{"data":{"id":"us-ok/okla.-stat.-tit.-6-6-903.1","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 6, § 6-903.1","heading":"Deposit accounts for minors","body":"A. Except as otherwise provided by this section, a bank or\n\ncredit union lawfully doing business in this state may enter into a\n\ndeposit account with a minor as the sole and absolute owner of the\n\naccount and may pay checks and withdrawals and otherwise act with\n\nrespect to the account on the order of the minor. A payment or\n\ndelivery of rights to a minor who holds a deposit account evidenced\n\nby a receipt or other acquittance signed by the minor discharges the\n\nbank or credit union to the extent of the payment made or rights\n\ndelivered.\n\nB. If the minor is the sole and absolute owner of the deposit\n\naccount, the disabilities of minority are removed for the limited\n\npurposes of enabling:\n\n1. The minor to enter into a depository contract with a bank or\n\ncredit union; and\n\n2. The bank or credit union to enforce the contract against the\n\nminor, including collection of overdrafts and account fees and\n\nsubmission of account history to account reporting agencies and\n\ncredit reporting bureaus.\n\nC. A parent or legal guardian of a minor may deny the minor's\n\nauthority to control, transfer, draft on, or make withdrawals from\n\nthe minor's deposit account by notifying the bank or credit union in\n\nwriting. On receipt of the notice by the bank or credit union, the\n\nminor may not control, transfer, draft on, or make withdrawals from\n\nthe account during minority except with the joinder of a parent or\n\nlegal guardian of the minor.\n\nD. If a minor with a deposit account dies, the receipt or other\n\nacquittance of the minor's parent or legal guardian discharges the\n\nliability of the bank or credit union to the extent of the receipt\n\nor other acquittance, except that the aggregate discharges under\n\nthis subsection may not exceed Three Thousand Dollars ($3,000.00).\n\nE. Subsection A of this section does not authorize a loan to\n\nthe minor by the bank or credit union, whether on pledge of the\n\nminor's savings account or otherwise, or bind the minor to repay a\n\nloan made except as provided by subsection B of this section or\n\nother law or unless the depository institution has obtained the\n\nexpress consent and joinder of a parent or legal guardian of the\n\nminor. This subsection does not apply to an inadvertent extension\n\nof credit because of an overdraft from insufficient funds, returned\n\nchecks or deposits, or other shortages in a depository account\n\nresulting from normal banking or credit union operations.","path":["OK Code","Title 6"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os6.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"b2ba219d6a4f7ddf7aa79302ab03e44c45173604a7b52be034a29b03acb55f68","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-6-6-902","next":"us-ok/okla.-stat.-tit.-6-6-904"},"notice":"GroundRules: Original legal text. Not legal advice."}