Article 842. Contributions in favor of third parties.

1. A deposit may be made to a bank in the name of a certain third party. Unless otherwise provided by the bank deposit agreement, such a person shall acquire the rights of the depositor from the moment he lodges a first claim with the bank based on these rights, or by expressing to the bank other means to use these rights. The indication of the name of a citizen (Article 19) or the name of a legal entity (Article 54), in whose favor the contribution is made, is an essential condition of the relevant bank deposit agreement. A bank deposit agreement in favor of a citizen who has died at the time of the conclusion of the contract, or a legal entity that does not exist at this time is void. 2. Before the third person expresses his intention to use the rights of a depositor, a person who has entered into a bank deposit agreement may use the rights of a depositor in relation to the funds deposited by him to his account. 3. The rules on a contract in favor of a third party (Article 430) shall apply to a bank deposit contract in favor of a third party, if this does not contradict the rules of this article and the substance of the bank deposit.

<< Article 841 TKRF Back to table of contents Article 843 TKRF >>

References to other articles of chapter 44. Bank deposit:
Article 834. Bank deposit agreement.
Article 835. The right to attract funds in deposits.
Article 836. Form of a bank deposit agreement.
Article 837. Types of deposits.
Article 838. Interest on contributions.
Article 839. The procedure for calculating interest on a deposit and their payment.
Article 840. Ensuring return of the contribution.