# The term is also used for bonds accounts (depositum irregulare)

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- Post ID: 587438
- Modified: 2023-07-25T21:12:06+00:00
- Language: en

## Definition

A form of safekeeping of securities by a bank that is less common today. In contrast to the usual custody of securities, in this case the depositor only has a contractual claim under the law of obligations against the bank for securities of the same type and quantity; see Section 700 of the German Civil Code (BGB). In the event of the insolvency of the institution holding the securities in custody, the customer only has a claim against the insolvency estate (assets available for distribution among the unsecured creditors), but not a right of recovery (third party right). As an irregular (but = here: irregular, spurious; as in aberklug, abergläubig) custody, the Stückedepot is not subject to the provisions of the Custody Account Act; rather, a contract of deposit pursuant to Section 700 of the German Civil Code applies. - The advantage of a safe custody account is that the custodian bank usually charges the customer no or only a small custodian fee (safe custody charges). - See Custodian, Custody Act, Custody Receipt, Omnibus Account, Street Name, Custodian, Central Securities Depository, Intermediate Custody. Attention: The financial encyclopedia is protected by copyright and may only be used for private purposes without express consent! University Professor Dr. Gerhard Merk, Dipl.rer.pol., Dipl.rer.oec. Professor Dr. Eckehard Krah, Dipl.rer.pol. E-mail address: info@ekrah.com https://de.wikipedia.org/wiki/Gerhard_Ernst_Merk https://www.jung-stilling-gesellschaft.de/merk/ https://www.gerhardmerk.de/

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