S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   9230
 
                           I N  A S S E M B L Y
 
                             February 20, 2024
                                ___________
 
 Introduced  by M. of A. WALLACE -- read once and referred to the Commit-
   tee on Banks
 
 AN ACT to amend the banking law, in relation to  establishing  multiple-
   person accounts; and to repeal certain provisions of such law relating
   thereto
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:

   Section 1. Section 675 of the banking law is amended by adding  a  new
 subdivision (d) to read as follows:
   (D)  THIS SECTION SHALL ONLY APPLY TO ACCOUNTS ESTABLISHED FOR A BUSI-
 NESS PURPOSE.
   § 2. Section 678 of the banking law is REPEALED and a new section  678
 is added to read as follows:
   §  678.  MULTIPLE-PERSON  ACCOUNTS;  PERSONAL  ACCOUNT  OWNERSHIP  AND
 PAYMENT.  1. DEFINITIONS. NOTWITHSTANDING ANY OTHER PROVISIONS  OF  LAW,
 FOR THE PURPOSES OF THIS SECTION:
   (A)  "ACCOUNT" MEANS A CONTRACT OF DEPOSIT BETWEEN ONE OR MORE ACCOUNT
 OWNERS AND A BANK.
   (B) "ACCOUNT OWNER" MEANS A PERSON WHO, BY THE TERMS  OF  AN  ACCOUNT,
 HAS  A  PRESENT  RIGHT,  SUBJECT TO REQUEST, TO PAYMENT FROM THE ACCOUNT
 OTHER THAN A BENEFICIARY OR AUTHORIZED SIGNER.
   (C)  "ACCOUNT  SELECTION  FORMS"  MEANS,  TOGETHER,  THE  SINGLE-OWNER
 ACCOUNT SELECTION FORM AND THE MULTIPLE-OWNER ACCOUNT SELECTION FORM.
   (D)  "AUTHORIZED  SIGNER"  MEANS  A  PERSON AUTHORIZED TO MAKE ACCOUNT
 TRANSACTIONS FOR THE CONVENIENCE OF AN ACCOUNT OWNER BUT  WHO  DOES  NOT
 OWN THE ACCOUNT AND HAS NO BENEFICIAL RIGHT TO SUMS ON DEPOSIT.
   (E)  "AUTHORIZED  SIGNER  DESIGNATION"  MEANS  THE  DESIGNATION  OF AN
 AUTHORIZED SIGNER IN AN ACCOUNT  PAYABLE  ON  REQUEST  TO  ONE  OR  MORE
 ACCOUNT OWNERS.
   (F)  "BENEFICIARY" MEANS A PERSON NAMED AS ONE TO WHOM SUMS ON DEPOSIT
 IN AN ACCOUNT ARE PAYABLE ON REQUEST AFTER  THE  DEATH  OF  ALL  ACCOUNT
 OWNERS.
   (G)  "CONTRACT  OF  DEPOSIT" MEANS A WRITTEN DOCUMENT ESTABLISHING THE
 TERMS OF AN ACCOUNT BETWEEN A BANK AND ONE OR MORE ACCOUNT OWNERS.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
              

                                                            LBD14475-02-4
 A. 9230                             2
 
   (H) "DEVISEE" MEANS ANY PERSON DESIGNATED  IN  A  WILL  TO  RECEIVE  A
 TESTAMENTARY DISPOSITION OF REAL OR PERSONAL PROPERTY.
   (I)  "HEIRS" MEANS THOSE PERSONS, INCLUDING SURVIVING SPOUSES, WHO ARE
 ENTITLED UNDER THE STATUTES OF INTESTATE SUCCESSION TO THE PROPERTY OF A
 DECEDENT.
   (J) "MULTIPLE-OWNER ACCOUNT" MEANS AN ACCOUNT PAYABLE  ON  REQUEST  TO
 TWO OR MORE ACCOUNT OWNERS.
   (K)  "MULTIPLE-OWNER  ACCOUNT  SELECTION  FORM"  MEANS  THE  FOLLOWING
 CONTRACT OF DEPOSIT ESTABLISHING THE TERMS OF A  MULTIPLE-OWNER  ACCOUNT
 IN THE FOLLOWING FORM, OR A SUBSTANTIALLY EQUIVALENT FORM IN THE ACCOUNT
 OWNERS'  PRIMARY  LANGUAGE,  IN  FOURTEEN-POINT  TYPE,  PUBLISHED BY THE
 DEPARTMENT, WHETHER IN PHYSICAL OR ELECTRONIC WRITTEN FORM:
                   MULTIPLE-OWNER ACCOUNT SELECTION FORM
 
 THIS IS AN IMPORTANT LEGAL DOCUMENT. THE SELECTIONS BELOW WILL DETERMINE
 WHO OWNS THE FUNDS IN THIS ACCOUNT AND HOW SUCH FUNDS WILL PASS UPON THE
 DEATH OF AN ACCOUNT OWNER. YOU MAY WISH TO CONSULT AN ATTORNEY.

