1. Shares may be issued in joint tenancy with the right of survivorship with any persons, minor or adult, designated by the credit union member, whether or not the names are stated in the conjunctive or the disjunctive or otherwise. But no person so designated as joint tenant shall be permitted to vote, obtain loans or hold office unless such person is within the field of membership and is a qualified member. The records of the credit union describing the issuance, opening, or maintenance of shares in joint tenancy with the right of survivorship in the absence of fraud or undue influence shall be conclusive evidence of the intention of all the joint tenants to vest title to the account any additions thereto in the surviving joint tenants. Any shares so issued and additions thereto of whatever nature shall be the property of such persons as joint tenants and payable by the credit union on the death of any one or more of the joint tenants. If there are two or more surviving joint tenants, such joint tenants shall own the shares as joint tenants with the right of survivorship. The payment and the receipt or acquittance of the shares and additions thereto as described herein to said surviving joint tenants shall be a valid and sufficient release and discharge to the credit union for all amounts so paid.

2. The adjudication of disability or incapacity of any one or more of the joint tenants shall not operate to sever or terminate the joint tenancy ownership of all or any part of the account and the account may be withdrawn or pledged by any one or more of the joint owners in the same manner as though the adjudication of disability or incapacity had not been made, except that any withdrawal or pledge on behalf of the disabled joint owner shall be by such person’s conservator.

3. Shares held in the name of two persons who are husband and wife or the survivor thereof shall be considered a joint tenancy and not a tenancy by the entirety unless specified otherwise.

4. A payment of any or all shares or additions thereto as provided in subsection 1 of this section^* shall release and discharge the credit union with respect to the moneys so paid prior to the receipt by the credit union of notice in writing signed by any one of the joint tenants not to pay the shares in accordance with the terms thereof. After receipt of such notice, a credit union may refuse without liability to honor any check, other order to pay, withdrawal receipt, or order to pay out any dividends or interest thereon pending determination of the rights of the parties. No credit union paying any joint tenant in accordance with the provisions of this section shall thereby be liable for any estate or succession taxes which may be due this state. Accounts opened under the Missouri transfers^** to minors law, sections 404.005 to 404.094, shall be governed by that law.