Repealed by Ga. L. 2016, p. 390, § 7-16/HB 811, effective July 1, 2016.
Editor's notes.- This Code section was based on Code 1933, § 41A-3529, enacted by Ga. L. 1974, p. 705, § 1; Ga. L. 1980, p. 972, § 9; Ga. L. 1993, p. 917, § 8.
Ga. L. 2017, p. 774, § 7(10)/HB 323, part of an Act to revise, modernize, and correct the Code, repealed the reservation of this Code section.
ARTICLE 8 MULTIPLE-PARTY ACCOUNTS
Law reviews.
- For article discussing joint tenancy arrangements as a means of avoiding probate, see 6 Ga. L. Rev. 74 (1971). For article discussing Georgia commercial law in 1976 to 1977, see 29 Mercer L. Rev. 41 (1977). For article discussing developments in the law of wills, trusts and administration of estates in Georgia in 1976 to 1977, see 29 Mercer L. Rev. 291 (1977). For article, "Joint Bank Accounts: A Different Form of Joint Tenancy," see 17 Ga. St. B.J. 184 (1981). For article, "Transfer-on-Death Securities Registration: A New Title Form," see 21 Ga. L. Rev. 789 (1987).
JUDICIAL DECISIONS
Deposits made in joint form for convenience only.
- When a deposit is made in joint form for convenience only and not for the purpose of making a gift to the other party, the party making the deposit may recover. The presumption of joint ownership is a rebuttable one and when the joint account was created as a matter of convenience with no intention of conferring a beneficial interest upon the codepositor the presumption is rebutted. Davidson v. Walsh, 158 Ga. App. 845, 282 S.E.2d 366 (1981).
RESEARCH REFERENCES
ALR.
- Power of one party to joint bank account to terminate the interests of the other, 161 A.L.R. 71.
Effect of incompetency of joint depositor upon status and ownership of bank account, 62 A.L.R.2d 1091.
Liability of bank to joint depositor of savings account for amounts withdrawn by other joint depositor without presentation of passbook, 35 A.L.R.4th 1094.
Liability of bank to joint depositor for removal of name from account at request of other joint depositor, 39 A.L.R.4th 1112.
Nondrawing cosigner's liability for joint checking account overdraft, 48 A.L.R.4th 1136.
Payable-on-death savings account or certificate of deposit as will, 50 A.L.R.4th 272.