Utah Code § 7-28-112
This is the official text of Utah Code § 7-28-112, part of Utah’s Code — part of the compiled statutory law of Utah, published by the state as "Code." Browse the sections below, each linked to its official government source.
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§ 7-28-112. Term and termination.
Official statutory text
(1) Unless otherwise provided in the account agreement, a special deposit terminates five years after the date the special deposit was first funded. (2) 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. (3) A bank that pays the remaining balance as provided under Subsection (2) has no further obligation with respect to the special deposit.
Status: in_force · Read it on the official government site
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