§ 54C-173. Transfer of deposit accounts. - North Carolina Statutes

§ 54C‑173.  Transfer ofdeposit accounts.

The owner of a deposit accountmay transfer the owner's rights therein absolutely or conditionally to anyother person eligible to hold the same, but the transfer may be made on thebooks of the savings bank only upon presentation of evidence of transfersatisfactory to the savings bank, and accompanied by the proper application fortransfer by the transferor and transferee, who shall accept the account subjectto the terms and conditions of the account contract, the bylaws of the savingsbank, the certificate of incorporation of the savings bank, and all rules ofthe Commissioner of Banks. Notwithstanding the effectiveness of a transferbetween the parties, the savings bank may treat the holder of record of a depositaccount as the owner of the deposit account for all purposes, including paymentand voting, in the case of a mutual savings bank, until the savings bankrecords the transfer and assignment. (1991, c. 680, s. 1; 2001‑193, s. 16.)