[§257-6]  Financial institutions.  (a) Financial institutions shall be permitted to establish individual developmentaccounts pursuant to this chapter.  The financial institution shall certify tothe fiduciary organization, on forms prescribed by same and accompanied by anydocumentation required by it, that such accounts have been established pursuantto all the provisions of this chapter and that deposits have been made onbehalf of the account holder.

(b)  A financial institution establishing anindividual development account shall:

(1)  Keep the account in the name of the accountholder;

(2)  Permit deposits to be made in the account by thefollowing, subject to the indicated conditions:

(A)  The account holder; or

(B)  A contribution made on behalf of theaccount holder.  Such deposits may include moneys to match the account holder'sdeposits. [L 1999, c 160, pt of §25]