Legislation
SECTION 680-B
Scope; choice of law; forum
Banking (BNK) CHAPTER 2, ARTICLE 13-F
§ 680-b. Scope; choice of law; forum. 1. This article applies to a
special deposit under an account agreement that states the intention of
the parties to establish a special deposit governed by this article,
regardless of whether a party to the account agreement or a transaction
related to the special deposit, or the special deposit itself, has a
reasonable relation to this state.
2. The parties to an account agreement may choose a forum in this
state for settling a dispute arising out of the special deposit,
regardless of whether a party to the account agreement or a transaction
related to the special deposit, or the special deposit itself, has a
reasonable relation to this state.
3. This article does not affect:
(a) a right or obligation relating to a deposit other than a special
deposit under this article; or
(b) the voidability of a deposit or transfer that is fraudulent or
voidable under other law.
special deposit under an account agreement that states the intention of
the parties to establish a special deposit governed by this article,
regardless of whether a party to the account agreement or a transaction
related to the special deposit, or the special deposit itself, has a
reasonable relation to this state.
2. The parties to an account agreement may choose a forum in this
state for settling a dispute arising out of the special deposit,
regardless of whether a party to the account agreement or a transaction
related to the special deposit, or the special deposit itself, has a
reasonable relation to this state.
3. This article does not affect:
(a) a right or obligation relating to a deposit other than a special
deposit under this article; or
(b) the voidability of a deposit or transfer that is fraudulent or
voidable under other law.