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Current as of January 01, 2022 | Updated by FindLaw Staff
Whenever any bank or trust company holds on deposit funds as a part of its deposit liabilities for the account of an estate for which it is acting as executor, administrator, guardian, trustee or in any other fiduciary capacity, the liability of such institution to the estate entitled to the funds shall be at all times a preferred claim superior to all unsecured claims of other creditors, including depositors of the institution. This section shall not be construed to subordinate the security of any secured creditor of any such institution to the preference hereby accorded to the deposits of any estate.
Cite this article: FindLaw.com - Delaware Code Title 5. Banking § 916. Preference of funds held on deposit - last updated January 01, 2022 | https://codes.findlaw.com/de/title-5-banking/de-code-sect-5-916.html
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
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