Section 524.6-215 — Designation Of Agent.
524.6-215 DESIGNATION OF AGENT. (a) By a writing signed by all parties, or by less than all of the parties if the contract of deposit expressly so provides, the parties may designate, as an agent of all parties on an account, a person other than a party. (b) Unless the terms of an agency designation […]
Section 524.6-216 — Types Of Account; Existing Accounts.
524.6-216 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 section 524.6-204, either a single-party account or a multiple-party account may have a P.O.D. designation, an agency designation, or both. […]
Section 524.6-205 — Effect Of A Written Notice To Financial Institution.
524.6-205 EFFECT OF A WRITTEN NOTICE TO FINANCIAL INSTITUTION. The provisions of section 524.6-204 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 a party to the financial institution to change the form of the […]
Section 524.6-206 — Accounts And Transfers Nontestamentary.
524.6-206 ACCOUNTS AND TRANSFERS NONTESTAMENTARY. Any transfers resulting from the application of section 524.6-204 are effective by reason of the account contracts involved and this statute, and are not to be considered as subject to probate except as to the transfers expressly changed by will, as provided for by section 524.6-204, clause (d). History: 1973 […]
Section 524.6-207 — Rights Of Creditors.
524.6-207 RIGHTS OF CREDITORS. No multiple-party account will be effective against an estate of a deceased party to transfer to a survivor sums needed to pay debts, taxes, and expenses of administration, including statutory allowances to the surviving spouse, minor children and dependent children or against the state or a county agency with a claim […]
Section 524.6-208 — Financial Institution Protection; Payment On Signature Of One Party.
524.6-208 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. Any multiple-party account may be paid, on request, to any one or more of the parties. A financial institution shall not be required to inquire as to […]
Section 524.6-209 — Financial Institution Protection; Payment After Death Or Disability; Joint Account.
524.6-209 FINANCIAL INSTITUTION PROTECTION; PAYMENT AFTER DEATH OR DISABILITY; JOINT ACCOUNT. Any sums in a joint account may be paid, on request, to any party without regard to whether any other party is incapacitated or deceased at the time the payment is demanded; but payment may not be made to the personal representative or heirs […]
Section 524.6-210 — Financial Institution Protection; Payment Of P.o.d. Account.
524.6-210 FINANCIAL INSTITUTION PROTECTION; PAYMENT OF P.O.D. ACCOUNT. Any P.O.D. account may be paid, on request, to any original party to the account. Payment of the interest of a P.O.D. payee may be made, on request, to the P.O.D. payee or to the personal representative or heirs of a deceased P.O.D. payee upon presentation to […]
Section 524.6-211 — Financial Institution Protection; Discharge.
524.6-211 FINANCIAL INSTITUTION PROTECTION; DISCHARGE. Payment made pursuant to sections 524.6-208 to 524.6-210 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, P.O.D. payees, or beneficiaries by will or otherwise, or their successors. The protection here […]
Section 524.6-212 — Financial Institution Protection; Setoff.
524.6-212 FINANCIAL INSTITUTION PROTECTION; SETOFF. Without qualifying any other statutory right to setoff 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 setoff against the account in which the party has or had immediately before death […]