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. 13.33.301. Definitions.
In AS 13.33.301 – 13.33.310, (1) “beneficiary form” means a registration of a security that indicates the present owner of the security and the intention of the owner regarding the person who will become the owner of the security upon the death of the owner; (2) “POD” means “pay on death”; (3) “register,” including its […]
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 […]
Sec. 13.33.212. Rights at death.
(a) Except as otherwise provided in AS 13.33.201 – 13.33.227, on death of a party, sums on deposit in a multiple-party account belong to the surviving party or parties. If two or more parties survive and one is the surviving spouse of the decedent, the amount to which the decedent immediately before death was beneficially […]
Sec. 13.33.213. Alteration of rights.
(a) Rights at death under AS 13.33.212 are determined by the terms of the account at the death of a party. The terms of the account may be altered by written notice given by a party to the financial institution to change the terms of the account or to stop or vary payment under the […]
Sec. 13.33.214. Accounts and transfers nontestamentary.
Except as provided in AS 13.12.201 – 13.12.214 or as a consequence of and to the extent directed by AS 13.33.215, a transfer resulting from the application of AS 13.33.212 is effective by reason of the terms of the account involved and AS 13.33.201 – 13.33.227 and is not testamentary or subject to AS 13.06 […]
Sec. 13.33.101. Nonprobate transfers on death.
(a) A provision for a nonprobate transfer on death in an insurance policy, contract of employment, bond, mortgage, promissory note, certificated or uncertificated security, account agreement, custodial agreement, deposit agreement, compensation plan, pension plan, individual retirement plan, employee benefit plan, trust, conveyance, deed of gift, marital property agreement, or other written instrument of a similar […]