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Chapter 524
Section 524.6-203
Topics
Recent History
- 2013 524.6-203 Amended 2013 c 36 s 4
This is an historical version of this statute chapter. Also view the most recent published version.
524.6-203 OWNERSHIP DURING LIFETIME.
(a) A joint account belongs, during the lifetime of all parties, to the parties in proportion
to the net contributions by each to the sums on deposit, unless there is clear and convincing
evidence of a different intent.
(b) A P.O.D. account belongs to the original purchasing or depositing party during the party's
lifetime and not to the P.O.D. payee or payees; if two or more parties are named as original
parties, during their lifetimes, rights as between them are governed by clause (a).
History: 1973 c 619 s 4; 1985 c 292 s 12; 1994 c 472 s 63
(a) A joint account belongs, during the lifetime of all parties, to the parties in proportion
to the net contributions by each to the sums on deposit, unless there is clear and convincing
evidence of a different intent.
(b) A P.O.D. account belongs to the original purchasing or depositing party during the party's
lifetime and not to the P.O.D. payee or payees; if two or more parties are named as original
parties, during their lifetimes, rights as between them are governed by clause (a).
History: 1973 c 619 s 4; 1985 c 292 s 12; 1994 c 472 s 63
Official Publication of the State of Minnesota
Revisor of Statutes