Bill Title: Creates the Banking Convenience Account for Depositors Act. Provides that a banking organization shall permit a depositor to open a convenience account for the purposes of permitting a convenience depositor to make deposits into that account. Provides that the convenience account shall be in the name of a depositor and the convenience depositor and in form to be paid or delivered to either for the convenience of the depositor. Contains provisions concerning the right of survivorship and gift status in relation to deposits made to a convenience account. Specifies the rights of depositors and convenience depositors. Contains provisions concerning the duties, obligations, and liabilities of banking organizations with respect to convenience accounts.

Spectrum: Bipartisan Bill

Status: (Passed) 2009-08-04 - Public Act . . . . . . . . . 96-0123 [SB0229 Detail]

Text: Latest bill text (Enrolled) [HTML]

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