Legal Question in Consumer Law in California

Coogan account

I have a coogan account for my 11 year old daughter. Bank of America has been taken a fee monthly for this. They say I have to have 300 dollars for them to not take a fee. And I need to have a court order to close this account. They also said after there is no money in the account Bank of America will still come after me for service fees. I thought it was illegal to take a service charge for a minors account. Alos when I opened the account with 100 dollars they never told me about the 300 dollars needing to be in the account for no service fees. They say it was in the paper work that they gave me which I do not have. But I feel I should have verbally been made aware of this. Thanks,--name removed--


Asked on 2/05/07, 6:31 pm

1 Answer from Attorneys
Tamar Israel Dyson Dyson & Associates

Re: Coogan account

They should not charge you service fees or minimum amounts. You do not need a court order if you are transferring the money into another qualifying Coogan account. Have the bank personnel show you the exact language in the paperwork which contradict this information.

In California Coogan Accounts are governed by California Family Code Sections 6250 through 6253. You do not need a court order. Check with another institution about transferring the money.

I wish you success.

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Answered on 2/05/07, 7:00 pm


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