Payment made pursuant to Code Section 7-1-816, 7-1-817, 7-1-818, or 7-1-819 discharges the financial institution from all claims for amounts so paid, whether or not the payment is consistent with the beneficial ownership of the account as between parties, P.O.D. payees, or beneficiaries or their successors. The protection here given does not extend to payments made after a financial institution has received written notice from any party able to request present payment to the effect that withdrawals in accordance with the terms of the account should not be permitted.
History. Code 1933, § 41A-3811, enacted by Ga. L. 1976, p. 1388, § 8.
Structure Georgia Code
Chapter 1 - Financial Institutions
Article 8 - Multiple-Party Accounts
§ 7-1-812. Ownership During Lifetime
§ 7-1-813. Rights of Survivorship
§ 7-1-814. Changing Terms of Account
§ 7-1-815. Survivorship Transfers Nontestamentary
§ 7-1-817. Financial Institution Protection — Payment From Joint Account After Death or Disability
§ 7-1-818. Financial Institution Protection — Payment of p.o.d. Account
§ 7-1-819. Financial Institution Protection — Payment of Trust Account
§ 7-1-821. Financial Institution Protection — Right to Setoff