Statutes, codes, and regulations
Colorado Revised Statutes
Title 15 - PROBATE, TRUSTS, AND FIDUCIARIESCOLORADO PROBATE CODEArticle 15 - NONPROBATE TRANSFERS ON DEATHPart 2 - MULTIPLE-PERSON ACCOUNTS
Subpart 1 - DEFINITIONS AND GENERAL PROVISIONS
Section 15-15-204 - Forms

Colo. Rev. Stat. § 15-15-204

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Current through Chapter 123 of the 2024 Legislative Session
Section 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.

C.R.S. § 15-15-204

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