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): […]
Sec. 13.33.205. Designation of agent and termination of authority.
(a) By writing signed by all parties, the parties may designate as agent of all parties on an account a person other than a party. (b) Unless the terms of an agency designation provide that the authority of the agent terminates on disability or incapacity of a party, the agent’s authority survives disability and incapacity. […]
Sec. 13.33.206. Applicability.
The provisions of AS 13.33.211 – 13.33.216 concerning beneficial ownership as between parties or as between parties and beneficiaries apply only to controversies between those persons and their creditors and other successors and do not apply to the right of those persons to payment as determined by the terms of the account. AS 13.33.221 – […]
Sec. 13.33.211. Ownership during lifetime.
(a) During the lifetime of all parties, an account belongs to the parties in proportion to the net contribution of each to the sums on deposit, unless there is clear and convincing evidence of a different intent. As between parties married to each other, in the absence of proof otherwise, the net contribution of each […]