Colorado § 15-15-222 - Payment on multiple-party account.
Full text of Colorado Colorado Revised Statutes § 15-15-222 — Payment on multiple-party account., with citation guidance and answers to common questions.
§ 15-15-222. Payment on multiple-party account.
A financial institution, on request, may pay sums on deposit in a multiple-party account to:
(1) One or more of the parties, whether or not another party is disabled, incapacitated, or deceased when payment is requested and whether or not the party making the request survives another party; or
(2) The personal representative, if any, or, if there is none, the heirs or devisees of a deceased party if proof of death is presented to the financial institution showing that the deceased party was the survivor of all other persons named on the account either as a party or beneficiary, unless the account is without right of survivorship under section 15-15-212.
Source: L. 90: Entire article R&RE, p. 915, § 1, effective July 1.
Editor's note: This section is similar to former § 15-15-109 as it existed prior to 1990.
ANNOTATION
Section does not address the duties of a financial institution that obtains a pledge of account funds for security for the personal debt of a person named on the account who it knows has access only as a fiduciary and not as a beneficial owner of account assets. When a financial institution has actual knowledge that an account holder is a fiduciary and not a beneficial owner of account assets, neither this section nor § 15-15-221 relieves the financial institution of duties imposed by the Uniform Probate Code, the Uniform Commercial Code, or the Uniform Fiduciary Law. Bryant v. Cmty. Choice Credit Union, 160 P.3d 266 (Colo. App. 2007).
Source: official Colorado text · Last verified 2026-08-27
Frequently Asked Questions About Colorado § 15-15-222
What does Colorado Revised Statutes § 15-15-222 cover?
Section 15-15-222 ("Payment on multiple-party account.") is part of the Colorado Revised Statutes, the codified statutory law of Colorado. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Colorado § 15-15-222?
A common citation format is "Colorado Revised Statutes § 15-15-222" (Colorado). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Colorado law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Colorado official source linked on this page or consult a licensed Colorado attorney.
How does Colorado § 15-15-222 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Colorado can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Colorado.