In AS 13.33.201 – 13.33.227, (1) “account” means a contract of deposit between a depositor and a financial institution and includes a checking account, savings account, certificate of deposit, and share account; (2) “agent” means a person authorized to make account transactions for a party; (3) “beneficiary” means a person named as one to whom […]
AS 13.33.201 – 13.33.227 do not apply to (1) an account established for a partnership, joint venture, or other organization for a business purpose; (2) an account controlled by one or more persons as an agent or trustee for a corporation, unincorporated association, or charitable or civic organization; or (3) a fiduciary or trust account […]
(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 AS 13.33.212(c), either a single-party account or a multiple-party account may have a POD designation, an agency designation, or both. (b) An account established before, on, […]
(a) A contract of deposit that contains provisions in substantially the following form establishes the type of account provided, and the account is governed by the provisions of AS 13.33.201 – 13.33.227 applicable to an account of that type: UNIFORM SINGLE-OR MULTIPLE-PARTY ACCOUNT FORM PARTIES (Name one or more parties): OWNERSHIP (Select one and initial): […]
(a) By writing signed by all parties, the parties may designate as agent of all parties on an account a person other than a party. (b) Unless the terms of an agency designation provide that the authority of the agent terminates on disability or incapacity of a party, the agent’s authority survives disability and incapacity. […]
The provisions of AS 13.33.211 – 13.33.216 concerning beneficial ownership as between parties or as between parties and beneficiaries apply only to controversies between those persons and their creditors and other successors and do not apply to the right of those persons to payment as determined by the terms of the account. AS 13.33.221 – […]
(a) During the lifetime of all parties, an account belongs to the parties in proportion to the net contribution of each to the sums on deposit, unless there is clear and convincing evidence of a different intent. As between parties married to each other, in the absence of proof otherwise, the net contribution of each […]
(a) Except as otherwise provided in AS 13.33.201 – 13.33.227, on death of a party, sums on deposit in a multiple-party account belong to the surviving party or parties. If two or more parties survive and one is the surviving spouse of the decedent, the amount to which the decedent immediately before death was beneficially […]
(a) Rights at death under AS 13.33.212 are determined by the terms of the account at the death of a party. The terms of the account may be altered by written notice given by a party to the financial institution to change the terms of the account or to stop or vary payment under the […]
Except as provided in AS 13.12.201 – 13.12.214 or as a consequence of and to the extent directed by AS 13.33.215, a transfer resulting from the application of AS 13.33.212 is effective by reason of the terms of the account involved and AS 13.33.201 – 13.33.227 and is not testamentary or subject to AS 13.06 […]
(a) If other assets of the estate are insufficient, a transfer resulting from a right of survivorship or POD designation under AS 13.33.201 – 13.33.227 is not effective against the estate of a deceased party to the extent needed to pay claims against the estate and statutory allowances to the surviving spouse and children. (b) […]
(a) A deposit of community property in an account does not alter the community character of the property or community rights in the property, but a right of survivorship between parties married to each other arising from the express terms of the account or AS 13.33.212 may not be altered by will. (b) AS 13.33.201 […]
A financial institution may enter into a contract of deposit for a multiple-party account to the same extent it may enter into a contract of deposit for a single-party account and may provide for a POD designation and an agency designation in either a single-party account or a multiple-party account. A financial institution need not […]
A financial institution, on request, may pay sums on deposit in a multiple-party account to (1) one or more of the parties whether or not another party is disabled, incapacitated, or deceased when payment is requested and whether or not the party making the request survives another party; or (2) the personal representative, if any, […]
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; (2) the beneficiary or beneficiaries if […]
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, incapacitated, or deceased when the request is made or received and whether or not the authority of the agent terminates on the […]
If a financial institution is required or permitted to make payment under AS 13.33.201 – 13.33.227 to a minor designated as a beneficiary, payment may be made under AS 13.46.
(a) Payment made under AS 13.33.201 – 13.33.227 in accordance with the terms of the 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 not […]
Without qualifying any other statutory right to setoff or lien and subject to any contractual provision, if a party is indebted to a financial institution, the financial institution has a right to setoff against the account. The amount of the account subject to setoff is the proportion to which the party is, or immediately before […]
