New Mexico Statutes
Subpart 3 - Protection Of Financial Institutions
Section 45-6-223 - Payment on POD designation.

A financial institution, on request, may pay sums on deposit in an account with a POD designation to:
A. one or more of the parties, whether or not another party is disabled, incapacitated or deceased when the payment is requested and whether or not a party survives another party;
B. the beneficiary or beneficiaries, if proof of death is presented to the financial institution showing that the beneficiary or beneficiaries survived all persons named as parties; or
C. the personal representative, if any, or, if there is none, the heirs or devisees of a deceased party, 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 either as a party or beneficiary.
History: 1978 Comp., § 45-6-223, enacted by Laws 1992, ch. 66, § 32.

Structure New Mexico Statutes