Colorado § 15-15-223 Payment on POD designation

Colorado Statutes

§ 15-15-223 — Payment on POD designation

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

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.

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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.

Colorado § 15-15-223 (Payment on POD designation) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.