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In Maryland can a custodian of a Uniform Transfers to Minor Act account use the money in the account as collateral for a loan. The loan will be benefiting the minor on the account.
Wiki User
∙ 15y ago
Yes, a minor can open a checking account in the state of Maryland but they might need a parent or guardian to be a joint account holder and provide consent. The specific requirements and age limits may vary between different banks and financial institutions. It's best to directly contact the bank you are interested in opening the account with to get accurate information.
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At what age can you become an independent Minor in Maryland?
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Call your state government to have them research who gave them your account if it was not you.
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No
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No.
When does a New York State UGMA account belong to the minor?
18th birthday.
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You must be past the age of a minor in your state.
What age do you have to be to draw money from your savings account?
18 Depending on your state, if the account is a UTMA/UGMA (Uniform Transfers to Minor/Uniform Gifts to Minor), the minor may not be able to withdraw money until s/he reaches 21.
