§ 30.1-31-09 — (6-212) Rights at death

1. Except as otherwise provided in this chapter, on death of a party sums on deposit in a
multiple-party account belong to the surviving party or parties. If two or more parties
survive and one is the surviving spouse of the decedent, the amount to which the
decedent, immediately before death, was beneficially entitled under section 30.1-31-08
belongs to the surviving spouse. If two or more parties survive and none is the
surviving spouse of the decedent, the amount to which the decedent, immediately
before death, was beneficially entitled under section 30.1-31-08 belongs to the
surviving parties in equal shares, and augments the proportion to which each survivor,
immediately before the decedent's death, was beneficially entitled under section
30.1-31-08, and the right of survivorship continues between the surviving parties.
2. In an account with a P.O.D. designation:
a. On death of one of two or more parties, the rights in sums on deposit are
governed by subsection 1.
b. On death of the sole party or the last survivor of two or more parties, sums on
deposit belong to the surviving beneficiary or beneficiaries. If two or more
beneficiaries survive, sums on deposit belong to them in equal and undivided
shares, and there is no right of survivorship in the event of death of a beneficiary
thereafter. If no beneficiary survives, sums on deposit belong to the estate of the
last surviving party.
3. Sums on deposit in a single-party account without a P.O.D. designation, or in a
multiple-party account that, by the terms of the account, is without right of survivorship,
are not affected by death of a party, but the amount to which the decedent,
immediately before death, was beneficially entitled under section 30.1-31-08 is
transferred as part of the decedent's estate. A P.O.D. designation in a multiple-party
account without right of survivorship is ineffective. For purposes of this section,
designation of an account as a tenancy in common establishes that the account is
without right of survivorship.
4. The ownership right of a surviving party or beneficiary, or of the decedent's estate, in
sums on deposit is subject to requests for payment made by a party before the party's
death, whether paid by the financial institution before or after death, or unpaid. The
surviving party or beneficiary, or the decedent's estate, is liable to the payee of an
unpaid request for payment. The liability is limited to a proportionate share of the
amount transferred under this section, to the extent necessary to discharge the
request for payment.