Deposits in trust. Whenever any deposit is made in any bank or credit union doing business within this state by any person in trust for another, and no other or further notice of the existence and terms of a legal and valid trust has been given in writing to the bank or credit union, upon the death of the trustee, the deposit or any part thereof, together with the dividends or interest thereon, may be paid to the person for whom the deposit was made.
Last modified: February 26, 2006