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30A.26.030  <<  30A.26.040 >>   30A.26.050

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.
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