California Probate Code ARTICLE 2 - Definitions

• Section 5120.
  Unless the provision or context otherwise requires, the definitions in this article govern the construction of this part.(Enacted by Stats. 1990, Ch. 79.)
• Section 5122.
  (a) “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,...
• Section 5124.
  “Agent” means a person who has a present right, subject to request, to payment from an account as an attorney in fact under a power...
• Section 5126.
  “Beneficiary” means a person named in a Totten trust account as one for whom a party to the account is named as trustee.(Enacted by Stats....
• Section 5128.
  “Financial institution” includes:(a) A financial institution as defined in Section 40.(b) An industrial loan company as defined in Section 18003 of the Financial Code.(Enacted by Stats. 1990,...
• Section 5130.
  “Joint account” means an account payable on request to one or more of two or more parties whether or not mention is made of any...
• Section 5132.
  A “multiple-party account” is any of the following types of account:(a) A joint account.(b) A P.O.D. account.(c) A Totten trust account.(Enacted by Stats. 1990, Ch. 79.)
• Section 5134.
  (a) “Net contribution” of a party to an account as of any given time is the sum of all of the following:(1) All deposits thereto made by...
• Section 5136.
  (a) “Party” means a person who, by the terms of the account, has a present right, subject to request, to payment from a multiple-party account other...
• Section 5138.
  “Payment” of sums on deposit includes all of the following:(a) A withdrawal, including payment on check or other directive of a party.(b) A pledge of sums of...
• Section 5139.
  “P.O.D.” means pay on death.(Enacted by Stats. 1990, Ch. 79.)
• Section 5140.
  “P.O.D. account” means any of the following:(a) An account payable on request to one person during the person’s lifetime and on the person’s death to one...
• Section 5142.
  “P.O.D. payee” means a person designated on a P.O.D. account as one to whom the account is payable on request after the death of one...
• Section 5144.
  “Proof of death” includes any of the following:(a) An original or attested or certified copy of a death certificate.(b) A record or report that is prima facie...
• Section 5146.
  Except to the extent the terms of the account or deposit agreement expressly provide otherwise, a financial institution “receives” an order or notice under this...
• Section 5148.
  “Request” means a proper request for withdrawal, including a check or order for payment, that complies with all conditions of the account (including special requirements...
• Section 5150.
  “Sums on deposit” means both of the following:(a) The balance payable on an account, including interest and dividends earned, whether or not included in the current...
• Section 5152.
  “Withdrawal” includes payment to a third person pursuant to a check or other directive of a party or an agent.(Enacted by Stats. 1990, Ch. 79.)

Last modified: October 22, 2018