1. (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)