Current through 2024 Legislative Session Act Chapter 510
Section 5103 - [Effective 1/1/2025] Scope; choice of law; forum(a) This chapter applies to a special deposit under an account agreement that states the intention of the parties to establish a special deposit governed by this chapter, 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.(b) 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.(c) This chapter does not affect: (1) A right or obligation relating to a deposit other than a special deposit under this chapter; or(2) The voidability of a deposit or transfer that is fraudulent or voidable under other law.Added by Laws 2023, ch. 465,s 1, eff. 1/1/2025.