Texas Estates Code

§ 113.204 — PAYMENT OF P.O.D. ACCOUNT

ES § 113.204Title 2. ESTATES OF DECEDENTS; DURABLE POWERS OF ATTORNEY · Part C. PASSAGE OF TITLE AND DISTRIBUTION OF DECEDENTS' PROPERTY IN GENERAL · Ch. 113. MULTIPLE-PARTY ACCOUNTS · Art. E. PROTECTION OF FINANCIAL INSTITUTIONS

Statute text

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(a)A P.O.D. account may be paid, on request, to any original payee of the account.

(b)Payment may be made, on request, to the P.O.D. payee or to the personal representative or heirs of a deceased P.O.D. payee on the presentation to the financial institution of proof of death showing that the P.O.D. payee survived each person named as an original payee.

(c)Payment may be made to the personal representative or heirs of a deceased original payee if proof of death is presented to the financial institution showing that the deceased original payee was the survivor of each other person named on the account as an original payee or a P.O.D. payee.

Legislative history

Added by Acts 2009, 81st Leg., R.S., Ch. 680, Sec. 1, eff. January 1, 2014.