§ 15-15-204 — Forms

(1) A contract of deposit that contains provisions in
substantially the following form establishes the type of account provided, and the
account is governed by the provisions of this part 2 applicable to an account of that
type:

UNIFORM SINGLE- OR MULTIPLE-PARTY ACCOUNT FORM

PARTIES [Name One Or More Parties]:

____________________

____________________

OWNERSHIP [Select One And Initial]:

_____ SINGLE-PARTY ACCOUNT

_____ MULTIPLE-PARTY ACCOUNT

Parties own account in proportion to net contributions unless there is clear and
convincing evidence of a different intent.

RIGHTS AT DEATH [Select One And Initial]:

_____ SINGLE-PARTY ACCOUNT

At death of party, ownership passes as part of party's estate.

_____ SINGLE-PARTY ACCOUNT WITH POD (PAY ON DEATH) DESIGNATION

[Name One Or More Beneficiaries]:

______________________________

At death of party, ownership passes to POD beneficiaries and is not part of party's
estate.

_____ MULTIPLE-PARTY ACCOUNT WITH RIGHT OF SURVIVORSHIP

At death of party, ownership passes to surviving parties.

_____ MULTIPLE-PARTY ACCOUNT WITH RIGHT OF SURVIVORSHIP AND POD
(PAY ON DEATH) DESIGNATION

[Name One Or More Beneficiaries]:

______________________________

At death of last surviving party, ownership passes to POD beneficiaries and is not
part of last surviving party's estate.

_____ MULTIPLE-PARTY ACCOUNT WITHOUT RIGHT OF SURVIVORSHIP

At death of party, deceased party's ownership passes as part of deceased party's
estate.

AGENCY (POWER OF ATTORNEY) DESIGNATION [Optional]

Agents may make account transactions for parties but have no ownership or rights
at death unless named as POD beneficiaries.

[To Add Agency Designation To Account, Name One Or More Agents]:

______________________________

[Select One And Initial]:

_____ AGENCY DESIGNATION SURVIVES DISABILITY OR INCAPACITY OF PARTIES

_____ AGENCY DESIGNATION TERMINATES ON DISABILITY OR INCAPACITY OF
PARTIES

(2) A contract of deposit that does not contain provisions in substantially the
form provided in subsection (1) is governed by the provisions of this part 2
applicable to the type of account that most nearly conforms to the depositor's
intent.

Legislative History

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