Statutes, codes, and regulations
District of Columbia Official Code
Division III - DECEDENTS' ESTATES AND FIDUCIARY RELATIONSTitle 19 - DESCENT, DISTRIBUTION, AND TRUSTSChapter 6 - NONPROBATE TRANSFERS ON DEATH; UNIFORM LAWSubchapter II - MULTIPLE-PERSON ACCOUNTS
Part C - PROTECTION OF FINANCIAL INSTITUTIONS
Section 19-602.21 - Authority of financial institution

D.C. Code § 19-602.21

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Current through codified legislation effective September 18, 2024
Section 19-602.21 - Authority of financial institution

A financial institution may enter into a contract of deposit for a multiple-party account to the same extent it may enter into a contract of deposit for a single-party account, and may provide for a POD designation and an agency designation in either a single-party account or a multiple-party account. A financial institution need not inquire as to the source of a deposit to an account or as to the proposed application of a payment from an account.

D.C. Code § 19-602.21

Apr. 27, 2001, D.C. Law 13-292, § 302(b), 48 DCR 2087.

Uniform Law: This section is based upon § 221 of the Uniform Nonprobate Transfers on Death Act (1991 Act).