California Statutes
§ 5136. — 5136. (Enacted by Stats. 1990, Ch. 79.)
California·Code PROB Probate Code - PROB·Div. 5. DIVISION 5. NONPROBATE TRANSFERS·Part 2. PART 2. MULTIPLE-PARTY ACCOUNTS·Ch. 1. CHAPTER 1. Short Title and Definitions·Art. 2. ARTICLE 2. Definitions
(a)“Party” means a person who, by the terms of the account, has a present right, subject to request, to payment from a multiple-party account other than as an agent.
(b)A P.O.D. payee is a party, by reason of being a P.O.D. payee, only after the account becomes payable to the payee by reason of surviving all persons named as original payees.
(c)A beneficiary of a Totten trust account is a party, by reason of being a beneficiary, only after the account becomes payable to the beneficiary by reason of surviving all persons named as trustees.
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California § 5136. (5136. (Enacted by Stats. 1990, Ch. 79.)) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
Enacted by Stats. 1990, Ch. 79.