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Minnesota Legislature

Office of the Revisor of Statutes

524.6-202 OWNERSHIP AS BETWEEN PARTIES, AND OTHERS; PROTECTION OF
FINANCIAL INSTITUTIONS.
The provisions of sections 524.6-203 to 524.6-205 concerning beneficial ownership as
between parties, or as between parties and P.O.D. payees or beneficiaries of multiple-party
accounts, are relevant only to controversies between these persons and their creditors and other
successors, and have no bearing on the power of withdrawal of these persons as determined by the
terms of account contracts. The provisions of sections 524.6-208 to 524.6-212 govern the liability
of financial institutions who make payments pursuant thereto, and their setoff rights.
History: 1973 c 619 s 3; 1994 c 472 s 63