(1)Although under
this part 2, a payment, item of property, or other benefit is included in the
decedent's nonprobate transfers to others, a payer or other third party is not liable
for having made a payment or transferred an item of property or other benefit to a
beneficiary designated in a governing instrument or for having taken any other
action in good-faith reliance on the validity of a governing instrument, upon request
and satisfactory proof of the decedent's death, before the payer or other third party
received written notice from the surviving spouse or the spouse's representative of
an intention to file a petition for the elective-share or that a petition for the
elective-share has been filed. A payer or other third party is liable for payments
made or other actions ta
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(1) Although under
this part 2, a payment, item of property, or other benefit is included in the
decedent's nonprobate transfers to others, a payer or other third party is not liable
for having made a payment or transferred an item of property or other benefit to a
beneficiary designated in a governing instrument or for having taken any other
action in good-faith reliance on the validity of a governing instrument, upon request
and satisfactory proof of the decedent's death, before the payer or other third party
received written notice from the surviving spouse or the spouse's representative of
an intention to file a petition for the elective-share or that a petition for the
elective-share has been filed. A payer or other third party is liable for payments
made or other actions taken after the payer or other third party received written
notice of an intention to file a petition for the elective-share or that a petition for
the elective-share has been filed. Any form or service of notice other than that
described in subsection (2) of this section is not sufficient to impose liability on a
payer or other third party for actions taken pursuant to the governing instrument.
(2) A written notice of intention to file a petition for the elective-share or that
a petition for the elective-share has been filed must be mailed to the payer's or
other third party's main office or home by registered or certified mail with return
receipt requested or served upon the payer or other third party in the same manner
as a summons in a civil action. Notice to a sales representative of the payer or other
third party does not constitute notice to the payer or other third party.
(3) Upon receipt of a written notice of intention to file a petition for the
elective-share or that a petition for the elective-share has been filed, a payer or
other third party may pay any amount owed or transfer to or deposit any item of
property held by it to or with the court having jurisdiction of the probate
proceedings relating to the decedent's estate or, if no proceedings have been
commenced, to or with the court having jurisdiction of probate proceedings relating
to decedents' estates located in the county of the decedent's residence. The
availability of such actions under this section does not prevent the payer or other
third party from taking any other action authorized by law or the governing
instrument. The court is the court having jurisdiction of the probate proceedings
relating to the decedent's estate or, if no proceedings have been commenced, the
court having jurisdiction of probate proceedings relating to decedents' estates
located in the county of the decedent's residence. If no probate proceedings have
been commenced, the payer or other third party shall file with the court a copy of
the written notice received by the payer or other third party, with the payment of
funds or transfer or deposit of property. The court shall not charge a filing fee to
the payer or other third party for the payment to the court of amounts owed or
transfer to or deposit with the court of any item of property even if no probate
proceedings have been commenced before such payment, transfer, or deposit.
Payment of amounts to the court or transfer to or deposit with the court of any item
of property pursuant to this section by the payer or other third party discharges the
payer or other third party from all claims under the governing instrument or
applicable law for the value of amounts paid to the court or items of property
transferred to or deposited with the court.
(4) The court shall hold the funds or item of property and, upon its
determination under section 15-11-211 (5), shall order disbursement in accordance
with the determination. If no petition is filed in the court within the specified time
under section 15-11-211 (1), or, if filed, the demand for an elective-share is withdrawn
under section 15-11-211 (4), the court shall order disbursement to the designated
beneficiary. A filing fee, if any, may be charged upon disbursement either to the
recipient or against the funds or property on deposit with the court in the discretion
of the court. Payments or transfers to the court or deposits made into the court
discharge the payer or other third party from all claims for amounts so paid or the
value of property so transferred or deposited.
(5) Upon petition to the court by the beneficiary designated in a governing
instrument, the court may order that all or part of the property be paid to the
beneficiary in an amount and subject to conditions consistent with this section.