TO CLARIFY THAT TRUSTS MAY BE BENEFICIARIES OF PAYABLE ON DEATH ACCOUNTS.
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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