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