WILLIAM DONALD SCHAEFER, Governor                           S.B. 707

(H) ANY WRITTEN MATERIALS REQUIRED BY THIS SECTION TO BE GIVEN TO
ACCOUNT PARTIES:

(1)      SHALL BE DEEMED GIVEN IF:

(I)       DELIVERED IN PERSON TO ANY ONE OF THE ACCOUNT
PARTIES; OR

(II)     MAILED TO THE ACCOUNT PARTY OR PARTIES BY FIRST-CLASS
MAIL, POSTAGE PREPAID, TO THE ADDRESS FOR THE ACCOUNT SHOWN ON THE
RECORDS OF THE DEPOSITORY INSTITUTION; AND

(2)       MAY BE PROVIDED ALONG WITH OR AS PART OF OTHER MATERIALS
GIVEN TO ACCOUNT PARTIES.

(I) (1) A PERSON WHO HAS AN OWNERSHIP INTEREST IN AN ACCOUNT
THAT IS NOT A MULTIPLE-PARTY ACCOUNT MAY DESIGNATE ANOTHER PERSON AS
A CONVENIENCE PERSON ON THAT ACCOUNT.

(2) NO FUNDS IN THE ACCOUNT SHALL BELONG TO ANY CONVENIENCE
PERSON BY REASON OF THAT CAPACITY.

Article - Courts and Judicial Proceedings

11-603.

(b) (1) A garnishment against property held in a bank, trust company, credit
union, savings bank, or savings and loan association, or any of their affiliates or
subsidiaries, by one [party] PERSON in trust for that [party] PERSON and another
[party] PERSON or [parties] PERSONS, is not valid unless all of the [parties] PERSONS
are judgment debtors.

(2)      A GARNISHMENT AGAINST PROPERTY HELD IN A BANK, TRUST
COMPANY, CREDIT UNION, SAVINGS BANK, OR SAVINGS AND LOAN ASSOCIATION,
OR ANY OF THEIR AFFILIATES OR SUBSIDIARIES, BY ONE OR MORE PERSONS IN
TRUST FOR ANOTHER PERSON OR PERSONS, IS NOT VALID UNLESS ALL OF THE
PERSONS ARE JUDGMENT DEBTORS.

(3)      A GARNISHMENT AGAINST PROPERTY HELD IN A BANK, TRUST
COMPANY, CREDIT UNION, SAVINGS BANK, OR SAVINGS AND LOAN ASSOCIATION,
OR ANY OF THEIR AFFILIATES OR SUBSIDIARIES, TO BE PAYABLE ON THE DEATH OF
ONE OR MORE PERSONS TO ANOTHER PERSON OR PERSONS, IS NOT VALID UNLESS
ALL OF THE PERSONS ARE JUDGMENT DEBTORS.

SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall take effect
October June 1, 1993.

May 27, 1993

The Honorable Thomas V. Mike Miller, Jr.

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