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2019 Code of Alabama
Title 8 - Commercial Law and Consumer Protection.
Chapter 6 - Securities.
Article 4 - Ownership by Minors.
Section 8-6-94 - Right of minor to receive dividends, etc.
Universal Citation: AL Code § 8-6-94 (2019)
Section 8-6-94Right 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, bank, or business trust for such dividends or other moneys paid to such minor, notwithstanding that the corporation, bank, or business trust may have actual or written notice of the minority of such person.
(Acts 1961, No. 1010, p. 1585, §4.)
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