New Jersey § 3a:6-32

§ 3a:6-32.

Any person under a duty to pay or deliver money or personal property to a minor may

perform this duty, in amounts not exceeding $5,000.00 per annum, by paying or delivering

the money or property to, (a) the minor, if he is married; (b) a parent or parents

of the minor; (c) any person having the care and custody of the minor with whom the

minor resides; (d) a guardian of the person of the minor; or (e) a financial institution

incident to a deposit in a Federally-insured savings account in the sole name of the

minor and giving notice of the deposit to the minor. This act does not apply if the person making payment or delivery has actual knowledge

that a guardian of the estate of the minor has been appointed or that an action for

the appointment of a guardian of the estate of the minor is pending. The persons, other than the minor or any financial institution under (e) above,

receiving money or property for a minor, are obligated to apply so much or all of

the money or the income or proceeds of the property for the support, maintenance,

education, general use and benefit of the minor in the manner, at the time or times

and to the extent that such persons, in an exercise of reasonable discretion, deem

suitable and proper, with or without court order, with due regard to the duty and

ability of themselves or of any other person to support the minor, and with or without

regard to any other funds, income or property which may be available for any such

purpose. But such persons may not pay themselves except by way of reimbursement for out-of-pocket

expenses for goods and services necessary for the minor's support. Any excess sums shall be preserved for future support of the minor and any balance

not so used and any property received for the minor must be turned over to the minor

when he attains 18 years of age. Persons who pay or deliver in accordance with provisions of this act are not responsible

for the proper application thereof.