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A domestic commercial bank, Sunrise Bank, accepts a demand deposit from Maya Cruz and a time deposit from Orion Realty, Inc. The bank uses a substantial portion of its deposit liabilities to fund a loan to Quantum Build Corp., a borrower not connected to either depositor. Quantum Build later defaults, and Sunrise Bank covers the loss from its capital and reserves. Meanwhile, Maya Cruz seeks to withdraw her demand deposit, and Orion Realty, Inc. expects to redeem its time deposit at maturity, but the bank claims liquidity constraints.   (a)Identify the legal nature and ownership of bank funds versus bank deposits, naming who owns the funds and who owes what to whom under the deposit contract. (b)Discuss whether, under the General Banking Law, the bank may use deposit funds to finance loans in the ordinary course, and explain the safeguards that protect depositors against misapplication of their funds. (c)If the bank misapplies deposit funds or uses them outside permissible banking operations, what remedies or liabilities may arise for the bank and for the depositors?