Rhode Island H7265: AN ACT RELATING TO FINANCIAL INSTITUTIONS -- THE RHODE ISLAND SPECIAL DEPOSITS ACT (Establishes the Rhode Island Special Deposits Act to be governed by an account agreement between the bank and the depositor or its beneficiary.)

What the bill says

To amend the agreement agree to make the deposit a special deposit governed by this chapter; and (ii) The special deposit referenced in the amended agreement satisfies § 19-35-5. 19-35-17. Severability clause. If a provision of this chapter or its application to a person or circumstance is held invalid, the invalidity does not affect any other provision or application of this chapter that can be given effect without the invalid provision. SECTION 2. This act shall take effect upon passage. ======== LC004287 ======== LC004287 - Page 8 of EXPLANATION BY THE LEGISLATIVE COUNCIL OF ANACT RELATING.

From the introduced text, January 23, 2026:

to amend the agreement agree to make the deposit a special deposit governed by this chapter; and (ii) The special deposit referenced in the amended agreement satisfies § 19-35-5. 19-35-17. Severability clause. If a provision of this chapter or its application to a person or circumstance is held invalid, the invalidity does not affect any other provision or application of this chapter that can be given effect without the invalid provision. SECTION 2. This act shall take effect upon passage. ======== LC004287 ======== LC004287 - Page 8 of EXPLANATION BY THE LEGISLATIVE COUNCIL OF ANACT RELATING TO FINANCIAL INSTITUTIONS -- THE RHODE ISLAND SPECIAL DEPOSITS ACT *** This act would establish the Rhode Island Special Deposits Act to be governed by an account agreement between the bank and the depositor or its beneficiary. This act would take effect upon passage. ======== LC004287 ======== LC004287 - Page 9 of

Read the full official text

Sponsors

• Jason Knight (D, HD-067) · primary sponsor
• Hagan McEntee, Carol (D, HD-033)
• (D, HD-065)