Estate of Floy M. Christensen - Page 16

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          checks.  That is because, according to the estate, none of the              
          payees of any of those checks was a depositor referred to in RCWA           
          30.22.130 within the meaning of Wash. Rev. Code Ann. sec.                   
          30.22.040(11) (West 1986) (RCWA 30.22.040(11)).  In support of              
          that position, the estate asserts:                                          
               Depositors are defined in RCW 30.22.040(11) to include                 
               Floy Christensen, both as the owner of the funds on                    
               deposit and as a person authorized to sign on the joint                
               account, as well as her two children as people autho-                  
               rized to sign on the joint account.  The recipients of                 
               the Gift Checks, as payees of the Gift Checks, are not                 
               within the definition of depositor for the issues                      
               presented in this case.                                                
               We reject the estate’s position.  That position misconstrues           
          RCWA 30.22.130 and disregards the definition of the term “deposi-           
          tor” in RCWA 30.22.040(11) that is to apply for purposes of RCWA            
          30.22.130.  RCWA 30.22.040(11) sets forth the following two                 
          distinct definitions of the term “depositor”:                               
               30.22.040.  Definitions                                                
                    (11) “Depositor”, when utilized in determining the                
               rights of individuals to funds in an account, means an                 
               individual who owns the funds.  When utilized in deter-                
               mining the rights of a financial institution to make or                
               withhold payment, and/or to take any other action with                 
               regard to funds held under a contract of deposit,                      
               “depositor” means the individual or individuals who                    
               have the current right to payment of funds held under                  
               the contract of deposit without regard to the actual                   
               rights of ownership thereof by these individuals. * * *                
               In order to determine which of the foregoing two definitions           
          of the term “depositor” applies for purposes of RCWA 30.22.130,             
          it is necessary to determine whether the term “depositor” is used           

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