Payments on share accounts and deposit accounts may be received from a minor who may withdraw funds from those accounts, including the dividends and interest thereon. Payments on share accounts and deposit accounts by a minor and withdrawal by the minor shall be valid in all respects. For such purposes a minor is deemed of full age.
§ 58-11-42 NMSA 1978
Accounts of minors
Known as the Credit Union Act
The act spans §§ 58–58 (67 sections).
Laws 1987, ch. 311, § 42.
Official source: NMOneSource (New Mexico Compilation Commission). Reproduced from public-domain New Mexico statutes; confirm against the official source for the current text. Not legal advice.