§ 15-15-223 — Payment on POD designation

Colorado § 15-15-223

• Jurisdiction: Colorado
• Title 15: Probate,
• Art.: Nonprobate Transfers on Death

Text

A financial institution, on request,
may pay sums on deposit in an account with a POD designation to:

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

(2) The beneficiary or beneficiaries, if proof of death is presented to the
financial institution showing that the beneficiary or beneficiaries survived all
persons named as parties; or

(3) 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.

Legislative History

Source: L. 90: Entire article R&RE, p. 915, � 1, effective July 1.