Missouri § 370.283 - Minors may hold or release shares — subject to lien.
Full text of Missouri Revised Statutes of Missouri § 370.283 — Minors may hold or release shares — subject to lien., with citation guidance and answers to common questions.
§ 370.283. Minors may hold or release shares — subject to lien.
1. When shares are issued in the name of any minor, the same shall be held for the exclusive right and benefit of the minor, and free from the control or lien of all other persons, except creditors, and shall be paid, together with dividends thereon, to the person in whose name the shares shall have been issued, and the receipt or acquittance of the minor shall be a valid and sufficient release and discharge to the credit union for the share or any part thereof. To the shares issued in joint tenancy in the name of any minor, all provisions of section 370.287 shall apply.
2. The credit union may require that the minor's parent, guardian, or other person responsible for the minor be a joint owner of the minor's account.
3. Shares on deposit held in the name of a minor are subject to the credit union's lien under section 370.250 and any consensual lien on pledge of shares, which may not be avoided due to the minor's status. The credit union may pay funds to a conservator appointed under section 475.045 and thereby discharge its liability to the minor for the shares. Accounts opened under the Missouri transfers* to minors law, sections 404.005 to 404.094, shall be governed by that law.
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(L. 1959 S.B. 127 § 370.282, A.L. 2013 H.B. 478)
*Word "Transfer" appears in original rolls.
---- end of effective 28 Aug 2013 ----
Source: official Missouri text · Last verified 2026-08-27
Frequently Asked Questions About Missouri § 370.283
What does Revised Statutes of Missouri § 370.283 cover?
Section 370.283 ("Minors may hold or release shares — subject to lien.") is part of the Revised Statutes of Missouri, the codified statutory law of Missouri. 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 Missouri § 370.283?
A common citation format is "Revised Statutes of Missouri § 370.283" (Missouri). 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 Missouri law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Missouri official source linked on this page or consult a licensed Missouri attorney.
How does Missouri § 370.283 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Missouri 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 Missouri.