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Utah Code § 7-28-104

Requirements for special deposit

Utah · Utah Code Title 7 — Financial Institutions Act · Status: effective

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Utah Code § 7-28-104, Requirements for special deposit, Utah, version 1 as recorded 2026-10-03, yourstate.us, https://yourstate.us/provision/2324660
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A deposit is a special deposit if the deposit 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 stated in the account agreement; and (5) subject to a contingency.