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2020 Maine Revised Statutes
TITLE 18-C: PROBATE CODE
Article 6: NONPROBATE TRANSFERS ON DEATH
Part 2: MULTIPLE-PARTY ACCOUNTS
Subpart 3: PROTECTION OF FINANCIAL INSTITUTIONS
18-C §6-221. Authority of financial institution
Universal Citation: 18-C ME Rev Stat § 6-221 (2020)
§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 as 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. [PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).]
SECTION HISTORY
PL 2017, c. 402, Pt. A, §2 (NEW). PL 2017, c. 402, Pt. F, §1 (AFF). PL 2019, c. 417, Pt. B, §14 (AFF).
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