C.R.S. § 11-111-105: Requirements for special deposit.

(1) A deposit is a special deposit if it is:

(a) A deposit of funds in a bank under an account agreement;

(b) For the benefit of at least two beneficiaries, one or more of which may be a depositor;

(c) Denominated in a medium of exchange that is currently authorized or adopted by a domestic or foreign government;

(d) For a permissible purpose stated in the account agreement; and

(e) Subject to a contingency.