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Term and termination.

Utah Code § 7-28-112
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7-28-112. Term and termination. (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. Enacted by Chapter 482, 2025 General Session
Source: Utah Office of Legislative Research and General Counsel (le.utah.gov)URL: https://le.utah.gov/xcode/Title7/Chapter28/7-28-S112.html?v=C7-28-S112_2025050720250507Fetched: 10/26/2026

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