Section 45-6-221 - Authority of financial institution. - New-mexico Statutes

State Codes and Statutes

Statutes > New-mexico > Chapter-45 > Article-6 > Section-45-6-221

45-6-221. Authority of financial institution.

A financial institution may enter into a contract of deposit for a multiple-party account to the same extent it may enter into a contract of deposit for a single-party account, and may provide for a POD designation and an agency designation in either a single-party account or a multiple-party account. A financial institution need not inquire as to the source of a deposit to an account or as to the proposed application of a payment from an account.

State Codes and Statutes

Statutes > New-mexico > Chapter-45 > Article-6 > Section-45-6-221

45-6-221. Authority of financial institution.

A financial institution may enter into a contract of deposit for a multiple-party account to the same extent it may enter into a contract of deposit for a single-party account, and may provide for a POD designation and an agency designation in either a single-party account or a multiple-party account. A financial institution need not inquire as to the source of a deposit to an account or as to the proposed application of a payment from an account.

State Codes and Statutes

Back To Homepage

State Codes and Statutes

Statutes > New-mexico > Chapter-45 > Article-6 > Section-45-6-221

45-6-221. Authority of financial institution.

A financial institution may enter into a contract of deposit for a multiple-party account to the same extent it may enter into a contract of deposit for a single-party account, and may provide for a POD designation and an agency designation in either a single-party account or a multiple-party account. A financial institution need not inquire as to the source of a deposit to an account or as to the proposed application of a payment from an account.