130                               LAWS OF MARYLAND                           [CH. 4

guardian of the property of such minor, the circuit court of the
county in which the minor resides or the court in which the estate is
being administered may order that such money be deposited in any
banking institution or insured savings and loan association formed
under the laws of this State or in this State under the laws of the
United States to be named in the order, in which it may draw inter-
est, in the name of the minor, subject, however, to the order of such
court where it shall remain, and the trustee or any person having
custody of the minor, shall retain the book of deposit or receipt for
such deposit until the minor reaches the age of twenty-one, or a
guardian is appointed, and such order and the deposit made in pur-
suance thereof shall be a release to the trustee or personal repre-
sentative.

502. Powers Exercisable directly by Minors.

(a)   Conveyances of Certain Property by Married female minors.—
Any married female who has attained the age of sixteen years and
who holds title to property with her husband as tenants by the en-
tireties is hereby authorized to join with her husband in an instru-
ment of conveyancing, either a deed or a mortgage, in the same
manner, to the same extent and with the same effect as a person of
the full age of twenty-one years.

(b)    Conveyances by minors who are veterans. Any war veteran
or member of the armed services eligible for the benefits of the
Servicemen's Readjustment Act of 1944, and amendments thereto,
who is under twenty-one years of age, may, for the purpose of ob-
taining the benefits of said act, mortgage real estate owned by him,
buy real estate and execute a mortgage to cover the purchase money,
or execute a deed for the sale of real estate so purchased, or execute
notes or make such other agreements and do such other things as
may be necessary to obtain the benefits of the said Servicemen's Re-
adjustment Act, and amendments thereto, and also may execute re-
leases of claims in the same manner and with the same effect as
though twenty-one years of age. The minor husband or wife of any
said war veteran or member of the armed services may join in any
such deed or mortgage for the purpose of releasing rights of dower
and other rights in the same manner and with the same effect as
though twenty-one years of age.

(c)    Powers of Minors to Purchase and deal with Insurance.

(1) Annuities or life or health insurance of minors.—A minor
not less than fifteen (15) years of age at his nearest birthday may,
notwithstanding such minority, contract for annuities and for life
or health insurance on his own life or body, or on the person of an-
other in whom the minor has an insurable interest, and may exercise
all rights and powers with respect to or under the contract for an-
nuity or for insurance upon his own life or body, or any contract
such m