(a) Rights at death under section 19-602.12 are determined by the type of account at the death of a party. The type of account may be altered by written notice given by a party to the financial institution to change the type of account or to stop or vary payment under the terms of the account. The notice must be signed by a party and received by the financial institution during the party’s lifetime.
(b) A right of survivorship arising from the express terms of the account, section 19-602.12, or a POD designation, may not be altered by will.
(Apr. 27, 2001, D.C. Law 13-292, § 302(b), 48 DCR 2087.)
Uniform Law: This section is based upon § 213 of the Uniform Nonprobate Transfers on Death Act (1991 Act).
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