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§ 19-602-23 — District of Columbia Law | CourtGPT
  1. Home/
  2. Laws/
  3. District of Columbia/
  4. Title 19 - Descent, Distribution, and Trusts. [Enacted Title]/
  5. Chapter 6 - Nonprobate Transfers on Death; Uniform Lawsub/
  6. Subchapter II - Multiple-person Accounts/
  7. Part C - Protection of Financial Institutions§ 19–602.21. Authority of Financial Institution/
  8. § 19-602-23
District of Columbia Legal Code
23. Payment on POD designation. 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 has a disability, is 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. (Apr. 27, 2001, D.C. Law 13-292, § 302(b), 48 DCR 2087; Apr. 24, 2007, D.C. Law 16-305, § 33(c), 53 DCR 6198.) Effect of Amendments D.C. Law 16-305, in par. (1), substituted 'has a disability' for 'is disabled'. Editor's Notes Uniform Law: This section is based upon § 223 of the Uniform Nonprobate Transfers on Death Act (1991 Act).

§ 19-602-23

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