2011 New Mexico Statutes
Chapter 45: Uniform Probate Code
Article 6: Nonprobate Transfers, 45-6-101 through 45-6-401
Section 45-6-221: Authority of financial institution.
45-6-221. Authority of financial institution.
A financial institution may enter into a contract of deposit for a multiple-party account to the same extent it may enter into a contract of deposit for a single-party account, and may provide for a POD designation and an agency designation in either a single-party account or a multiple-party account. A financial institution need not inquire as to the source of a deposit to an account or as to the proposed application of a payment from an account.
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