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  Home >> Special Situations >> Minors  
Custodians for Minor's Account

Can there be two custodians on a minor's account in Maryland? When did the law change?


According to Section 13-310 of Title 13 of the Maryland Code (as found 6/14/2010), "Two persons may be designated as custodians of custodial property for the benefit of the same minor and that arrangement shall constitute a single custodianship." Each of the joint custodians may act independently of the other, unless a document creating the custodianship requires otherwise. The Maryland legislature's website indicates that the law was changed to permit two custodians in Chapter 435 for the 2006 session of the legislature.

Published on BankingQuestions.com 6/23/10