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



(b)  A financial institution establishing an
individual development account shall:



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



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



(A)  The account holder; or



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