§ 1-401. Nontestamentary transfers
West's Annotated Code of MarylandEstates and TrustsEffective: October 1, 2022
Effective: October 1, 2022
MD Code, Estates and Trusts, § 1-401
§ 1-401. Nontestamentary transfers
(a) A provision in an account agreement, as defined in § 1-204(b)(2) of the Financial Institutions Article, for a transfer on death is nontestamentary and shall be effective according to the provisions of § 1-204 of the Financial Institutions Article.
(b) Transfers pursuant to § 1-204 of the Financial Institutions Article are effective in the form and manner prescribed by that section and are not to be considered testamentary.
Transfers on death pursuant to operating agreement of limited liability company or partnership agreement of a general or limited partnership
(c) Transfers on death pursuant to an operating agreement of a limited liability company or a partnership agreement of a general or limited partnership are effective according to the operating agreement or partnership agreement and are not to be considered testamentary.
Credits
Added by Acts 1992, c. 578, § 1, eff. Oct. 1, 1992. Amended by Acts 2019, c. 197, § 1, eff. Oct. 1, 2019; Acts 2022, c. 294, § 1, eff. Oct. 1, 2022; Acts 2022, c. 295, § 1, eff. Oct. 1, 2022.
MD Code, Estates and Trusts, § 1-401, MD EST & TRST § 1-401
Current through legislation effective through April 9, 2023, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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