Alabama § 8-6-94 Right of Minor to Receive Dividends, Etc

Alabama Statutes

§ 8-6-94 — Right of Minor to Receive Dividends, Etc

Alabama § 8-6-94

Title 8Commercial Law and Consumer Protection

Ch. 6Securities

Art. 4Ownership by Minors

This text of Alabama § 8-6-94 (Right of Minor to Receive Dividends, Etc) is published on Counsel Stack Legal Research, covering Alabama primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ala. Code § 8-6-94 (2026).

Text

A minor may receive in his own right dividends or other moneys in respect to any securities standing in his name on the books of a corporation, bank, or business trust, and such receipt shall constitute a valid and sufficient release and discharge of the corporation, bank, or business trust for such dividends or other moneys paid to such minor, notwithstanding that the corporation, bank, or business trust may have actual or written notice of the minority of such person.

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A minor may receive in his own right dividends or other moneys in respect to any securities standing in his name on the books of a corporation, bank, or business trust, and such receipt shall constitute a valid and sufficient release and discharge of the corporation, bank, or business trust for such dividends or other moneys paid to such minor, notwithstanding that the corporation, bank, or business trust may have actual or written notice of the minority of such person.