Section 5-24-23 – Payment on Pod Designation.
Section 5-24-23 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; […]
Section 5-24-24 – Payment to Designated Agent.
Section 5-24-24 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, incompetent, incapacitated, or deceased when the request is made or received, and whether or not the […]
Section 5-24-25 – Payment to Minor.
Section 5-24-25 Payment to minor. If a financial institution is required or permitted to make payment pursuant to this chapter to a minor designated as a beneficiary, payment may be made pursuant to the Uniform Transfers to Minors Act. (Acts 1997, No. 97-644, p. 1177, §1.)
Section 5-24-26 – Discharge.
Section 5-24-26 Discharge. (a) Payment made pursuant to this chapter in accordance with the type of 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 […]
Section 5-24-27 – Set-Off.
Section 5-24-27 Set-off. Without qualifying any other statutory right to set-off or lien and subject to any contractual provision between a party and a financial institution, if any party is indebted to a financial institution, the financial institution has a right to set-off against the entire amount of the account without regard to the net […]
Section 5-24-31 – Short Title.
Section 5-24-31 Short title. This chapter may be cited as the Uniform Multiple-Person Accounts Act. (Acts 1997, No. 97-644, p. 1177, §1.)
Section 5-24-32 – Uniformity of Application and Construction.
Section 5-24-32 Uniformity of application and construction. This chapter shall be applied and construed to effectuate its general purpose to make uniform the law with respect to the subject of this chapter among states enacting it. (Acts 1997, No. 97-644, p. 1177, §1.)
Section 5-24-33 – Supplementary General Principles of Law Applicable.
Section 5-24-33 Supplementary general principles of law applicable. Unless displaced by the particular provisions of this chapter, the principles of law and equity supplement its provisions. (Acts 1997, No. 97-644, p. 1177, §1.)
Section 5-24-34 – Transitional Provisions.
Section 5-24-34 Transitional provisions. On March 1, 1998: (1) An act done before March 1, 1998, and any accrued right is not impaired by this chapter. If a right is acquired, extinguished, or barred on the expiration of a prescribed period of time that has commenced to run by the provisions of any statute before […]
Section 5-24-14 – Accounts and Transfers Nontestamentary.
Section 5-24-14 Accounts and transfers nontestamentary. Except as a consequence of, and to the extent directed by, Section 5-24-15, a transfer resulting from the application of Section 5-24-12 is effective by reason of the terms of the account involved and this chapter and is not testamentary or subject to estate administration. (Acts 1997, No. 97-644, […]