Set-off.
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 19-602.11 or, in the absence of proof of that proportion, an equal share with all parties.
Annotations
Apr. 27, 2001, D.C. Law 13-292, § 302(b), 48 DCR 2087 Uniform Law: This section is based upon § 227 of the Uniform Nonprobate Transfers on Death Act (1991 Act).
Sourced from the DC Council Open Law Library (public domain).
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