MARVIN MANDEL, Governor                        131

(2)    Consent of guardian.—If any minor mentioned in subsection
(1) above, is possessed of an estate that is being administered by a
guardian, no such contract shall be binding upon the estate as to
payment of premiums, except as and when consented to by the
guardian and approved by the Court in which the administration of
the estate is pending, and such consent and approval shall be re-
quired as to each annual premium payment.

(3)    Payment of minor's insurance. Any annuity contract or
policy of life or health insurance procured by a minor under subsec-
tion (1) above, shall be made payable either to the minor or to his
estate, or to a person having an insurable interest in the life of the
minor.

(4) Property, casualty, and surety insurance of minors.—The
provisions of subsection (1) above shall also be applicable with re-
spect to property, casualty, and surety insurance contracted for by
any such minor upon his own property, liabilities, or other interests.

(d) Non-exclusivity. The absence of the specific mention in this
Article of any power or right granted by law to a minor prior to
the enactment of this Article is not intended to affect the existence
of such power or right.

503. Shares in Building and Loan Associations held by Minor or
by Minor and Adult Jointly.

(a)    Whenever any shares in a building or homestead association
are held in the name of any minor or minors, which term includes
any male or female under the age of twenty-one years, the same
shall be held for the exclusive right and benefit of such minor or
minors and free from the control or lien of all persons whatsoever,
except creditors, and shall be paid, with any dividends due thereon,
to the person or persons in whose name or names the shares are
held, and the receipt of such minor or minors shall be a sufficient re-
lease or discharge for such shares to the homestead or building
association.

(b)    Whenever any shares in a building or homestead association
are held in the name of any minor or minors and also in the name
of an adult, the interest of such minor or minors shall be held for
the exclusive right and benefit of such minor or minors and shall be
free from the control or lien of all persons whatsoever, except the
interest of the adult who also has an interest in said shares and ex-
cept creditors, and shall be paid, with any dividends due thereon, to
the persons in whose names the shares are held, and the receipt of
the minor or minors, as the case may be, and the adult shall be suf-
ficient release or discharge for such shares to the homestead or
building association.

Subtitle 6
Powers of Attorney

601. When Power of Attorney Not Affected by Disability.

When a principal designates another his attorney in fact or agent
by a power of attorney in writing and the writing contains the