GroundRules
← Search the law
Delaware · Through 2026-08-10 (85 Del. Laws, c. 421, 424) · Newer source version available

5 Del. C. § 5113: Term and termination.

Read at publisher ↗
Where this section sits in the code
  1. Title 5. Banking
  2. Miscellaneous Provisions
  3. CHAPTER 51. Uniform Special Deposits Act

(a) Unless otherwise provided in the account agreement, a special deposit terminates 5 years after the date the special deposit was first funded.

(b) Unless otherwise provided in the account agreement, if the bank cannot identify or locate a beneficiary entitled to payment when the special deposit is terminated, and a balance remains in the special deposit, the bank shall pay the balance to the depositor or depositors as a beneficiary or beneficiaries.

(c) A bank that pays the remaining balance as provided under subsection (b) of this section has no further obligation with respect to the special deposit.

Collected 2026-09-05T23:02:05Z. Source file · JSON

Browse this collection