Any trust account may be paid, on request, to any trustee. Unless the financial institution has received written notice that the beneficiary has a vested interest not dependent upon the beneficiary’s surviving the trustee, payment may be made to the personal representative or heirs of a deceased 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. Payment may be made, on request, to the beneficiary upon presentation to the financial institution of proof of death showing that the beneficiary or beneficiaries survived all persons named as trustees. [1997 c.631 §181]
Section: Previous 708A.465 708A.470 708A.475 708A.480 708A.485 708A.490 708A.495 708A.500 708A.505 708A.510 708A.515 708A.535 708A.555 708A.560 708A.565 NextLast modified: August 7, 2008