The Vermont Statutes Online
The Statutes below include the actions of the 2024 session of the General Assembly.
NOTE: The Vermont Statutes Online is an unofficial copy of the Vermont Statutes Annotated that is provided as a convenience.
Title 8 : Banking and Insurance
Chapter 204 : Powers of Financial Institutions
Subchapter 002 : DEPOSITS IN GENERAL
(Cite as: 8 V.S.A. § 14206)-
§ 14206. Deposits of minors; exemption from trustee process
(a) Payment. The governing body of a financial institution, in its discretion, may accept deposits from a minor and may pay to a minor such sum as is deposited to the credit of such person, and is due, as if such minor were of age. The check and receipt or acquittance of such minor shall be a full discharge for the amount for which it is given.
(b) Minor’s deposits exempt from trustee process. A financial institution shall not be chargeable as trustee on account of funds deposited to the credit of a minor, provided such funds are earned by or belong to such minor. (Added 1999, No. 153 (Adj. Sess.), § 2, eff. Jan. 1, 2001.)
