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 […]
Section 524.6-213 — Forms.
524.6-213 FORMS. Subdivision 1. Survivorship account. Deposits made using a form of account containing the following language signed by the depositor shall be conclusive evidence of the intent of the depositor, in the absence of fraud or misrepresentation, subject, nevertheless, to other disposition made by will as provided in section 524.6-204, clause (d), to establish […]
Section 524.6-214 — Citation.
524.6-214 CITATION. Sections 524.6-201 to 524.6-214 may be cited as the “Minnesota Multiparty Accounts Act.” History: 1973 c 619 s 1; 1987 c 384 art 2 s 1; 1994 c 472 s 63
Section 524.5-903 — Effect Of Registration.
524.5-903 EFFECT OF REGISTRATION. (a) Upon registration of a guardianship or protective order from another state, the guardian or conservator may exercise in this state all powers authorized in the order of appointment except as prohibited under the laws of this state, including maintaining actions and proceedings in this state and, if the guardian or […]
Section 524.6-201 — Definitions.
524.6-201 DEFINITIONS. Subdivision 1. Scope. As used in sections 524.6-201 to 524.6-214, the terms defined in this section have the meanings given them. Subd. 2. Account. “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 other […]
Section 524.6-202 — Ownership As Between Parties, And Others; Protection Of Financial Institutions.
524.6-202 OWNERSHIP AS BETWEEN PARTIES, AND OTHERS; PROTECTION OF FINANCIAL INSTITUTIONS. The provisions of sections 524.6-203 to 524.6-205 concerning beneficial ownership as between parties, or as between parties and P.O.D. payees 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 […]
Section 524.6-203 — Ownership During Lifetime.
524.6-203 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 P.O.D. account belongs to the original purchasing or depositing party during […]
Section 524.6-204 — Right Of Survivorship.
524.6-204 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: (1) there is clear and convincing evidence of a different intention; or (2) there is a different disposition made by a […]