Arkansas Code Title 23, Subtitle 2, Chapter 32, Subchapter 5 - Agency Designation on Certificates of Deposit

• § 23-32-501 - Definitions.
  In this subchapter: (1) "Account" means a contract of deposit between a depositor and a financial institution, and includes a checking account, savings account,...
• § 23-32-502 - Scope of Subchapter.
  (a) This subchapter applies to accounts in this state.(b) This subchapter does not apply to: (1) An account established for a partnership, joint venture,...
• § 23-32-503 - Forms.
  A contract of deposit that substantially contains the following form establishes an agency account, and the account is governed by the provisions of this...
• § 23-32-504 - Designation of Agent.
  (a) Unless the terms of an agency designation provide that the authority of the agent terminates on disability or incapacity of a party, the...
• § 23-32-505 - Payment to Designated Agent.
  On request of an agent under an agency designation for an account, a financial institution may, unless it actually knows that the authority of...
• § 23-32-506 - Payment to Minor.
  If a financial institution is required or permitted to make payment pursuant to this subchapter to a minor designated as a beneficiary, payment may...
• § 23-32-507 - Discharge.
  (a) (1) Payment made pursuant to this subchapter in accordance with an agency of account discharges the financial institution from all claims for amounts...
• § 23-32-508 - Setoff.
  Without qualifying any other statutory right to setoff or lien and subject to any contractual provision, if a party is indebted to a financial...
• § 23-32-509 - Effect on Other Laws.
  This subchapter is supplemental to all laws pertaining to the deposit of funds in financial institutions.

Last modified: November 15, 2016