District of Columbia § 26-506.05 Accounts for minors.

District of Columbia Statutes

§ 26-506.05 — Accounts for minors.

District of Columbia § 26-506.05

JurisdictionDistrict of Columbia

Title 26Banks and Other Financial Institutions.

Ch. 5Credit Unions.

Subch. ICredit Union Act of 2020.

Part FMember Accounts.

This text of District of Columbia § 26-506.05 (Accounts for minors.) is published on Counsel Stack Legal Research, covering District of Columbia primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

D.C. Code § 26-506.05 (2026).

Text

Payments on share and deposit accounts may be received from a minor with consent from the minor's parent or guardian. The minor may withdraw funds from these accounts, including the dividends and interest thereon. If shares are issued in the name of a minor, the redemption of any part or all of the shares, or a withdrawal of funds by payment to the minor of the shares or funds, and any declared dividends or interest, releases the District credit union from all obligations to the minor as to the shares redeemed or funds withdrawn.

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Payments on share and deposit accounts may be received from a minor with consent from the minor's parent or guardian. The minor may withdraw funds from these accounts, including the dividends and interest thereon. If shares are issued in the name of a minor, the redemption of any part or all of the shares, or a withdrawal of funds by payment to the minor of the shares or funds, and any declared dividends or interest, releases the District credit union from all obligations to the minor as to the shares redeemed or funds withdrawn.