D.C. Code § 28-2954 – Requirements for special deposit. | Midpage

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Code of the District of Columbia

§ 28-2954

D.C. Code § 28-2954

Requirements for special deposit.

Effective Feb 3, 2026Feb. 3, 2026, D.C. Law 26-84, § 2(b)

(a) A deposit is a special deposit if it is:
1. (1) A deposit of funds in a bank under an account agreement;
2. (2) For the benefit of at least 2 beneficiaries, one or more of which may be a depositor;
3. (3) Denominated in a medium of exchange that is currently authorized or adopted by a domestic or foreign government;
4. (4) For a permissible purpose stated in the account agreement; and
5. (5) Subject to a contingency.

History

Feb. 3, 2026, D.C. Law 26-84, § 2(b)