AZ SB1053

Amends Arizona Revised Statutes Section 6-235 regarding bank deposits made in multiple names.

Clarifies language to specify that deposits and interest "on the deposits" may be paid to any named person, regardless of whether other account holders are living.

Changes "thereof" to "of" and "thereon," to "on the deposits" for grammatical clarity and consistency.

Maintains that the receipt or order from the person receiving payment serves as valid discharge and release to the bank for such payments.