Payments; trust accounts
Sec. 25. A trust account may be paid, on request:
(1) to any trustee;
(2) unless the financial institution has received written notice
that the beneficiary has a vested interest not dependent upon the
beneficiary surviving the trustee, if proof of death is presented
to the financial institution showing that the decedent was the
survivor of all other persons named on the account either as
trustee or beneficiary, to the personal representative or heirs of
a deceased trustee; and
(3) upon presentation to the financial institution of proof of
death showing that the beneficiary or beneficiaries survived all
persons named as trustee, to the beneficiary or beneficiaries.
As added by P.L.2-2002, SEC.2.
Last modified: May 24, 2006