All Roll Calls
Yes: 135 • No: 0
North DakotaSB 21232025 Regular SessionSenate
AN ACT to create and enact chapter 6-08.6 of the North Dakota Century Code, relating to the Uniform Special Deposits Act; and to provide for application.
Sponsored By: Senate Industry and Business
Signed by Governor
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Bill Overview
Analyzed Economic Effects
1 provisions identified: 0 benefits, 0 costs, 1 mixed.
Special deposits gain protections but limit remedies
North Dakota creates rules for special deposits at banks and credit unions under written agreements. Deposits must benefit at least two beneficiaries, use government-authorized money, and make payment depend on a stated event or condition. The agreement must state a governmental, regulatory, business, charitable, or estate-related purpose. The rules cover agreements signed beginning August 1, 2025. Older agreements qualify only when everyone entitled to amend them agrees and the deposit meets these requirements. Banks must have enough finally collected funds before paying; payment is then due immediately unless the agreement says otherwise. With insufficient funds, beneficiaries can accept available money or a proportional share, ending the bank’s obligation to them. Banks can pay by crediting another transaction account or using another method allowed by the agreement or law. Creditors generally cannot seize the deposit itself. They can reach payments already owed to a named recipient only through properly served process that identifies the recipient and allows reasonable response time. Banks generally cannot use deposits to offset debts, but exceptions cover agreement-authorized offsets, permitted fees, administration costs, and mistaken credits. Courts can block payment only when it would cause or help material fraud involving the deposit. Depositors and beneficiaries have payment rights, not ownership of the deposit itself. Banks owe no special duty to put their interests first. Banks must review required payment records within a reasonable time and can rely in good faith on apparently genuine records. Damages cover losses directly caused by violations; other law must authorize additional types of damages. Core protections cannot be waived, and amendments may require beneficiary consent. Unless agreed otherwise, deposits end five years after first funding. At termination, remaining money goes to the depositor if a beneficiary cannot be identified or located, ending the bank’s obligation. The stated purpose must continue, though banks need not monitor it unless agreed. A finding that the purpose has ended removes key protections from later deposits and allows termination or other necessary action. Other deposit, consumer protection, contract, and unclaimed-property laws continue to apply when consistent.
Sponsors & Cosponsors
Sponsor
Senate Industry and Business
Affiliation unavailable
Cosponsors
There are no cosponsors for this bill.
Roll Call Votes
House vote • 3/14/2025
Second reading, passed, yeas 88 nays 0
Yes: 88 • No: 0
Senate vote • 1/16/2025
Second reading, passed, yeas 47 nays 0
Yes: 47 • No: 0
Actions Timeline
Filed with Secretary Of State 03/20
3/24/2025HouseSigned by Governor 03/20
3/21/2025SenateSent to Governor
3/19/2025SenateSigned by President
3/19/2025SenateSigned by Speaker
3/19/2025HouseReturned to Senate
3/17/2025SenateSecond reading, passed, yeas 88 nays 0
3/14/2025HouseReported back, do pass, place on calendar 10 0 4
3/13/2025HouseCommittee Hearing 03:45
3/12/2025HouseIntroduced, first reading, referred Industry, Business and Labor Committee
2/13/2025HouseReceived from Senate
1/17/2025HouseSecond reading, passed, yeas 47 nays 0
1/16/2025SenateReported back, do pass, place on calendar 5 0 0
1/15/2025SenateCommittee Hearing 10:30
1/13/2025SenateIntroduced, first reading, referred Industry and Business Committee
1/7/2025Senate
Bill Text
Enrollment
INTRODUCED
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