Establishes the Uniform Special Deposits Act in New Hampshire, governing special bank and credit union deposits.
The Uniform Special Deposits Act establishes rules for special deposits in New Hampshire banks and credit unions. A special deposit is defined as a deposit of funds for at least two beneficiaries, denominated in a medium of exchange authorized by a government, for a permissible purpose stated in the account agreement, and subject to a contingency. The act outlines the duties and liabilities of banks holding special deposits, including the obligation to pay beneficiaries if funds are available.
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