45-6-227. Set-off.
97 words·~1 min read·
/nm/chapter-45-uniform-probate-code/article-6-nonprobate-transfers/45-6-227·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Without qualifying any other statutory right to set-off or lien and subject to any contractual provision, if a party is indebted to a financial institution, the financial institution has a right to set-off against the account. The amount of the account subject to set-off is the proportion to which the party is, or immediately before death was, beneficially entitled under Section 45-6-211 NMSA 1978 or, in the absence of proof of that proportion, an equal share with all parties.
History: 1978 Comp., § 45-6-227, enacted by Laws 1992, ch. 66, § 36.
PART 3 TOD SECURITY REGISTRATION