A deposit made in any bank or credit union by a husband and wife which is primarily for a business purpose may be treated, at the option of the depositors, as a sole proprietorship account, rather than a partnership account unless a formal partnership has been formed.

Laws 1993, SB 31, c. 183, § 14, emerg. eff. July 1, 1993; Amended by Laws 2007, HB 1543, c. 80, § 6, eff. January 1, 2008 (superseded document available).