Ch. 584                                     1993 LAWS OF MARYLAND

1.        CHECKING AND OTHER DEMAND DEPOSIT ACCOUNTS;

2.       NEGOTIABLE ORDERS ORDER OF WITHDRAWAL AND
OTHER SAVINGS ACCOUNTS;

3.        SHARE DRAFT ACCOUNTS; AND

4.        CERTIFICATED AND UNCERTIFICATED TIME DEPOSIT
ACCOUNTS.

[(2)] (3) "Account agreement" means a written agreement, whether in 1 or
more instruments, that establishes the type of account, the terms of account, and the
relationship between the depository institution and the party or parties to the account.

[(3)] (4) "Beneficiary" means any person designated on a trust account as a
person:

(i) To whom the account belongs after the death of all trustees for the
account; and

(ii) Who does not possess a present right to draw upon funds in the
account during the lifetime of any trustee for the account.

[(4)](5) "Convenience person" means any person who is authorized to
draw upon funds in an account:

(i) Under a power of attorney given by 1 or more parties to the
account; or

(ii) By virtue of a designation in the account agreement appointing
that person as A CONVENIENCE PERSON OR agent of a party or the parties to the
account FOR THE CONVENIENCE OF THE PARTY OR PARTIES.

[(5)](6) "Depository institution" means any State-chartered or federally
chartered financial institution located in this State that is authorized to maintain [deposit
or share] accounts.

[(6)](7) "Joint account" means any account other than a P.O.D. account or
a trust account established in the name of 2 or more parties.

[(7)] (8) (i) "Multiple-party account" means any of the following types of
[deposit] accounts at a depository institution:

1.       Joint account;

2.       P.O.D. account; or

3.       Trust account.

(ii) "Multiple-party account" does not include any:

1. Account established AND DESIGNATED for ^:the deposit of
[any] funds of a CORPORATION, partnership, joint venture, LIMITED LIABILITY
COMPANY, or other association OF PERSONS for business purposes;

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