Okla. Stat. tit. 18, § 18-381.41a: Deposit accounts with minors – Authority to control –

Loans to minors prohibited.

A. Except as otherwise provided by this section, an association

lawfully doing business in this state may enter into a deposit

account with a minor as the sole and absolute owner of the account

and may pay checks and withdrawals and otherwise act with respect to

the account on the order of the minor. A payment or delivery of

rights to a minor who holds a deposit account evidenced by a receipt

or acquittance signed by the minor discharges the association to the

extent of the payment made or rights delivered.

B. If the minor is the sole and absolute owner of the deposit

account, the disabilities of minority are removed for the limited

purposes of enabling:

1. The minor to enter into a depository contract with the

association; and

2. The association to enforce the contract against the minor,

including collection of overdrafts and account fees and submission

of account history to account reporting agencies and credit

reporting bureaus.

C. A parent or legal guardian of a minor may deny the minor's

authority to control, transfer, draft on, or make withdrawals from

the minor's deposit account by notifying the association in writing.

On receipt of the notice by the association, the minor may not

control, transfer, draft on, or make withdrawals from the account

during minority except with the joinder of a parent or legal

guardian of the minor.

D. If a minor with a deposit account dies, the receipt or

acquittance of the minor's parent or legal guardian discharges the

liability of the association to the extent of the receipt of

acquittance, except that the aggregate discharges under this

subsection may not exceed Three Thousand Dollars ($3,000.00).

E. Subsection A of this section does not authorize a loan to

the minor by the bank, whether on pledge of the savings account of

the minor or otherwise, or bind the minor to repay a loan made

except as provided by subsection B of this section or other law,

unless the depository institution has obtained the express consent

and joinder of a parent or legal guardian of the minor. This

subsection does not apply to an inadvertent extension of credit

because of an overdraft from insufficient funds, returned checks or

deposits, or other shortages in a depository account resulting from

normal banking operations.