6-433. Payment on disability or death of holder in his own right of account
163 words·~1 min read·
/az/title-6/6-433A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
A. If the holder in his own right of an account becomes a person with a disability and a conservator has been appointed, by a court of competent jurisdiction, and has qualified then the association may pay the value of such account and dividends thereon to the conservator. Until the association has actual knowledge that a conservator has been appointed, it may pay to the protected person personally and his receipt or acquittance therefor shall be a complete discharge of the association as to the amount so paid.
B. Upon the death of a holder in his own right of an account, the association, upon receipt of proper estate tax waivers, may pay the value thereof and dividends thereon:
1. To the personal representative of such deceased holder, if and when qualified, in the manner provided in this chapter for the voluntary withdrawal of account generally.
2. To the successor of such deceased holder upon presentation of an affidavit pursuant to section 14-3971.