Maryland § 13-502
Full text of Maryland Maryland Code § 13-502, with citation guidance and answers to common questions.
§ 13-502.
(a) If money is distributable from a trust or estate or from any other source to a minor and there is no legally appointed guardian of the property of the minor, the circuit court of the county in which the minor resides or the court in which the estate is being administered may order that the money be deposited in any financial institution described in § 13-301(h) of this title to be named in the order so that it draws interest in the name of the minor.
(b) The funds so deposited remain subject to the order of the court. The trustee or any person having custody of the minor shall retain the book of deposit or receipt for the deposit until the minor reaches the age of majority, or a guardian is appointed, and the order and deposit made pursuant to it constitute a release to the trustee or personal representative.
Frequently Asked Questions About Maryland § 13-502
What does Maryland Code § 13-502 cover?
Section 13-502 is part of the Maryland Code, the codified statutory law of Maryland. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Maryland § 13-502?
A common citation format is "Maryland Code § 13-502" (Maryland). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Maryland law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Maryland official source linked on this page or consult a licensed Maryland attorney.
How does Maryland § 13-502 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Maryland can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Maryland.