§ 15-105. Agreement of fiduciary and surety for deposit of assets

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(a) Making deposit. -- Any fiduciary, or party of whom a bond, undertaking or other obligation is required, may agree or arrange with his surety for a general or a special deposit for safekeeping of any money, assets and other property, for which he is or may be responsible, with a bank, savings bank, safe deposit or trust company authorized by law to do business and situate in the county in which his bond is filed.

(b) Withdrawal of deposit. -- The deposit shall be made in a manner as to prevent the withdrawal or alienation of money, assets, or other property, or any part of it, without the written consent of the surety, or an order of a court, made on notice to the surety as the court directs.

HISTORY: An. Code 1957, art. 16, § 199B; 1974, ch. 11, § 2.

                    
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