Delaware § 3405 Trust funds; how kept and deposited

Delaware Statutes

§ 3405 — Trust funds; how kept and deposited

Delaware·Title 5·Part Other Businesses Under Jurisdiction of State Banking Department·Ch. 34 PRENEED FUNERAL CONTRACTS

All trust funds mentioned in this chapter shall be deposited in the name of the trustee, as trustee, within 30 days after receipt thereof, with an insured institution and shall be held together with the interest, dividends or accretions thereon in trust subject to this chapter. The trustee at the time of making deposit or investment shall furnish to the insured institution the name of each payor and the amount of payment on each account for which the deposit or investment is being made.

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All trust funds mentioned in this chapter shall be deposited in the name of the trustee, as trustee, within 30 days after receipt thereof, with an insured institution and shall be held together with the interest, dividends or accretions thereon in trust subject to this chapter. The trustee at the time of making deposit or investment shall furnish to the insured institution the name of each payor and the amount of payment on each account for which the deposit or investment is being made.

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Legislative History

24 Del. C. 1953, § 3123; 58 Del. Laws, c. 415, § 2 ; 63 Del. Laws, c. 145, § 1 ; 68 Del. Laws, c. 389, § 5 ; 69 Del. Laws, c. 165, § 14 ; 71 Del. Laws, c. 19, §§ 10, 16