Common use of Minor Accounts Clause in Contracts

Minor Accounts. We may open accounts for a minor, receive payment or pay withdrawals on accounts by or for a minor, and act in any other matter on the order of the minor without regard to the minor’s capacity, and we are discharged from liability to the extent of any such actions. We reserve the right to require that a minor account be jointly owned by an adult. Unless a parent or guardian is a Joint Owner on a minor account, the parent or guardian shall have no rights to access or obtain information about the account. Even if a parent or guardian is a Joint Owner on a minor account, the minor as an account owner has the right at any time to withdraw the account funds and close the account. Minors under the age of 18 may not open a checking account individually. Nothing in this Agreement shall be construed so as to diminish the Credit Union’s rights with regard to minor accounts under the Texas Credit Union Act.

Minor Accounts. We may open accounts for a minor, receive payment or pay withdrawals on accounts by or for a minor, and act in any other matter on the order of the minor without regard to the minor’s capacity, and we are discharged from liability to the extent of any such actions. We reserve the right to require that a minor account be jointly owned by an adult. Unless a parent or guardian is a Joint Owner on a minor xxx xxxxx account, the parent or guardian shall have no rights to access or obtain information about the account. Even if a parent or guardian is a Joint Owner on a minor account, the minor as an account owner has the right at any time to withdraw the account funds and close the account. Minors under the age of 18 may not open a checking account individually. Nothing in this Agreement shall be construed so as to diminish the Credit Union’s rights with regard to minor accounts under the Texas Credit Union Act.