45-6-221. Authority of financial institution.
91 words·~1 min read·
/nm/chapter-45-uniform-probate-code/article-6-nonprobate-transfers/45-6-221·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
A financial institution may enter into a contract of deposit for a multiple-party account to the same extent it may enter into a contract of deposit for a single-party account, and may provide for a POD designation and an agency designation in either a single-party account or a multiple-party account. A financial institution need not inquire as to the source of a deposit to an account or as to the proposed application of a payment from an account.
History: 1978 Comp., § 45-6-221, enacted by Laws 1992, ch. 66, § 30.