§ 15-15-203 — Types of account; existing accounts

(1) 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 section 15-15-212 (3), either a
single-party account or a multiple-party account may have a POD designation, an
agency designation, or both.

(2) An account established before, on, or after July 1, 1990, whether in the
form prescribed in section 15-15-204 or in any other form, is either a single-party
account or a multiple-party account, with or without right of survivorship, and with
or without a POD designation or an agency designation, within the meaning of this
part 2, and is governed by this part 2.

Legislative History

Source: L. 90: Entire article R&RE, p. 911, � 1, effective July 1.