APPENDIX B.

STATUTES.

Complete text of the statutes, which have been enacted in the different states, affecting trust,

joint and alternate deposits.

CALIFORNIA.

Trust Deposits. When any deposit with a bank shall be made by any person in trust for another, and no other or further notice of the existence and terms of a legal and valid trust shall have been given in writing to such bank, in the event of the death of the trustee, the same, or any part thereof, together with the dividends or interest, if any, thereon, may be paid to the person for whom the deposit was made. (Sec. 16, Banking Law, 1909).

Joint and Alternate Deposits. When a deposit with a bank shall be made by any person in the names of such depositor and another person or persons, and in form to be paid to either or the survivor or survivors of them, such deposit thereupon, and any additions thereto made by either of such persons upon the making thereof, shall become the property of such persons as joint tenants, and the same, together with all interest thereon, shall be held for the exclusive use of the persons so named, and may be paid to either during the lifetime of all or any or to the survivor or survivors after the death of one or more of them, and such payments and the receipt or acquittance of the one to whom such payment is made shall be a valid and sufficient release and discharge to said

bank for all payments made on account of such deposit." (Sec. 16, Banking Law, 1909).

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Section 2 of this act defines "bank as follows: Every person, firm, company, copartnership or corporation which conducts the business of receiving money on deposit."

CONNECTICUT.

Trust Deposits. When a deposit is made in any savings bank by one person in trust for another, the name and residence of the cestui que trust and the nature of the trust shall be disclosed, and the deposit shall be credited to the depositor as trustee for such person; and in case it be a trust created by deed, will, or udicial appointment, a certificate to that effect shall be filed at the time of the deposit. If no notice of the existence and terms of such a trust has been given in writing to the bank, in the event of the death of the trustee, the deposit, with the interest thereon, may be paid to the cestui que trust. (Gen. Stat., Sec. 3436, L. 1899, Ch. 122.)

Joint and Alternate Deposits. When a deposit has been or shall be made in any savings bank in the name of two persons and payab e to either or to the survivor, such deposit, or any part thereof, or any interest or dividend thereon, may be paid to either of said persons, and the receipt of the person so paid shall be a valid and sufficient release and discharge on account of the payment so made. (L. 1907, Chap. 61.)

IOWA.

When a deposit

Joint and Alternate Deposits. shall hereafter be made in any bank or trust company in the names of two persons, payable to either, or payable to either or the survivor, such deposit, or any part thereof,

or interest or dividend thereon, may be paid to either of said persons whether the other be living or not, and the receipt or acquittance of the person so paid shall be a valid and sufficient release and discharge to the bank, banker, or trust company for any payments so made. (L. 1911, Chap. 84.)

LOUISIANA.

Joint and Alternate Deposits. When a deposit has been made, or shall hereafter be made, in any bank, savings bank or trust company transacting business within this State, under the names of two or more persons, payable to either or payable to either of the survivors, such deposit, or any part thereof, or any interest or dividend thereon, may be paid to either of said persons, whether the other or others be living or not, and the receipt or acquittance of the person so paid shall be a valid, sufficient and complete release and discharge of the bank, savings bank, or trust company for any payment so made. When a safety deposit vault shall have been hired, or shall hereafter be hired from any bank, savings bank or trust company, transacting business in this State, under the names of two or more persons, with the right of access being given to either, or with access to either of the survivor or survivors of said persons, such survivor or survivors, whether the other or others be living or not, shall have the right of access to such deposit vault, and may remove therefrom the contents of said box; provided, that in all cases where such removal shall have been made, the said bank, savings bank or trust company, shall be exempt from any liability for permitting the said survivor or survivors access thereto. (L. 1908, p. 283.)

MAINE.

Trust Deposits. Whenever a deposit is made in trust, the name and residence of the person for whom it is made,

or the purpose for which the trust is created, shall be disclosed in writing to the bank, and the deposit shall be credited to the depositor as trustee for such person or purpose; and if no other notice of the existence and terms of a trust has been given in writing to the corporation, the deposit, with the interest thereon, may, in the event of the death of the trustee, be paid to the person for whom such deposit was made, or to his legal representative, or to some trustee appointed by the court for that purpose. (Banking Law, Sec. 19.)

Joint and Alternate Deposits. When money is deposited in the names of two or more persons, payable to either, the whole or any part thereof, may be paid to either of such persons with or without the consent of the other, before or after the death of the other. (L. 1907, Ch. 69.) When a deposit has been made or shall hereafter be made in any bank or trust company transacting business in this state, in the name of two persons, payable to either, or payable to either or the survivor, such deposit, or any part thereof, or interest or dividends thereon, may be paid to either of said persons whether the other be living or not, and the receipt or acquittance of the person so paid shall be a valid and sufficient release and discharge to such bank or trust company for any payment so made. (L. 1907, Ch. 119.)

MARYLAND.

Trust Deposits. Whenever any deposit shall be made by any person in trust for any other, and no other or further notice of the existence and terms of a legal and valid trust shall have been given to the bank, savings institution, or trust company, in the event of the death of the trustee, the same or any part thereof and any interest due thereon, may be paid to the person for whom the said deposit was made. (L. 1910, Ch. 219, Sec. 71, p. 30.)

Joint and Alternate Trust Deposits. When a deposit has been made or shall hereafter be made in any bank, savings institution or trust company, in the names of two persons, payable to either, or payable to either or the survivor, such deposit or any part thereof, or any interest or dividend thereon, may be paid to either of said persons, whether the other be living or not; and the receipt or acquittance of the person so paid shall be a valid and sufficient release and discharge to the bank for any payment so made. (L. 1910, Ch. 219, Sec. 72, p. 30.)

MASSACHUSETTS.

Trust Deposits. Whenever any deposit shall be made in such corporation (savings bank or institution for savings) by any one in trust for another, the name and residence of the person for whom such deposit is made shall be disclosed, and the deposit shall be credited to the depositor as trustee for such person; and when no other or further notice of the existence and terms of a legal and valid trust shall have been given in writing to the corporation, in the event of the death of the trustee, the deposit or any part thereof, together with the interest thereon, may be paid to the person for whom the said deposit was made, or his legal representative. (L. 1876, Ch. 203, Sec. 20.)

Joint and Alternate Deposits. When a deposit has been made, or shall hereafter be made, in any bank, savings bank or institution for savings in the names of two persons, payable to either, or payable to either or the survivor, such deposit or any part thereof, or interest or dividend thereon, if not then attached at law or in equity in a suit against either of said persons, may be paid to either of said persons, whether the other be living or not, and such payment shall discharge the bank,