Skip to main content Skip to office menu Skip to footer
Capital IconMinnesota Legislature

Office of the Revisor of Statutes

Without qualifying any other statutory right to setoff or lien and subject to any contractual
provision, if a party to a multiple-party account is indebted to a financial institution, the financial
institution has a right to setoff against the account in which the party has or had immediately
before death a present right of withdrawal. The amount of the account subject to setoff is that
proportion to which the debtor is, or was immediately before death, beneficially entitled, and in
the absence of proof of net contributions, to an equal share with all parties having present rights
of withdrawal.
History: 1973 c 619 s 14; 1986 c 444; 1994 c 472 s 63

Official Publication of the State of Minnesota
Revisor of Statutes