1.    An account may be for a single party or multiple parties. A multiple-party account may be with or without a right of survivorship between the parties. Subject to subsection 3 of section 30.1-31-09, either a single-party account or a multiple-party account may have a P.O.D. designation, an agency designation, or both.

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Terms Used In North Dakota Code 30.1-31-04

  • Right of survivorship: The ownership rights that result in the acquisition of title to property by reason of having survived other co-owners.

2.    An account established before, on, or after the effective date of sections 30.1-31-02 through 30.1-31-20, whether in the form prescribed in section 30.1-31-05 or in any other form, is either a single-party account or a multiple-party account, with or without right of survivorship, and with or without a P.O.D. designation or an agency designation, within the meaning of sections 30.1-31-02 through 30.1-31-20, and is governed by sections 30.1-31-02 through 30.1-31-20.

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