There is a newer version of the Kentucky Revised Statutes
2009 Kentucky Revised Statutes
CHAPTER 391 DESCENT AND DISTRIBUTION
391.350 Discharge.
Download pdffrom 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 to the effect that
withdrawals in accordance with the terms of the account should not be permitted. Unless
the notice is withdrawn by the person giving it, any other party to the account and the
successor of any deceased party must concur in any demand for withdrawal if the
financial institution is to be protected under this section. No other notice or any other
information shown to have been available to a financial institution shall affect its right to
the protection provided here. The protection here provided shall have no bearing on the
rights of parties in disputes between themselves or their successors concerning the
beneficial ownership of funds in, or withdrawn from, multiple-party accounts. History: Created 1976 Ky. Acts ch. 218, sec. 36.
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