Texas Statutes (Last Updated: January 4, 2014) |
ESTATES CODE |
Title 2. ESTATES OF DECEDENTS; DURABLE POWERS OF ATTORNEY |
Subtitle C. PASSAGE OF TITLE AND DISTRIBUTION OF DECEDENTS' PROPERTY IN GENERAL |
Chapter 113. MULTIPLE-PARTY ACCOUNTS |
Subchapter E. PROTECTION OF FINANCIAL INSTITUTIONS |
Sec. 113.203. PAYMENT OF JOINT ACCOUNT
Latest version.
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(a) Subject to Subsection (b), amounts in a joint account may be paid, on request, to any party without regard to whether any other party is incapacitated or deceased at the time the payment is demanded.
(b) Payment may not be made to the personal representative or heir of a deceased party unless:
(1) proofs of death are presented to the financial institution showing that the deceased party was the last surviving party; or
(2) there is no right of survivorship under Sections 113.151, 113.152, 113.153, and 113.155.
Added by Acts 2009, 81st Leg., R.S., Ch. 680 , Sec. 1, eff. January 1, 2014.