Section 15-15-223 - Payment on POD designationA 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.L. 90: Entire article R&RE, p. 915, § 1, effective July 1.This section is similar to former §15-15-110 as it existed prior to 1990.