Current as of January 01, 2020 | Updated by FindLaw Staff
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A financial institution, on request, may pay sums on deposit in an account with a POD designation to:
(1) One or more of the parties, whether or not another party has a disability, is incapacitated, or deceased when the payment is requested and whether or not a party survives another party;
(2) The beneficiary or beneficiaries, if proof of death is presented to the financial institution showing that the beneficiary or beneficiaries survived all persons named as parties; or
(3) The personal representative, if any, or, if there is none, the heirs or devisees of a deceased party, if proof of death is presented to the financial institution showing that the deceased party was the survivor of all other persons named on the account, either as a party or beneficiary.
Cite this article: FindLaw.com - District of Columbia Code Division III. Decedents' Estates and Fiduciary Relations. § 19-602.23. Payment on POD designation. - last updated January 01, 2020 | https://codes.findlaw.com/dc/division-iii-decedents-estates-and-fiduciary-relations/dc-code-sect-19-602-23.html
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