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Ordinary Deposit
Article 420
- (1)
- Under a contract of bank deposit a bank shall undertake to keep for consideration the submitted thereto bank notes, securities or other movable items.
- (2)
- The depositor may at any time demand the return of a deposited item, even where it has been agreed that the deposit shall continue for a certain period of time. In such a case the depositor shall owe payment only for the duration of time of keeping the article, but he should pay the bank the expenses incurred thereby in view of the agreed duration of the deposit.
Monetary Deposit
Article 421
- (1)
- In the case of a monetary deposit the bank shall owe the sum of money to the depositor in the same currency and to the same amount, as well as the agreed interest.
- (2)
- In the case of early withdrawal of sums from a time cash deposit, interest shall be due as for demand deposit, unless otherwise agreed.
Documents for Deposit
Article 422
- (1)
- In the case of a monetary deposit the bank shall issue to the depositor documents for all contributions to and payments from the deposit.
- (2)
- In the case of a difference between the data under the bank batch and the document issued by the bank to the depositor, the data in the issued document shall be assumed to be true, until proven to the contrary.
- (3)
- If the deposit document issued is lost, destroyed or stolen, the depositor shall be obliged to notify forthwith the bank in writing. The bank shall not be liable if before the receipt of such notification it has paid in good faith a sum to a person, who appeared authorized to receive such sum on the grounds of indisputable circumstances.
Authorization
Article 423
A proxy may draw sums from a monetary deposit, provided the power of attorney bears a signature certified by the notary public.
Management of Securities
Article 424
A bank may undertake to manage deposited securities by exercising the rights thereon, unless otherwise agreed.
Conditioned Deposit and Deposit in Favour of a Third Party
Article 425
In the case of a conditioned deposit or in favour of a third party, if the condition does not occur or the third party dies, the deposited monies, securities or other movable articles shall be returned to the depositor.
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