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2019 Code of Alabama
Title 5 - Banks and Financial Institutions.
Chapter 24 - Uniform Multiple-Person Accounts Act.
Article 2 - Ownership As Between Parties and Others.
Section 5-24-13 - Alteration of rights.
Universal Citation: AL Code § 5-24-13 (2019)
Section 5-24-13Alteration of rights.
(a) Rights at death under Section 5-24-12 are determined by the type of account at the death of a party. The type of account may be altered by written notice given by a party to the financial institution to change the type of account or to stop or vary payment under the terms of the account. The notice must be signed by a party and received by the financial institution during the party's lifetime.
(b) A right of survivorship arising from the express terms of the account, Section 5-24-12, or a POD designation, may not be altered by will.
(Acts 1997, No. 97-644, p. 1177, §1.)
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