Another classification of deposits is into "joint" and "alternate." Deposits made in two names connected by the word "and" are called "joint deposits"; those connected by the word "or" are called "alternate deposits." The making of either a joint or alternate deposit may be construed either as establishing (a) a gift, (b) a trust, or (c) joint tenancy, whereby the whole belongs to the survivor. The intention of the depositor determines which one rules. Such deposits are made to secure (1) convenience in drawing funds, or (2) to make gifts becoming effective after death and avoiding administratorship. If the intention is that the account shall be a gift, it is not valid unless the pass book is delivered during the life-time of the donor. In some States, banks are authorized to pay such accounts to either of the persons "or to a survivor of them, or to a personal representative of such survivor." Bankers should be familiar with the law on this point in their respective States.

Acknowledgment Of Joint Deposit

No............

To Institute National Bank.

The Deposits now or hereafter made to the account of the undersigned, whether made by them jointly or severally, are hereby declared to be their joint property, payable to either of them during their joint lives and to the survivor on the death of the other.

Milwaukee, Wis., ........................................................................192..................

In Presence of:

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