§ 5136
98 words·~1 min read·
/ca/probate-code/5136A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(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 than as an agent.
(b)A P.O.D. payee is a party, by reason of being a P.O.D. payee, only after the account becomes payable to the payee by reason of surviving all persons named as original payees.
(c)A beneficiary of a Totten trust account is a party, by reason of being a beneficiary, only after the account becomes payable to the beneficiary by reason of surviving all persons named as trustees.