5 Del. C. § 5113: Term and termination.
Where this section sits in the code
- Title 5. Banking
- Miscellaneous Provisions
- 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