Arizona Arizona Revised Statutes
§ 6-255 — Requirements for special deposits
ARS § 6-255Title 6. Banks and Financial Institutions · Ch. 2. BANK ORGANIZATION AND REGULATION · Art. 5.1. Special Deposits
Statute text
View on source6-255. Requirements for special deposits 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 as stated in the account agreement; and 5. Subject to a contingency.