GroundRules
Ala. Code § 5-24-13: Alteration of Rights.
Where this section sits in the code
- Title 5 Banks and Financial Institutions.
- Chapter 24 Uniform Multiple-Person Accounts Act.
- Article 2 Ownership as Between Parties and Others.
(a) Rights at death under Section 5-24-12 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 5-24-12, or a POD designation, may not be altered by will.
Collected 2026-09-03T14:01:52Z. Source file · JSON