(A) During the lifetime of all parties, an account belongs to the parties in proportion to the net contribution of each to the sums on deposit, unless there is clear and convincing evidence of a different intent.
(B) A beneficiary in an account having a POD designation has no right to sums on deposit during the lifetime of any party.
(C) An agent in an account with an agency designation has no beneficial right to sums on deposit.
HISTORY: 1986 Act No. 539, Section 1; 1987 Act No. 171, Section 69; 1976 Code Section 62-6-103; 2013 Act No. 100, Section 2, eff January 1, 2014.
Editor's Note
Prior Laws: Former Section 62-6-201 was titled Provisions for payment or transfer at death, and had the following history: 1986 Act No. 539, Section 1.
Effect of Amendment
The 2013 amendment rewrote the section.