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2017 District of Columbia Code
Title 19 - Descent, Distribution, and Trusts. [Enacted title]
Chapter 6 - Nonprobate Transfers on Death; Uniform Law.
Subchapter II - Multiple-Person Accounts.
Part C - Protection Of Financial Institutions.
§ 19–602.27. Set-off.
Universal Citation: DC Code § 19–602.27 (2017)
Without qualifying any other statutory right to set-off or lien and subject to any contractual provision, if a party is indebted to a financial institution, the financial institution has a right to set-off against the account. The amount of the account subject to set-off is the proportion to which the party is, or immediately before death was, beneficially entitled under section 19-602.11 or, in the absence of proof of that proportion, an equal share with all parties.
(Apr. 27, 2001, D.C. Law 13-292, § 302(b), 48 DCR 2087.)
Editor's NotesUniform Law: This section is based upon § 227 of the Uniform Nonprobate Transfers on Death Act (1991 Act).
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