(a) Rights at death of a party under section 131i are determined by the terms of the account at the death of the party. A party may alter the terms of the account by a notice signed by the party and given to the financial institution to change the terms of the account or to stop or vary payment under the terms of the account. To be effective the notice must be received by the financial institution during the party’s lifetime.
(b) A right of survivorship arising from the express terms of the account, section 131i or a POD designation may not be altered by will.