§ 18318 Minor Investment Certificates

Financial Code·California

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Key Takeaways

•Kids can own investment or savings certificates in their own name.
•The money from these certificates belongs only to the kid.
•The kid can take out some or all of the money whenever they want.
•If the company pays the kid, they can't get in trouble for it later.

Example

A 12-year-old gets a savings certificate as a gift from their grandparents.

The 12-year-old can cash in the certificate whenever they want, and the bank has to give them the money. The bank won’t get in trouble for giving the money to the kid, even if the parents are mad.

AI-generated — May contain errors. Not legal advice. Always verify source.

Official Source

View on CA.gov

§ 18318 Minor Investment Certificates

Investment or thrift certificates may be issued to or in the name of a minor and as such shall be for the exclusive right and benefit of such minor and may be redeemed in whole or part by said minor or his order and payment so made is a valid release and discharge to the company for such payment. (Added by Stats. 1976, Ch. 964.)

Last verified: January 23, 2026

Key Terms

Investment or thrift certificates minor exclusive right and benefit redeemed in whole or part valid release and discharge

References

Official text at leginfo.legislature.ca.gov
California Legislature. Financial Code. Section 18318.

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Key Terms

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References

Key Takeaways

Example

Key Terms

Related Statutes

References