14-6223. Pay on death accounts; payment
A financial institution, on request, may pay sums on deposit in an account with a pay on death designation to:
1. One or more of the parties, whether or not another party is a party with disabilities, incapacitated or deceased when the payment is requested and whether or not a party survives another party.
2. The beneficiary or beneficiaries, if proof of death is presented to the financial institution showing that the beneficiary or beneficiaries survived all persons named as parties.
3. The personal representative or, if there is none, the heirs or devisees of a deceased party, if proof of death is presented to the financial institution showing that the deceased party was the survivor of all other persons named on the account either as a party or beneficiary.
Section: Previous 14-6211 14-6212 14-6213 14-6214 14-6216 14-6221 14-6222 14-6223 14-6224 14-6225 14-6226 14-6227 14-6301 14-6302 14-6303 NextLast modified: October 13, 2016