Okla. Stat. tit. 6, § 6-903.1

A. Except as otherwise provided by this section, a bank or

credit union lawfully doing business in this state may enter into a

deposit account with a minor as the sole and absolute owner of the

account and may pay checks and withdrawals and otherwise act with

respect to the account on the order of the minor. A payment or

delivery of rights to a minor who holds a deposit account evidenced

by a receipt or other acquittance signed by the minor discharges the

Oklahoma Statutes - Title 6. Banks and Trust Companies Page 109

bank or credit union to the extent of the payment made or rights

delivered.

B. If the minor is the sole and absolute owner of the deposit

account, the disabilities of minority are removed for the limited

purposes of enabling:

1. The minor to enter into a depository contract with a bank or

credit union; and

2. The bank or credit union to enforce the contract against the

minor, including collection of overdrafts and account fees and

submission of account history to account reporting agencies and

credit reporting bureaus.

C. A parent or legal guardian of a minor may deny the minor's

authority to control, transfer, draft on, or make withdrawals from

the minor's deposit account by notifying the bank or credit union in

writing. On receipt of the notice by the bank or credit union, the

minor may not control, transfer, draft on, or make withdrawals from

the account during minority except with the joinder of a parent or

legal guardian of the minor.

D. If a minor with a deposit account dies, the receipt or other

acquittance of the minor's parent or legal guardian discharges the

liability of the bank or credit union to the extent of the receipt

or other acquittance, except that the aggregate discharges under

this subsection may not exceed Three Thousand Dollars ($3,000.00).

E. Subsection A of this section does not authorize a loan to

the minor by the bank or credit union, whether on pledge of the

minor's savings account or otherwise, or bind the minor to repay a

loan made except as provided by subsection B of this section or

other law or unless the depository institution has obtained the

express consent and joinder of a parent or legal guardian of the

minor. This subsection does not apply to an inadvertent extension

of credit because of an overdraft from insufficient funds, returned

checks or deposits, or other shortages in a depository account

resulting from normal banking or credit union operations.