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 […]
560:6-108 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 […]
560:6-109 Financial institution protection; payment after death or disability; joint account.
§560:6-109 Financial institution protection; payment after death or disability; joint account. Subject to the provisions of sections 236D-12 and 560:6-107 any sums in a joint account may be paid, on request and according to its terms, to any party without regard to whether any other party is incapacitated or deceased at the time the payment […]
560:6-110 Financial institution protection; payment of payable-on-death account.
§560:6-110 Financial institution protection; payment of payable-on-death account. Any payable-on-death account may be paid, on request, to any original party to the account. Payment may be made, on request, to the payable-on-death payee or to the personal representative or heirs of a deceased payable-on-death payee upon presentation to the financial institution of proof of death […]
560:6-111 Financial institution protection; payment of trust account.
§560:6-111 Financial institution protection; payment of trust account. Subject to the provisions of section 560:6-107, any trust account may be paid, on request and according to its terms, to any trustee. Unless the financial institution has received written notice or has actual knowledge that the beneficiary has a vested interest not dependent upon the beneficiary’s […]
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 […]