Payments Not Exceeding $250; When Entire Estate Under

$1000. If a minor has no guardian of his estate, money belonging to the minor not exceeding the sum of Two Hundred Fifty Dollars ($250) may be paid to a parent of the minor entitled to the custody of the minor to hold for the minor, upon written assurance of such parent that the total estate of the minor does not exceed One Thousand Dollars ($1,000) in value; and the written receipt of such parent shall be an acquittance of the person making such payment.