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.

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Professor Dr. Eckehard Krah, Dipl.rer.pol.
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