when a minor opens a deposit account in a state
1 19 bank, the bank shall notify the parent, guardian, or
1 20 conservator of the minor by certified mail that the account
1 21 has been opened, with the cost for preparing and mailing the
1 22 notice to be borne by the minor opening the deposit account.
1 23 LSB 2895HH 79
1 24 av/cls/14
Text: HF00606 Text: HF00608 Text: HF00600 - HF00699 Text: HF Index Bills and Amendments: General Index Bill History: General Index
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