There is a newer version of the Kentucky Revised Statutes
2009 Kentucky Revised Statutes
CHAPTER 391 DESCENT AND DISTRIBUTION
391.355 Set-off.
Download pdfsubject to any contractual provision, if a party to a multiple-party account is indebted to a
financial institution, the financial institution has a right to set-off against the account in
which the party has or had immediately before his death a present right of withdrawal
without the joinder of any other party. The amount of the account subject to set-off is that
proportion to which the debtor is, or was immediately before his death, beneficially
entitled, and in the absence of actual knowledge of net contributions by the financial
institution, to an equal share with all parties having present rights of withdrawal without
the joinder of any other party. History: Created 1976 Ky. Acts ch. 218, sec. 37.
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