§ 19-602.21Title 19

Authority of financial institution.

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.

Annotations

Apr. 27, 2001, D.C. Law 13-292, § 302(b), 48 DCR 2087
Uniform Law: This section is based upon § 221 of the Uniform Nonprobate Transfers on Death Act (1991 Act).
This section is referenced in § 26-801.

Source XML

Sourced from the DC Council Open Law Library (public domain).

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