The receipt or acquittance of any minor who is the sole owner of or is a party to any account with the right to withdraw funds in a financial institution, as defined in § 13-301(h) of this title is a valid and sufficient release and discharge of the institution for any payment to the minor on any such account.

Added by Acts 1974, c. 11, § 2, eff. July 1, 1974. Amended by Acts 2000, c. 61, § 7, eff. April 25, 2000.

Formerly Art. 93A, § 503.