Definitions
Known as the California Multiple-Party Accounts Law
The act spans §§ 5100–5407 (38 sections).
Enacted by Stats. 1990, Ch. 79.
“Sums on deposit” means both of the following:
(a) The balance payable on an account, including interest and dividends earned, whether or not included in the current balance.
(b) Any life insurance proceeds added to the account by reason of the death of a party.
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.