Colorado § 15-15-222 Payment on multiple-party account

Colorado Statutes

§ 15-15-222 — Payment on multiple-party account

Colorado·Title 15 Probate,·Art. Nonprobate Transfers on Death

A financial institution, on request, may pay sums on deposit in a multiple-party account to:

(1)One or more of the parties, whether or not another party is disabled, incapacitated, or deceased when payment is requested and whether or not the party making the request survives another party; or

(2)The personal representative, if any, or, if there is none, the heirs or devisees of a deceased party if proof of death is presented to the financial institution showing that the deceased party was the survivor of all other persons named on the account either as a party or beneficiary, unless the account is without right of survivorship under section 15-15-212.

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A financial institution, on
request, may pay sums on deposit in a multiple-party account to:

(1) One or more of the parties, whether or not another party is disabled,
incapacitated, or deceased when payment is requested and whether or not the
party making the request survives another party; or

(2) The personal representative, if any, or, if there is none, the heirs or
devisees of a deceased party if proof of death is presented to the financial
institution showing that the deceased party was the survivor of all other persons
named on the account either as a party or beneficiary, unless the account is without
right of survivorship under section 15-15-212.

Colorado § 15-15-222 (Payment on multiple-party account) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.