- A. Unless otherwise provided in the account agreement, a special deposit terminates five (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.
Laws 2024, SB 1819, c. 174, § 13, eff. November 1, 2024.