Idaho Code 15-6-105 – Effect of Written Notice to Financial Institution
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Terms Used In Idaho Code 15-6-105
- Account: means a contract of deposit of funds between a depositor and a financial institution, and includes a checking account, savings account, certificate of deposit, share account and other like arrangement;
Idaho Code 15-6-101Financial institution: means any organization authorized to do business under state or federal laws relating to financial institutions, including, without limitation, banks and trust companies, savings banks, building and loan associations, savings and loan companies or associations, and credit unions;
Idaho Code 15-6-101Party: means a person who, by the terms of the account, has a present right, subject to request, to payment from a multiple-party account. See Idaho Code 15-6-101 Request: means a proper request for withdrawal, or a check or order for payment, which complies with all conditions of the account, including special requirements concerning necessary signatures and regulations of the financial institutions; but if the financial institution conditions withdrawal or payment on advance notice, for purposes of this part the request for withdrawal or payment is treated as immediately effective and a notice of intent to withdraw is treated as a request for withdrawal;
Idaho Code 15-6-101
The provisions of section 15-6-104 of this Part as to rights of survivorship are determined by the form of the account at the death of a party. This form may be altered by written order given by a party to the financial institution to change the form of the account or to stop or vary payment under the terms of the account. The order or request must be signed by a party, received by the financial institution during the party’s lifetime, and not countermanded by other written order of the same party during his lifetime.