Oklahoma § 6-910.12 Termination of special deposit.

Oklahoma Statutes

§ 6-910.12 — Termination of special deposit.

Oklahoma·Title 6 Banks And Trust Companies

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.

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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.

Oklahoma § 6-910.12 (Termination of special deposit.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.