Delaware § 5113 Term and termination

Delaware Statutes

§ 5113 — Term and termination

Delaware § 5113

Title5

PartMiscellaneous Provisions

Ch. 51Uniform Special Deposits Act

This text of Delaware § 5113 (Term and termination) is published on Counsel Stack Legal Research, covering Delaware primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Del. Code tit. 5, § 5113 (2026).

Text

(a)Unless otherwise provided in the account agreement, a special deposit terminates 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.

Free access — add to your briefcase to read the full text and ask questions with AI

(a) Unless otherwise provided in the account agreement, a special deposit terminates 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.