When any deposit is made by or in the name of any minor, it shall be held for the exclusive right and benefit of the minor, and free from the control or lien of all other persons, except creditors, and shall be paid, together with any interest thereon, to or upon the order of the person in whose name the deposit is made, and the check, receipt or acquittance of the minor shall be a valid and sufficient release and discharge for the deposit or any part thereof to the bank or trust company.
Mo. Rev. Stat. § 362.465
Deposits of minors
Known as the Missouri Family Trust Company Act
The act spans §§ 362–362 (204 sections).
Effective: 28 Aug 1967; (RSMo 1939 § 7996, A.L. 1967 p. 445); Prior revisions: 1929 § 5400; 1919 § 11779
Official source: Missouri Revisor of Statutes. Reproduced from public-domain Missouri statutes; confirm against the official source for the current text. Not legal advice.