2011 New Mexico Statutes
Chapter 45: Uniform Probate Code
Article 6: Nonprobate Transfers, 45-6-101 through 45-6-401
Section 45-6-223: Payment on POD designation.
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.
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