NC H515

Payable on death accounts created before October 1, 2011 are now governed by G.S. 54-109.57A provisions, with all references to the prior statute deemed references to the new section.

Joint account holders may request removal from an account without terminating it, and remaining tenants continue the account; removed tenants remain liable for debts incurred while named.

Credit unions may issue accounts to minors individually or jointly, and parents or guardians may access and withdraw funds from a deceased minor's account (excluding joint or payable on death accounts).

Adults may open custodial accounts for minors using the minor's taxpayer identification number, with beneficial ownership vesting in the minor and control vesting in the named custodian until the minor reaches majority age.

Credit unions may invest in corporate bonds rated A+ or higher by nationally recognized rating services, subject to credit exposure limits set as a percentage of assets.