Marc Snyder
- Democratic
- Representative
- District 18
Primary
The act enacts the "Uniform Special Deposits Act" as drafted by the Uniform Law Commission, which addresses deposits at a bank where the identity of the person entitled to payment is not determined until the occurrence of a contingency identified at the time that the deposit is created. Concerns have arisen about such "special deposits" that may undermine the use of special deposits as a useful vehicle to hold funds that may be paid in the future to one or more persons depending on the resolution of one or more specified contingencies. The act addresses these concerns by reducing legal uncertainties related to the attributes that make a deposit "special" and the rights of the parties interested in the special deposit, their respective creditors, and the bank holding the special deposit prior to the resolution of the contingency. APPROVED by Governor May 17, 2024 EFFECTIVE August 7, 2024(Note: This summary applies to this bill as enacted.)
Governor Signed
Sent to the Governor
Signed by the President of the Senate
Signed by the Speaker of the House
Senate Third Reading Passed - No Amendments
Senate Second Reading Passed - No Amendments
Senate Committee on Judiciary Refer Unamended to Senate Committee of the Whole
House Third Reading Passed - No Amendments
House Third Reading Laid Over to 04/14/2024 - No Amendments
House Second Reading Special Order - Passed - No Amendments
House Committee on Finance Refer Unamended to House Committee of the Whole
| Bill Text Versions | Format |
|---|---|
| Signed Act (05/17/2024) | |
| Final Act (05/02/2024) | |
| Rerevised (04/23/2024) | |
| Revised (04/22/2024) | |
| Reengrossed (04/14/2024) | |
| Engrossed (04/11/2024) | |
| Introduced (02/12/2024) | |
| Committee Amendment |
| Document | Format |
|---|---|
| Fiscal Note FN1 (03/01/2024) | |
| Fiscal Note FN2 (07/11/2024) |
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