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Section 8-6-90 – Short Title.

Section 8-6-90 Short title. This article may be cited as the Securities Ownership by Minors Act. (Acts 1961, No. 1010, p. 1585, §5.)

Section 8-6-91 – Definitions.

Section 8-6-91 Definitions. In this article, unless the context otherwise requires, the following terms shall have the meanings ascribed to them by this section: (1) BANK. A bank, trust company, national banking association, savings bank, or industrial bank. (2) BROKER. A person, including a bank, lawfully engaged in the business of effecting transactions in securities […]

Section 8-6-92 – Liability of Bank, Transfer Agent, etc., for Treating Minor as Having Capacity to Exercise Security Rights; Presumption That Holder Not Minor.

Section 8-6-92 Liability of bank, transfer agent, etc., for treating minor as having capacity to exercise security rights; presumption that holder not minor. (a) A bank, broker, issuer, third-party or transfer agent incurs no liability by reason of his treating a minor as having capacity to transfer a security, to receive or to empower others […]

Section 8-6-94 – Right of Minor to Receive Dividends, Etc.

Section 8-6-94 Right of minor to receive dividends, etc. A minor may receive in his own right dividends or other moneys in respect to any securities standing in his name on the books of a corporation, bank, or business trust, and such receipt shall constitute a valid and sufficient release and discharge of the corporation, […]