Changing terms of account
Applied in 2 court decisions — leading case 177 Cal. App. 4th 236 - Stevens v. TRI COUNTIES BANK (2009)
Most recently applied in Estate of Ella Mae Haire v. Shelby J. Webster (March 2019)
Code 1933, § 41A-3805, enacted by Ga
The provisions of Code Section 7-1-813 as to rights of survivorship are determined by the form of the account at the death of a party. Once established, the terms of a multiple-party account can be changed only:
(1) By closing the account and reopening it under different terms;
or
(2) By presentation to the financial institution of a modification agreement in a form satisfactory to the financial institution and signed by all parties with a present right of withdrawal.
Current official text: Official Code of Georgia Annotated (LexisNexis). Digitized from the Internet Archive scan of the OCGA. Reproduced from public-domain Georgia statutes; confirm against the official source for the current text. Not legal advice.