The provisions of Sections 45-6-211 through 45-6-216 NMSA 1978 concerning beneficial ownership as between parties or as between parties and beneficiaries apply only to controversies between those persons and their creditors and other successors, and do not apply to the right of those persons to payment as determined by the terms of the account. Sections 45-6-221 through 45-6-227 NMSA 1978 govern the liability and set-off rights of financial institutions that make payments pursuant to those sections.
History: 1978 Comp., § 45-6-206, enacted by Laws 1992, ch. 66, § 23.
Structure New Mexico Statutes
Chapter 45 - Uniform Probate Code
Article 6 - Nonprobate Transfers
Part 2 - MULTIPLE-PERSON ACCOUNTS
Subpart 1 - Definitions And General Provisions
Section 45-6-201 - Definitions.
Section 45-6-202 - Limitation on scope.
Section 45-6-203 - Types of account; existing accounts.