(1) 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 Washington 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, provided the parties have the approval of the presiding judicial officer.

(3) This chapter does not affect:

(a) A right or obligation relating to a deposit other than a special deposit under this chapter;

(b) Previously established common law or application of statutes regarding deposits other than special deposits under this chapter; or

(c) The voidability of a deposit or transfer that is fraudulent or voidable under other law.