§6-221. Authority of financial institution A financial institution may enter into a contract of deposit for a multiple-party account to the same extent as 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 […]
§6-222. Payment on multiple-party account A financial institution, on request, may pay sums on deposit in a multiple-party account to: [PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).] 1. One or more of the parties. One or more of the parties, whether or not another party […]
§6-223. Payment on POD designation A financial institution, on request, may pay sums on deposit in an account with a POD designation to: [PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).] 1. One or more of the parties. One or more of the parties, whether or […]
§6-224. Payment to designated agent 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 […]
§6-225. Payment to minor If a financial institution is required or permitted to make payment pursuant to this Part to a minor designated as a beneficiary, payment may be made pursuant to the Maine Uniform Transfers to Minors Act. [PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 […]
§6-226. Discharge 1. Payments in accordance with terms of account. Payment made pursuant to this Part 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 […]
§6-227. Setoff 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 […]
