560:6-112 Financial institution protection; discharge.
§560:6-112 Financial institution protection; discharge. Payment made pursuant to section 560:6-108, 560:6-109, 560:6-110, or 560:6-111 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, payable-on-death payees, or beneficiaries, or their successors. The protection here given does […]
560:6-113 Financial institution protection; set-off.
§560:6-113 Financial institution protection; set-off. Without qualifying any other statutory right to set-off or lien and subject to any contractual provision, if a party to a multiple-party account is indebted to a financial institution, the financial institution has a right to set-off against the account in which the party has or had immediately before the […]
560:6-101 Definitions.
Cross References Effect and transition of L 1996, c 288 amendments, see §560:8-201. PART 1. MULTIPLE-PARTY ACCOUNTS §560:6-101 Definitions. In this part, unless the context otherwise requires: “Account” means a contract of deposit of funds between a depositor and a financial institution, and includes a checking account, savings account, certificate of deposit, share account and […]
560:6-102 Ownership as between parties, and others; protection of financial institutions.
§560:6-102 Ownership as between parties, and others; protection of financial institutions. The provisions of sections 560:6-103 to 560:6-105 concerning beneficial ownership as between parties and payable-on-death payees, or as between parties or beneficiaries of multiple-party accounts, are relevant only to controversies between these persons and their creditors and other successors, and have no bearing on […]
560:6-103 Ownership during lifetime.
§560:6-103 Ownership during lifetime. (a) A joint account belongs, during the lifetime of all parties, to the parties in proportion to the net contributions by each to the sums on deposit, unless there is clear and convincing evidence of a different intent. (b) A payable-on-death account belongs to the original payee during the payee’s lifetime […]
560:6-104 Right of survivorship.
§560:6-104 Right of survivorship. (a) Sums remaining on deposit at the death of a party to a joint account belong to the surviving party or parties as against the estate of the decedent unless there is clear and convincing evidence of a different intention at the time the account is created. If there are two […]
560:6-105 Effect of written notice to financial institution.
§560:6-105 Effect of written notice to financial institution. The provisions of section 560:6-104 as to rights of survivorship are determined by the form of the account at the death of a party. This form may be altered by written order given by all parties to the financial institution to change the form of the account […]
560:6-106 Accounts and transfers nontestamentary.
§560:6-106 Accounts and transfers nontestamentary. Any transfers resulting from the application of section 560:6-104 are effective by reason of the account contracts involved and this statute and are not to be considered as testamentary or subject to articles I to IV of this chapter except as provided in section 560:6-107. [L 1976, c 200, pt […]
560:6-107 Rights against multiple-party accounts.
§560:6-107 Rights against multiple-party accounts. A transfer to a survivor of a multiple-party account can be set aside, to the extent described below, in the event the assets in the hands of the personal representative of the deceased party are insufficient to pay taxes, expenses of administration, and homestead and family allowances under sections 560:2-402 […]
560:6-108 Financial institution protection; payment on signature of one party.
§560:6-108 Financial institution protection; payment on signature of one party. Financial institutions may enter into multiple-party accounts to the same extent that they may enter into single-party accounts. Subject to the provision of sections 236D-12 and 560:6-107, any multiple-party account may be paid, on request and according to its terms, to any one or more […]