Sec. 13.33.222. Payment on multiple-party account.
A financial institution, on request, may pay sums on deposit in a multiple-party account to (1) one or more of the parties whether or not another party is disabled, incapacitated, or deceased when payment is requested and whether or not the party making the request survives another party; or (2) the personal representative, if any, […]
Sec. 13.33.223. Payment on POD designation.
A financial institution, on request, may pay sums on deposit in an account with a POD designation to (1) one or more of the parties whether or not another party is disabled, incapacitated, or deceased when the payment is requested and whether or not a party survives another party; (2) the beneficiary or beneficiaries if […]
Sec. 13.33.224. Payment to designated agent.
A financial institution, on request of an agent under an agency designation for an account, may pay to the agent sums on deposit in the account whether or not a party is disabled, incapacitated, or deceased when the request is made or received and whether or not the authority of the agent terminates on the […]
Sec. 13.33.201. Definitions.
In AS 13.33.201 – 13.33.227, (1) “account” means a contract of deposit between a depositor and a financial institution and includes a checking account, savings account, certificate of deposit, and share account; (2) “agent” means a person authorized to make account transactions for a party; (3) “beneficiary” means a person named as one to whom […]
Sec. 13.33.225. Payment to minor.
If a financial institution is required or permitted to make payment under AS 13.33.201 – 13.33.227 to a minor designated as a beneficiary, payment may be made under AS 13.46.
Sec. 13.33.202. Limitation on scope.
AS 13.33.201 – 13.33.227 do not apply to (1) an account established for a partnership, joint venture, or other organization for a business purpose; (2) an account controlled by one or more persons as an agent or trustee for a corporation, unincorporated association, or charitable or civic organization; or (3) a fiduciary or trust account […]
Sec. 13.33.226. Discharge.
(a) Payment made under AS 13.33.201 – 13.33.227 in accordance with the terms of the account discharges the financial institution from all claims for amounts so paid, whether or not the payment is consistent with the beneficial ownership of the account as between parties, beneficiaries, or their successors. Payment may be made whether or not […]
Sec. 13.33.203. Types of account; existing accounts.
(a) An account may be for a single party or multiple parties. A multiple-party account may be with or without a right of survivorship between the parties. Subject to AS 13.33.212(c), either a single-party account or a multiple-party account may have a POD designation, an agency designation, or both. (b) An account established before, on, […]
Sec. 13.33.227. Setoff.
Without qualifying any other statutory right to setoff or lien and subject to any contractual provision, if a party is indebted to a financial institution, the financial institution has a right to setoff against the account. The amount of the account subject to setoff is the proportion to which the party is, or immediately before […]
Sec. 13.33.204. Forms.
(a) A contract of deposit that contains provisions in substantially the following form establishes the type of account provided, and the account is governed by the provisions of AS 13.33.201 – 13.33.227 applicable to an account of that type: UNIFORM SINGLE-OR MULTIPLE-PARTY ACCOUNT FORM PARTIES (Name one or more parties): OWNERSHIP (Select one and initial): […]