{"data":{"id":"us-ca/prob-5407","jurisdiction":"us-ca","citation":"PROB § 5407","heading":"","body":"If a financial institution is required or permitted to make payment pursuant to this chapter to a person who is a minor:\n(a) If the minor is a party to a multiple-party account, payment may be made to the minor or to the minor’s order, and payment so made is a valid release and discharge of the financial institution, but this subdivision does not apply if the account is to be paid to the minor because the minor was designated as a P.O. D. payee or as a beneficiary of a Totten trust account.\n(b) In cases where subdivision (a) does not apply, payment shall be made pursuant to the California Uniform Transfers to Minors Act (Part 9 (commencing with Section 3900) of Division 4), or as provided in Chapter 2 (commencing with Section 3400) of Part 8 of Division 4.","path":["Probate Code - PROB","DIVISION 5. NONPROBATE TRANSFERS [5000. - 5705.]","PART 2. MULTIPLE-PARTY ACCOUNTS [5100. - 5407.]","CHAPTER 4. Protection of Financial Institution [5401. - 5407.]"],"source_url":"https://downloads.leginfo.legislature.ca.gov/pubinfo_2025.zip","current_through":"2026-09-13","vintage":"","retrieved_at":"2026-09-14T05:56:33Z","sha256":"f7f08ceb191de3c6fe65519ce72e53b6d89186f8c7b8c01cb57be5f2e69ecbc6","source_id":"us-ca","stale":false,"prev":"us-ca/prob-5406","next":"us-ca/prob-5500"},"notice":"GroundRules: Original legal text. Not legal advice."}