Minors Funds {MCSC-MF-002}

MINORS FUNDS N.C.G.S. 7A-112 When money is paid into the Clerk of Superior Courts Office on behalf of a minor, the following information is required: Minors: Full Name Social Security Number Date of Birth Parents or Guardians full name and address Monies in the Clerk of Superior Courts Office do not earn interest unless the parent or guardian gives written permission for the funds to be invested. There is a one time, 5% of principle charge (maximum of $1,000.00) against the funds if they are invested. After consulting with the parent or guardian, the funds can be invested in either a pass book savings account, a certificate of deposit, or a pooled investment trust fund. The money is held by the Clerk of Superior Court until the minor turns 18 years of age. Disbursements prior to that time may be made only if the minor is an indigent, needy child needing necessities which the parent cannot provide from other sources (e.g., medical, dental, optical, etc.). These fundsare not available for general family expenses (e.g., rent, clothes, or household expenses), or for luxury items for the minor. The parent or guardian has the duty and legal obligation to provide for their children. A COPY OF THE RECEIPT OR BILL IS REQUIRED BEFOR E A DISBURSEMENT IS MADE. MCSC-MF-002 12/98