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2011 Ohio Revised Code
Title [21] XXI COURTS - PROBATE - JUVENILE
Chapter 2131: MISCELLANEOUS
2131.11 [Effective Until1/13/2012] Release and discharge of payable on death account.


OH Rev Code § 2131.11 What's This?

When an investment share certificate, share account, deposit, or stock deposit is made, in any bank, building and loan or savings and loan association, credit union, or society for savings, payable to the owner during his lifetime, and to another on his death, such investment share certificate, share account, deposit, or stock deposit or any part thereof or any interest or dividend thereon, may be paid to the owner during his lifetime, and on his death such investment share certificate, share account, deposit, or stock deposit or any part thereof or any interest or dividend thereon, may be paid to the designated beneficiary, and the receipt of acquittance of the person paid is a sufficient release and discharge of the bank, building and loan or savings and loan association, credit union, or society for savings for any payment so made.

Effective Date: 07-25-1961

This section is set out twice. See also § 2131.11, as amended by 129th General Assembly File No. 52, SB 124, § 1, eff. 1/13/2012.

2131.11 [Effective1/13/2012] Release and discharge of payable on death account

If an investment share certificate, share account, deposit, or stock deposit is made in any bank, building and loan or savings and loan association, credit union, or society for savings, payable to the owner during the owner’s lifetime, and to another on the owner’s death, the investment share certificate, share account, deposit, or stock deposit , any part of that certificate, account, or deposit, or any interest or dividend on the certificate, account, or deposit, may be paid to the owner during the owner’s lifetime, and on the owner’s death the investment share certificate, share account, deposit, or stock deposit , any part of that certificate, account, or deposit, or any interest or dividend on the certificate, account, or deposit, may be paid to the designated beneficiary, and the receipt of acquittance of the person paid is a sufficient release and discharge of the bank, building and loan or savings and loan association, credit union, or society for savings for any payment so made.

Amended by 129th General Assembly File No. 52, SB 124, § 1, eff. 1/13/2012.

Effective Date: 07-25-1961

This section is set out twice. See also § 2131.11, effective until 1/13/2012.

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