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.
Source: L. 90: Entire article R&RE, p. 915, § 1, effective July 1.
Editor's note: This section is similar to former § 15-15-108 as it existed prior to 1990.
Structure Colorado Code
Title 15 - Probate, Trusts, and Fiduciaries
Article 15 - Nonprobate Transfers on Death
Part 2 - Multiple-Person Accounts
§ 15-15-202. Limitation on Scope of Part
§ 15-15-203. Types of Account; Existing Accounts
§ 15-15-205. Designation of Agent
§ 15-15-206. Applicability of Part
§ 15-15-211. Ownership During Lifetime
§ 15-15-213. Alteration of Rights
§ 15-15-214. Accounts and Transfers Nontestamentary
§ 15-15-216. Community Property and Tenancy by the Entireties
§ 15-15-221. Authority of Financial Institution
§ 15-15-222. Payment on Multiple-Party Account
§ 15-15-223. Payment on Pod Designation