§ 30.22.090. Ownership of funds during lifetime of depositor
Subject to community property rights, during the lifetime of a depositor, or the joint lifetimes of depositors:
(1) Funds on deposit in a single account belong to the depositor.
(2) Funds on deposit in a joint account without right of survivorship and in a joint account with right of survivorship belong to the depositors in proportion to the net funds owned by each depositor on deposit in the account, unless the contract of deposit provides otherwise or there is clear and convincing evidence of a contrary intent at the time the account was created.
(3) Funds on deposit in a trust or P.O.D. account belong to the depositor and not to the trust or P.O.D. account beneficiary or beneficiaries; if two or more depositors are named on the trust or P.O.D. account, their rights of ownership to the funds on deposit in the account are governed by subsection (2) of this section.
(4) Ownership of funds on deposit in an agency account shall be determined in accordance with subsections (1), (2), and (3) of this section depending upon whether the principal is a depositor on a single account, joint account, joint account with right of survivorship, or trust or P.O.D. account.
[1981 c 192 § 9.]
Sections: Previous 30.22.030 30.22.040 30.22.041 30.22.050 30.22.060 30.22.070 30.22.080 30.22.090 30.22.100 30.22.110 30.22.120 30.22.130 30.22.140 30.22.150 30.22.160 NextLast modified: April 7, 2009