Bill Summary for S 568 (2011-2012)
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Bill Information:
| View NCGA Bill Details | 2011-2012 Session |
TO CLARIFY THAT TRUSTS MAY BE BENEFICIARIES OF PAYABLE ON DEATH ACCOUNTS.Intro. by Brunstetter.
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Bill summary
Amends the following statutes to provide as title indicates, by adding that the term “person” includes an individual or corporate trustee of a trust when referring to beneficiaries: GS 53-146.2 (banks); GS 54-109.57 (credit unions); GS 54B-130 (savings and loan associations); and GS 54C-166 (savings banks). Applies to all payable on demand accounts opened before or after the date the act becomes law.
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