District of Columbia Statutes
§ 28-2954 — Requirements for special deposit.
District of Columbia·Title 28 Commercial Instruments and Transactions. [Enacted title]·Ch. 29A Uniform Special Deposits.
(a)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 2 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.
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