72-6-222. Payment on multiple-party account. A financial institution, on request, may pay sums on deposit in a multiple-party account to:
(1) one or more of the parties, whether or not another party is disabled, incapacitated, or deceased when payment is requested and whether or not the party making the request survives another party; or
(2) the personal representative or a successor claiming under 72-3-1101 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 as either a party or beneficiary, unless the account is without right of survivorship under 72-6-212.
History: En. Sec. 97, 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