Indiana Code 32-17-11-13. “Sums on deposit” defined
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Terms Used In Indiana Code 32-17-11-13
- account: means a contract of deposit of funds between a depositor and a financial institution. See Indiana Code 32-17-11-1
- party: means a person who, by the terms of the account, has a present right, subject to request, to payment from a multiple party account. See Indiana Code 32-17-11-7
Sec. 13. As used in this chapter, “sums on deposit” means the balance payable on a multiple party account, including interest, dividends, and any deposit life insurance proceeds added to the account by reason of the death of a party.
[Pre-2002 Recodification Citation: 32-4-1.5-1(13).]
As added by P.L.2-2002, SEC.2.