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§ 1-401. Nontestamentary transfers

West's Annotated Code of MarylandEstates and TrustsEffective: October 1, 2022

West's Annotated Code of Maryland
Estates and Trusts (Refs & Annos)
Title 1. Estates of Decedents--General Provisions (Refs & Annos)
Subtitle 4. Multiple-Party Accounts (Refs & Annos)
Effective: October 1, 2022
MD Code, Estates and Trusts, § 1-401
§ 1-401. Nontestamentary transfers
Transfer on death of deposit or share account at depository institution
(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.
Transfers effective in form and manner prescribed by § 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 with all legislation from the 2023 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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