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Delaware Code
2025 Delaware Code
Title 5 - Banking
Chapter 51. Uniform Special Deposits Act
§ 5113. Term and termination.
Universal Citation:
5 DE Code § 5113 (2025)
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§ 5113. Term and termination.
(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.
84 Del. Laws, c. 465, § 1;
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