Missouri Revised Statutes Title XXIV. Business and Financial Institutions § 369.186. Accounts payable to second named person upon death of first named person, how handled

1. An association may contract for an account in the following form: “John Doe, pay on death to Henry Roe.” Such account shall, during the lifetime of the person first named in the account, be the property of and under the sole control of the person first named; and the first named person shall be entitled to cancel, change, give away, or otherwise deal with the account as if no other person were  1 named in the account.

2. At the death of the first named person, the account shall become the property of the person named as the “pay on death” person. The association is authorized to require proof of death and surrender of the evidence of account prior to withdrawal after the death of the first named person.

3. The association may make such other contractual terms as the parties may agree to with respect to the account.

4. Any payment made by an association on an account as described in this section shall be entitled to full credit upon such payment without necessity of determining whether any other person shall have an interest in the account, unless the association shall have been served with process restricting payment on the account in accordance with the terms of such process.