New Hampshire Revised Statutes 383-B:4-406 – Minor Accounts
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Terms Used In New Hampshire Revised Statutes 383-B:4-406
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- person: may extend and be applied to bodies corporate and politic as well as to individuals. See New Hampshire Revised Statutes 21:9
Depository banks may pay to a minor deposits to his or her credit as if he or she were of age, and the receipt by the minor shall discharge the depository bank of any liability for any payment so made. A minor shall have the power of a person of lawful age to pledge a deposit account that is owned or co-owned by the minor in order to secure a collateral obligation not exceeding the amount of the account.