Section 5105 - [Effective 1/1/2025] Requirements for special depositA 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 2 beneficiaries, 1 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.Added by Laws 2023, ch. 465,s 1, eff. 1/1/2025.