CHAPTER 196.
OF BANKS.
AN ACT Relating to Deposits by Minors in Banks, Savings Banks, Savings Institutions and Trust Companies.
Be it enacted by the Senate and House of Representatives of the State of Delaware in General Assembly met, two-thirds of all the members of each House concurring therein:
Section 1. It shall be lawful for any Bank, Savings Bank, Savings Institution or Trust Company to receive money on deposit from or in the name of any minor, and when any deposit of money shall be made by or in the name of any minor with any Bank, Savings Bank, Savings Institution or Trust Company in this State, the same shall be held for the benefit of such depositor, in the same way and to the same extent as if such depositor were an adult person, and it shall be lawful for such depositor to make drafts or withdrawals thereof, and such deposits shall be paid, together with the dividends and interest thereon to the person in whose name the deposit shall have been made, or upon his or her written order, and the receipt or acquittance of such minor shall be a valid and sufficient release and discharge to the Bank, Savings Bank, Savings Institution or Trust Company for such deposit, or any part thereof. Provided, however, that any such Bank, Savings Bank, Savings Institution or Trust Company shall have the right to refuse any deposit offered by or in the name of a minor.
Section 2. Any minor depositing money with a Bank, Savings Bank, Savings Institution or Trust Company shall be subject in all transactions connected therewith, as between himself or herself and such Bank, Savings Bank, Savings Institution or Trust Company, to all the obligations, equities and defences to which an adult person would be subject in similar transactions.
Section 3. That all Acts or parts of Acts inconsistent herewith be and the same are hereby repealed, and this Act shall take effect immediately.
Approved February 19, A. D. 1913.