§ 14-6203 — Types of accounts; existing accounts

A. An account may be for a single party or multiple parties. A multiple party account may be with or without a right of survivorship between the parties. Subject to the requirements of section 14-6212, subsection C, either a single party account or a multiple party account may have a pay on death designation or an agency designation, or both.

B. An account established before or after December 31, 1994, whether in the form prescribed in section 14-6204 or in any other form, is either a single party account or a multiple party account, with or without the right of survivorship, and with or without a pay on death designation or designating an agent, within the meaning of this section and is governed by this section.