If the person entitled to a prize or any winning ticket is under the age of 18 years, and such prize is less than $5,000, the Director may direct payment of the prize by delivery to an adult member of the minor's family or a guardian of the minor of a check or draft payable to the order of such minor. If the person entitled to a prize or any winning ticket is under the age of 18 years, and such prize is $5,000 or more, the Director may direct payment of such minor by depositing the amount of the prize in any bank to the credit of an adult member of the minor's family or a guardian of the minor as custodian for such minor. The person so named as custodian shall have the same duties and powers as a person designated as a custodian in a manner prescribed by the “Virgin Islands Uniform Gifts to Minors Act”, and for the purposes of this section the terms “adult member of a minor's family”, “guardian of a minor” and “bank” shall have the same meaning as in said Act. The Director shall be discharged of all further liability upon payment of a prize to a minor pursuant to this section.