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

Alabama Statutes

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

Alabama·Title 8 Commercial Law and Consumer Protection·Ch. 6 Securities·Art. 4 Ownership by Minors

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.

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