Requires Department of Human Services to ensure child 12 years of age or older in custody of department for at least six consecutive months is entitled to assistance to establish savings account at financial institution.Requires Department of Human Services, child-caring agency and foster home to ensure child receiving care or services from department, agency or home for at least six consecutive months is entitled to establish savings account in child's name for child's sole use and benefit upon child reaching 12 years of age.]
Requires Department of Human Services to ensure child 12 years of age or older in custody of department for at least six consecutive months is entitled to assistance to establish savings account at financial institution.
Authorizes child to contract with financial institution to establish savings account.
Provides that consent of parent, guardian, foster parent or person with legal custody of child is not necessary for child to establish savings account and that parent, guardian, foster parent or person with legal custody of child is not entitled to be account holder or to have access to child's account without child's written authorization with certain exceptions].
Limits liability of financial institution that establishes savings account.
Entitles department to monitor use of moneys in child's account when required to ensure continuation of receipt of state and federal benefits for child.
Directs department to encourage child who is eligible for services for persons with intellectual or other developmental disabilities to establish account unless department determines doing so is not in child's best interests.].
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