# Rhode Island S2519: AN ACT RELATING TO FINANCIAL INSTITUTIONS -- THE RHODE ISLAND SPECIAL DEPOSITS ACT . Rhode Island S2519, AN ACT RELATING TO FINANCIAL INSTITUTIONS -- THE RHODE ISLAND SPECIAL DEPOSITS ACT ., is a 2026 Regular Session Senate bill sponsored by Mark P. McKenney (Democratic); status signed, last action 2026-06-19 (Signed by Governor — Chapter 203) (as of 2026-11-01). - Canonical: https://policyrisk.com/state-bill/RI-S2519-2026 - As of: 2026-11-01 - Plain-text twin of the page above; the HTML and this file carry the same facts. ## Facts - Bill: Rhode Island S2519 - State: Rhode Island - Session: 2026 Regular Session - Title: AN ACT RELATING TO FINANCIAL INSTITUTIONS -- THE RHODE ISLAND SPECIAL DEPOSITS ACT . - Status: signed - Chamber: Senate - Introduced: 2026-02-13 - Last action: 2026-06-19, Signed by Governor — Chapter 203 - Sponsor: Mark P. McKenney (Democratic) - Cosponsors: 4 - Touches household money: no - Roll calls: 2 (105 yes, 0 no in all) - Economic provisions PRIA read: 4 ## Summary No summary available. ## Bill overview: provisions PRIA read - New rules for special deposit accounts: benefit, low. The law sets clear rules for "special deposit" accounts at banks. An account qualifies only if the agreement says it is a special deposit, is for at least two beneficiaries, states a purpose, and is subject to a contingency. The deposit must be in lawful money. Parties can choose Rhode Island law a… - Five-year end date for special deposits: mixed, low. A special deposit ends five years after it was first funded, unless the account says otherwise. At the end, if a beneficiary cannot be found, the bank pays the balance to the depositor(s) and is done. Unclaimed property laws still apply. These rules apply to accounts made after the law took effect.… - Protections from creditors and bank setoffs: mixed, low. Creditors cannot garnish or levy a special deposit unless the bank already must pay a named person and the bank gets proper notice. Creditor papers must be served on the bank, identify the right person, and allow time to act. A court can block payment only to stop material fraud. Banks generally ca… - When beneficiaries get paid from deposits: mixed, low. Beneficiaries have a right to be paid, but do not own the deposit funds. When the stated event happens and the bank knows it, the bank must pay from collected funds unless the account says otherwise. If money is short, a beneficiary may take what is available or a pro‑rata share. The bank is not a… ## Sponsors and cosponsors - Sponsor: Mark P. McKenney (Democratic), Senate - Cosponsor: Jacob Bissaillon (Democratic), Senate - Cosponsor: Robert Britto (Democratic), Senate - Cosponsor: David P. Tikoian (Democratic), Senate - Cosponsor: Samuel D. Zurier (Democratic), Senate ## Roll call votes | Date | Chamber | Motion | Result | Yes | No | Other | | --- | --- | --- | --- | --- | --- | --- | | 2026-06-08 | House | THE RI SPECIAL DEPOSITS ACT PASSAGE IN CONCURRENCE | pass | 69 | 0 | | | 2026-05-05 | Senate | RELATING FINANCIAL INSTITUTIONS -- RI SPECIAL DEPOSITS ACT Passage | pass | 36 | 0 | | ## Actions (14) - 2026-06-19: Signed by Governor — Chapter 203 (Governor) - 2026-06-16: Transmitted to Governor (Governor) - 2026-06-08: House passed in concurrence (House) - 2026-06-05: Placed on the House Consent Calendar (06/08/2026) (House) - 2026-06-02: Committee recommends passage in concurrence - 2026-05-29: Scheduled for consideration (06/02/2026) - 2026-05-06: Referred to House Corporations (House) - 2026-05-05: Senate read and passed (Senate) - 2026-04-29: Placed on Senate Calendar (05/05/2026) (Senate) - 2026-04-28: Committee recommends passage - 2026-04-24: Scheduled for consideration (04/28/2026) - 2026-04-14: Committee recommended measure be held for further study - 2026-04-10: Scheduled for hearing and/or consideration (04/14/2026) - 2026-02-13: Introduced, referred to Senate Commerce (Senate) ## Bill text - S2519 - As Introduced, 2026-02-13: [HTML](https://webserver.rilegislature.gov/BillText26/SenateText26/S2519.htm), [PDF](https://webserver.rilegislature.gov/BillText26/SenateText26/S2519.pdf) ## Related bills - S3047: AN ACT RELATING TO COURTS AND CIVIL PROCEDURE -- PROCEDURE GENERALLY -- DISTRICT COURT PRACTICE . (became law) - H8605: JOINT RESOLUTION MAKING AN APPROPRIATION TO PAY CERTAIN CLAIMS . (became law) - H8586: AN ACT RELATING TO HIGHWAYS -- RHODE ISLAND TURNPIKE AND BRIDGE AUTHORITY . (became law) - H8580: AN ACT RELATING TO THE NORTH TIVERTON FIRE DISTRICT . (became law) - H8506: AN ACT RELATING TO TOWNS AND CITIES -- RELATING TO CENTRAL FALLS PENSION PLAN . (became law) - H8525: AN ACT RELATING TO TAXATION -- LEVY AND ASSESSMENT OF LOCAL TAXES . (became law) ## Sources - [S2519 - As Introduced (HTML)](https://webserver.rilegislature.gov/BillText26/SenateText26/S2519.htm) - [S2519 - As Introduced (PDF)](https://webserver.rilegislature.gov/BillText26/SenateText26/S2519.pdf) ## Related - [S3047: AN ACT RELATING TO COURTS AND CIVIL PROCEDURE -- PROCEDURE GENERALLY -- DISTRIC…](https://policyrisk.com/state-bill/RI-S3047-2026) - [H8605: JOINT RESOLUTION MAKING AN APPROPRIATION TO PAY CERTAIN CLAIMS .](https://policyrisk.com/state-bill/RI-H8605-2026) - [H8586: AN ACT RELATING TO HIGHWAYS -- RHODE ISLAND TURNPIKE AND BRIDGE AUTHORITY .](https://policyrisk.com/state-bill/RI-H8586-2026) - [H8580: AN ACT RELATING TO THE NORTH TIVERTON FIRE DISTRICT .](https://policyrisk.com/state-bill/RI-H8580-2026) - [H8506: AN ACT RELATING TO TOWNS AND CITIES -- RELATING TO CENTRAL FALLS PENSION PLAN .](https://policyrisk.com/state-bill/RI-H8506-2026) - [H8525: AN ACT RELATING TO TAXATION -- LEVY AND ASSESSMENT OF LOCAL TAXES .](https://policyrisk.com/state-bill/RI-H8525-2026) - [Rhode Island bills](https://policyrisk.com/states/rhode-island/bills) - [Rhode Island state hub](https://policyrisk.com/states/rhode-island) - [All state legislation](https://policyrisk.com/state-bills) Source: PRIA, https://policyrisk.com/state-bill/RI-S2519-2026 (as of 2026-11-01).