Unless your state has a provision in its deposit account laws allowing for an "adult for minor" account form other than UTMA or UGMA, don't allow an account to be set up like that. An example would be "Randy Carey for Baby Carey." That's an open invitation to problems down the road. And don't even think about accepting an account set up with the baby as a joint owner, even if your state allows minors to be joint account holders. The simple fact is that the infant can't sign the contract, so it cannot be an owner of the account.
John S. Burnett
Fighting for Compliance since 1976
Bankers' Threads User #8