Alabama § 5-24-13 Alteration of Rights

Alabama Statutes

§ 5-24-13 — Alteration of Rights

Alabama § 5-24-13

Title 5Banks and Financial Institutions

Ch. 24Uniform Multiple-Person Accounts Act

Art. 2Ownership as Between Parties and Others

This text of Alabama § 5-24-13 (Alteration of Rights) is published on Counsel Stack Legal Research, covering Alabama primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ala. Code § 5-24-13 (2026).

Text

(a)Rights at death under Section 5-24-12 are determined by the type of account at the death of a party. The type of account may be altered by written notice given by a party to the financial institution to change the type of account or to stop or vary payment under the terms of the account. The notice must be signed by a party and received by the financial institution during the party’s lifetime.

(b)A right of survivorship arising from the express terms of the account, Section 5-24-12, or a POD designation, may not be altered by will.

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(a) Rights at death under Section 5-24-12 are determined by the type of account at the death of a party. The type of account may be altered by written notice given by a party to the financial institution to change the type of account or to stop or vary payment under the terms of the account. The notice must be signed by a party and received by the financial institution during the party’s lifetime.
(b) A right of survivorship arising from the express terms of the account, Section 5-24-12, or a POD designation, may not be altered by will.