72-6-203. Types of account -- existing accounts. (1) An account may be for a single party or multiple parties. A multiple-party account may be with or without a right of survivorship between the parties. Subject to 72-6-212(3), either a single-party account or a multiple-party account may have a POD designation, an agency designation, or both.
(2) An account established before, on, or after October 1, 1993, whether in the form prescribed in 72-6-204 or in any other form, is either a single-party account or a multiple-party account, with or without right of survivorship and with or without a POD designation or an agency designation, within the meaning of this part, and is governed by this part.
History: En. Sec. 86, Ch. 494, L. 1993.
Structure Montana Code Annotated
Title 72. Estates, Trusts, and Fiduciary Relationships
Chapter 6. Nonprobate Transfers on Death
Part 2. Multiple-Party Accounts
72-6-202. Limitation on scope of part
72-6-203. Types of account -- existing accounts
72-6-205. Designation of agent
72-6-206. Applicability of beneficial ownership provisions
72-6-207. through 72-6-210 reserved
72-6-211. Ownership during lifetime
72-6-213. Alteration of rights
72-6-214. Accounts and transfers nontestamentary
72-6-216. Community property and tenancy by entireties
72-6-217. through 72-6-220 reserved
72-6-221. Authority of financial institution
72-6-222. Payment on multiple-party account
72-6-223. Payment on POD designation
72-6-224. Payment to designated agent
72-6-228. Liability of nonprobate transferees for creditor claims and statutory allowances