Uniform Special Deposits Act of 2025 clarifies criteria for special deposits, protects them from creditor process, and limits bank setoff rights.

The Uniform Special Deposits Act of 2025 establishes criteria for special deposits, clarifying that they must be designated in an account agreement, denominated in a recognized currency, and serve a permissible purpose. It protects special deposits from creditor process, ensuring they are not subject to attachment, garnishment, or similar processes unless specific conditions are met. The Act also limits banks' rights to set off or recoup against special deposits, except in certain circumstances. It allows parties to vary certain provisions by agreement, while key protections remain in place.

Uniform Special Deposits Act of 2025 clarifies criteria for special deposits, protects them from creditor process, and limits bank setoff rights.

The Uniform Special Deposits Act of 2025 establishes criteria for special deposits, clarifying that they must be designated in an account agreement, denominated in a recognized currency, and serve a permissible purpose. It protects special deposits from creditor process, ensuring they are not subject to attachment, garnishment, or similar processes unless specific conditions are met. The Act also limits banks' rights to set off or recoup against special deposits, except in certain circumstances. It allows parties to vary certain provisions by agreement, while key protections remain in place.