SECTIONS 6950-6951 - California Statutes

FINANCIAL CODE

SECTION 6950-6951

6950. (a) When a savings account is held in any association or
federal association by a person who dies while domiciled in a sister
state or foreign nation, the account, together with additions and
interest, or any part of it, shall be exempt from any taxation
otherwise imposed by this state.
(b) When a savings account is held in any association or federal
association by a person who dies while domiciled in a sister state,
the account, together with additions and interest, or any part of it,
shall be paid to the sister state personal representative or other
claimant under the Probate Code, provided the personal representative
or other claimant has furnished the association or federal
association with all of the documentation required under applicable
provisions of the Probate Code and evidence of ownership of the
account, if any, issued under Section 6652.
(c) Upon payment or delivery to the personal representative or
other claimant after receipt of the documents specified in
subdivision (b), the association or federal association is released
and discharged to the same extent as if the payment or delivery had
been made to a legally qualified local personal representative, and
is not required to account for the application or disposition of the
property.

6951. No action at law or in equity shall be maintained against an
association or federal association for payment made in accordance
with this article.