430                             LAWS OF MARYLAND                      [CH. 241

Sec. 2. And be it further enacted, That this Act shall take effect
June 1, 1963.

Approved April 17, 1963.

CHAPTER 241
(Senate Bill 209)

AN ACT to add new Sections 223 through 230, inclusive, to Article
16 of the Annotated Code of Maryland (1957 Edition), title
"Chancery", to be under a new sub-title "Minors' Recoveries in
Tort", and to follow immediately after Section 222 thereof, provid-
ing for the preservation for the benefit of minors of funds re-
covered by, or on behalf of, minors in certain claims, actions and
judgments in tort, and further providing a procedure for the dis-
bursement of the funds for the benefit of the minors.

Section 1. Be it enacted by the General Assembly of Maryland,
That new Sections 223 through 230, inclusive, be and they are hereby
added to Article 16 of the Annotated Code of Maryland (1957
Edition), title "Chancery", to be under a new sub-title "Minors' Re-
coveries in Tort", to follow immediately after Section 222 thereof, and
to read as follows:

Minors' Recoveries in Tort

223. It is the public policy of the State of Maryland that any sub-
stantial sum of money paid to a minor because of a claim, action or
judgment in tort should be preserved for the benefit of the minor.
When a minor, or any person, such as "next friend", by whom or in
whose name any claim or action is made or brought or judgment ob-
tained, for or on behalf of said minor, in tort, is entitled to receive a net
sum of $1,500.00 or more because of such claim, action, or judgment in
tort, the person responsible for the payment of the money shall make

payment by check made to the order of "...........................................................................,

(Name of Trustee)
Trustee under Article 16, Annotated Code of Maryland, for

......................................................................, Minor". No other act shall be necessary

(Name of Minor)
to constitute the person named a Trustee.

224. The Trustee, who is not required to give bond, shall forthwith
deposit the check in a savings account in any banking institution
formed pursuant to Article 11 of the Annotated Code, title "Banks
and Trust Companies", or in any insured savings and loan institution.

225.    The banking or savings and loan institution shall not there-
after allow the withdrawal of any of the money except upon the order
of a court of equity, unless it be to pay the money to the minor upon
the minor's attainment of his twenty-first birthday. Payment by any
such institution in accordance with the order of a court of equity, or
to a minor on or after his attaining his twenty-first birthday, shall
be a complete discharge of such institution's liability with respect to
the money so paid.

226.    A petition to a court of equity for withdrawal of any of the
minor's money may be filed by the Trustee in the county (or in Balti-