New Jersey § 17:12b-90

§ 17:12b-90.

When a membership account is opened by a person or persons payable on death to a beneficiary

or beneficiaries in the manner provided in the “Multiple-party Deposit Account Act,” 1 and the account is terminated as provided in section 5b(2) of said act, 2 and if the named beneficiary or all of the beneficiaries so named survive the death

of the person or persons opening such an account and are under 16 years of age at

such time, the association shall pay the moneys to the credit of the account, less

all proper set-offs and charges. 3 a. When or after the named beneficiary becomes 16 years of age, to the named beneficiary

or upon his order, or b. When more than one beneficiary is named, the association shall pay to the beneficiary

so named his proportionate interest in such account as he becomes 16 years of age,

or c. To the legal guardian of the named beneficiary, wherever appointed, or where more

than one beneficiary is named, the association shall pay such beneficiary's proportionate

interest in such account to his legal guardian wherever and whenever appointed, or d. If a certificate of appointment of a legal guardian is not filed with the association,

to a person authorized to receive such moneys, or proportionate interest thereof,

pursuant to sections 3A:6-31 and 3A:6-32 of the New Jersey Statutes . 4 1

N.J.S.A. § 17:16I-1 et seq. 2

N.J.S.A. § 17:16I-5. 3

So in enrolled bill. 4

Both repealed; see, now, N.J.S.A. §§ 3B:12-6 to 3B:12-11.