Texas Estates Code
§ 123.151 — DESIGNATION OF FORMER SPOUSE OR RELATIVE OF FORMER SPOUSE ON CERTAIN MULTIPLE-PARTY ACCOUNTS
ES § 123.151Title 2. ESTATES OF DECEDENTS; DURABLE POWERS OF ATTORNEY · Part C. PASSAGE OF TITLE AND DISTRIBUTION OF DECEDENTS' PROPERTY IN GENERAL · Ch. 123. DISSOLUTION OF MARRIAGE · Art. D. EFFECT OF DISSOLUTION OF MARRIAGE ON CERTAIN MULTIPLE-PARTY ACCOUNTS
Statute text
View on source(a)In this section:
(1)"Beneficiary," "multiple-party account," "party," "P.O.D. account," and "P.O.D. payee" have the meanings assigned by Chapter 113.
(2)"Public retirement system" has the meaning assigned by Section 802.001, Government Code.
(3)"Relative" has the meaning assigned by Section 123.051.
(4)"Survivorship agreement" means an agreement described by Section 113.151.
(b)If a decedent established a P.O.D. account or other multiple-party account and the decedent's marriage was later dissolved by divorce, annulment, or a declaration that the marriage is void, any payable on request after death designation provision or provision of a survivorship agreement with respect to that account in favor of the decedent's former spouse or a relative of the former spouse who is not a relative of the decedent is not effective as to that spouse or relative unless:
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Legislative history
Acts 2017, 85th Leg., R.S., Ch. 844 (H.B. 2271), Sec. 7, eff. September 1, 2017.