STATE OF NEW HAMPSHIRE
SENATE
REPORT OF THE COMMITTEE
FOR THE CONSENT CALENDAR
Thursday, April 30, 2026
THE COMMITTEE ON Commerce
to which was referred HB 1502
AN ACT governing special bank and credit union deposits.
Having considered the same, the committee recommends that the Bill
OUGHT TO PASS
BY A VOTE OF: 5-0
Senator Tara Reardon
For the Committee
This bill, which is model legislation from the Uniform Law Commission, would regulate deposits held at banks and credit unions that are used for a specific, contingent purpose on behalf of a beneficiary. Special deposits are protected opt in escrow agreements. When a special deposit has been made, it must provide for at least two beneficiaries as well as contingencies. This bill would add a tool to a financial institution’s toolkit for the benefit of consumers and small businesses.
Aaron Jones 271-2609
FOR THE CONSENT CALENDAR
Commerce
HB 1502, governing special bank and credit union deposits.
Ought to Pass, Vote 5-0.
Senator Tara Reardon for the committee.
This bill, which is model legislation from the Uniform Law Commission, would regulate deposits held at banks and credit unions that are used for a specific, contingent purpose on behalf of a beneficiary. Special deposits are protected opt in escrow agreements. When a special deposit has been made, it must provide for at least two beneficiaries as well as contingencies. This bill would add a tool to a financial institution’s toolkit for the benefit of consumers and small businesses.