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  • SECTION 680-C
    Variation by agreement or amendment
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  • ARTICLE 13-F
    Uniform Special Deposits Act
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  • SECTION 680-E
    Permissible purpose
    • This entry was published on 2025-12-12
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    SECTION 680-D

    Requirements for special deposit

    Banking (BNK) CHAPTER 2, ARTICLE 13-F

    * § 680-d. Requirements for special deposit. A deposit is a special
    deposit if it is:

    1. a deposit of funds in a bank under an account agreement;

    2. for the benefit of at least two beneficiaries, one or more of which
    may be a depositor;

    3. denominated in a medium of exchange that is currently authorized or
    adopted by a domestic or foreign government;

    4. for a permissible purpose stated in the account agreement; and

    5. subject to a contingency.

    * NB Effective January 1, 2026