Chapter 44. Bank Deposit.
Article 834. Bank deposit agreement.
1. Under a bank deposit (deposit) agreement, one party (bank), accepting a sum of money received from the other side (depositor) or received for it (deposit), undertakes to refund the deposit amount and pay interest on it on the terms and in the manner stipulated by the agreement .
2. A bank deposit agreement in which the investor is a citizen is recognized as a public contract (Article 426).
3. The rules on a bank account agreement (Chapter 45) apply to relations between a bank and a depositor on an account to which a deposit has been made, unless otherwise provided for in the rules of this chapter or derived from the essence of a bank deposit agreement.
Legal entities are not entitled to transfer funds in deposits (deposits) to other persons.
4. The rules of this chapter relating to banks shall also apply to other credit organizations accepting deposits from legal entities in accordance with the law.
Article 835. The right to attract funds in deposits.
1. Banks have the right to attract funds in deposits, to which such a right is granted in accordance with a permit (license) issued in accordance with the procedure established in accordance with the law.
2. In the event a deposit is accepted from a citizen by a person who does not have the right to do so, or in violation of the procedure established by law or bank rules adopted in accordance with it, the depositor may demand the immediate return of the deposit amount as well as payment of interest on it provided for in Article 395 of this Code, and reimbursement in excess of the amount of the percentage of all losses incurred by the depositor.
If such a person is accepted on the terms of a bank deposit agreement by a legal entity, such agreement is void (Article 168).
3. Unless otherwise provided by law, the consequences provided for by paragraph 2 of this article shall also apply in the following cases:
attracting money from citizens and legal entities through the sale of shares and other securities, the issue of which is recognized as illegal;
attracting citizens' funds in deposits of bills of exchange or other securities, excluding the receipt of deposit by their holders on demand and the exercise by the investor of other rights provided for by the rules of this chapter.
Article 836. Form of a bank deposit agreement.
1. A bank deposit agreement must be concluded in writing.
The written form of a bank deposit agreement is considered to be complied with if the deposit is certified with a savings book, savings or deposit certificate or another document issued by a bank to a depositor that meets the requirements provided for such documents by a law, bank rules established in accordance with it and business practices applied in banking practice .
2. Failure to comply with the written form of the bank deposit agreement shall entail the invalidity of this agreement. Such a contract is void.
Article 837. Types of deposits.
1. A bank deposit agreement is concluded on the terms of the deposit on demand (demand deposit) or on the terms of returning the deposit upon the expiration of the term specified by the contract (term deposit).
The contract may provide for contributions on other conditions of their return, not contrary to the law.
2. Under a bank deposit agreement of any type, the bank is obliged to issue the deposit amount or its part upon the depositor’s first request, except for deposits made by legal entities on other return terms stipulated by the agreement.
The condition of the contract on the refusal of a citizen from the right to receive a deposit on demand is void.
3. In cases where a fixed-term or other deposit other than a demand deposit is returned to the depositor upon his request before the expiration of the term or before the occurrence of other circumstances specified in the bank deposit agreement, the interest on the deposit is paid in the amount corresponding to the amount of interest paid Bank on demand deposits, if the contract does not provide a different amount of interest.
4. In cases when the depositor does not require the return of the amount of the term deposit upon the expiry of the term or the amount of the deposit made on other return terms - upon the occurrence of the circumstances stipulated by the contract, the contract is considered extended under the demand deposit conditions, unless otherwise provided by the contract.
Article 838. Interest on contributions.
1. The bank pays the investor interest on the amount of the deposit in the amount determined by the bank deposit agreement.
If there is no provision in the contract on the amount of interest paid, the bank is obliged to pay interest in the amount determined in accordance with paragraph 1 of Article 809 of this Code.
2. Unless otherwise provided by the bank deposit agreement, the bank is entitled to change the amount of interest paid on demand deposits.
In the event of a decrease in the interest rate by the bank, the new interest rate is applied to deposits made before the message to the depositors about the interest reduction, after one month from the date of the respective message, unless otherwise provided by the contract.
3. The amount of interest determined by a bank deposit agreement on a deposit made by a citizen on the terms of its issuance after a certain period of time or upon the occurrence of circumstances stipulated by the contract cannot be unilaterally reduced by the bank, unless otherwise provided by law. Under a contract of such bank deposit, concluded by a bank with a legal entity, the amount of interest cannot be unilaterally changed, unless otherwise provided by law or contract.
Article 839. The procedure for calculating interest on a deposit and their payment.
1. Interest on the amount of bank deposit is charged from the day following the day of its receipt to the bank, up to the day it is returned to the depositor inclusively, and if it is debited from the depositor’s account for other reasons, up to the day of withdrawal inclusively.
2. Unless otherwise provided by the bank deposit agreement, interest on the amount of bank deposit is paid to the depositor upon his request at the end of each quarter separately from the deposit amount, and interest unclaimed during this period increases the amount of the deposit on which interest is calculated.
When returning the deposit, all interest accrued up to this point is paid.
Article 840. Ensuring the return of the contribution.
1. The return of citizens' deposits by a bank is ensured by compulsory deposit insurance, carried out in accordance with the law, and in other cases provided for by law.
2. Ways to ensure the bank to return deposits of legal entities are determined by the bank deposit agreement.
3. When concluding a bank deposit agreement, the bank is obliged to provide the investor with information about the security of return of the deposit.
4. If the bank fails to fulfill the obligations stipulated by the law or the bank deposit agreement to ensure the return of the deposit, as well as if the security is lost or the conditions deteriorate, the depositor has the right to demand that the bank immediately return the deposit amount and pay interest on it in the amount determined in accordance with paragraph 1 of the article 809 of this Code, and compensation for damages.
Article 841. Depositing money by third parties to the account of the depositor.
Unless otherwise stipulated in the bank deposit agreement, the funds deposited into the bank in the name of the depositor from third parties shall be credited to the deposit account, indicating the necessary data on his deposit account. It is assumed that the investor has agreed to receive funds from such persons by providing them with the necessary data on the deposit account.
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 843. Savings Book.
1. Unless otherwise agreed by the parties, the conclusion of a bank deposit agreement with a citizen and the deposit of funds into his account on the deposit shall be certified by a savings book. The bank deposit agreement may provide for the issuance of a personal savings book or bearer savings book. The bearer savings book is a security.
In the savings book, the name and location of the bank (Article 54) must be indicated and certified by the bank, and if the contribution is made to the branch, also to its corresponding branch, the account number of the deposit, as well as all cash amounts credited to the account, all cash funds debited from the account, and the balance of funds on the account at the time of the savings book to the bank.
Unless a different state of the deposit is proven, the data on the deposit indicated in the savings book shall be the basis for the calculation of the deposit between the bank and the depositor.
2. The deposit, the payment of interest on it and the execution of the depositor’s instructions on transferring funds from the deposit account to other persons are made by the bank upon presentation of the savings book.
If the name savings book is lost or rendered ineligible for presentation, the bank, at the request of the depositor, gives it a new savings book.
Restoration of rights on a lost bearer savings book is carried out in the manner prescribed for bearer securities (Article 148).
Article 844. Savings (Deposit) Certificate.
1. A savings (deposit) certificate is a security certifying the amount of the deposit made to the bank and the rights of the depositor (certificate holder) to receive the deposit amount and the interest on the certificate in the bank that issued the certificate, or at any branch thereof bank.
2. Savings (deposit) certificates can be bearer or registered.
3. In case of early presentation of a savings (deposit) certificate for payment, the bank pays the deposit amount and interest paid on demand deposits, unless the terms of the certificate set a different interest rate.
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