 MULTIPLE-OWNER ACCOUNT: THIS SECTION MUST BE COMPLETED UPON CREATING  OR
 CHANGING THE TERMS OF AN ACCOUNT THAT IS OWNED BY MORE THAN ONE PERSON.
 
   I.  ACCOUNT OWNERS. LIST THE NAMES OF THE PERSONS WHO OWN THE FUNDS IN
 THE ACCOUNT. ACCOUNT OWNERS OWN A SHARE OF THE FUNDS EQUAL TO THE SUM OF
 THEIR DEPOSITS MINUS THEIR WITHDRAWALS. THE BANK IS NOT RESPONSIBLE  FOR
 DETERMINING  EACH OWNER'S SHARE AND MAY PAY FUNDS TO ANYONE LISTED AS AN
 ACCOUNT OWNER.
 
     1.
 
     2.
 
     3.
 
   II. AUTHORIZED SIGNER(S). ANY ACCOUNT OWNER MAY (BUT NEED NOT)  DESIG-
 NATE  ONE  OR MORE PERSONS AS AN "AUTHORIZED SIGNER." AUTHORIZED SIGNERS
 DO NOT OWN THE ACCOUNT FUNDS BUT MAY MAKE TRANSACTIONS FOR  THE  CONVEN-
 IENCE  OF  AN  ACCOUNT  OWNER.  AUTHORIZED SIGNERS HAVE NO RIGHT TO TAKE
 POSSESSION OF OR PERSONALLY USE ACCOUNT FUNDS.  THE BANK MAY  PAY  FUNDS
 TO ANYONE LISTED AS AN AUTHORIZED SIGNER WHILE ANY ACCOUNT OWNER LIVES.
 
     1.
 
     2.
 
   III.  DISPOSITION OF FUNDS UPON DEATH. ACCOUNT OWNERS MUST SPECIFY HOW
 ACCOUNT FUNDS SHOULD PASS UPON THE DEATH OF AN ACCOUNT OWNER:
 
     A. UPON THE DEATH OF AN ACCOUNT OWNER,  SHOULD  SUCH  OWNER'S  FUNDS
 PASS TO THE OTHER SURVIVING ACCOUNT OWNER(S)?
 
     NO. UPON MY DEATH, MY FUNDS SHOULD PASS ACCORDING TO MY ESTATE.
 
     YES.  UPON  MY  DEATH, MY FUNDS SHOULD PASS TO THE SURVIVING ACCOUNT
 OWNER(S).

     B. IF YOU ANSWERED "YES," CHOOSE ONE OF THE FOLLOWING OPTIONS:
 A. 9230                             3
 
     UPON THE DEATH OF THE LAST SURVIVING ACCOUNT OWNER, THE FUNDS SHOULD
 PASS TO SUCH OWNER'S ESTATE.
 
     UPON THE DEATH OF THE LAST SURVIVING ACCOUNT OWNER, THE FUNDS SHOULD
 PASS (EQUALLY) TO THE FOLLOWING PERSON(S):
 
     1.
 
     2.
 
                     SIGNATURE BLOCK AND NOTARIZATION
 
 ACCOUNT OWNERS AND AUTHORIZED SIGNER(S) MUST SIGN AND DATE BELOW. PLEASE
 NOTARIZE  THIS  DOCUMENT  TO  ENSURE  ITS  VALIDITY  IF  IT HAS NOT BEEN
 COMPLETED AT A BANK.
 
 BY SIGNING BELOW, I ACKNOWLEDGE THAT I HAVE  REVIEWED  EACH  SECTION  OF
 THIS  FORM  AND  UNDERSTAND  THE  OWNERSHIP  RIGHTS  ASSOCIATED WITH THE
 ACCOUNT SELECTIONS ABOVE. I HAVE MARKED THE TYPE OF ACCOUNT I WANT.
 
 ACCOUNT OWNER SIGNATURE(S)                                          DATE
 
 ________________________________________________________________________
 ________________________________________________________________________
 ________________________________________________________________________
 
 BY SIGNING BELOW, I ACKNOWLEDGE THAT I HAVE READ EACH PARAGRAPH OF  THIS
 FORM AND HAVE RECEIVED DISCLOSURE OF THE OWNERSHIP RIGHTS TO THE ACCOUNT
 SELECTIONS LISTED ABOVE. I UNDERSTAND THAT AS AN AUTHORIZED SIGNER, I DO
 NOT  OWN  THE FUNDS IN THE ACCOUNT AND HAVE NO RIGHT TO SUCH FUNDS AFTER
 THE DEATH OF AN ACCOUNT OWNER.

 AUTHORIZED SIGNER SIGNATURE(S)                                      DATE
 ________________________________________________________________________
 ________________________________________________________________________
 ________________________________________________________________________
   (L) "MULTIPLE-PERSON ACCOUNT" MEANS (1) ANY MULTIPLE-OWNER ACCOUNT  OR
 (2)  A SINGLE-OWNER ACCOUNT WITH AN AUTHORIZED SIGNER DESIGNATION, BENE-
 FICIARY DESIGNATION, OR BOTH.
   (M) "NET CONTRIBUTION" MEANS THE SUM OF DEPOSITS MADE BY OR ON  BEHALF
 OF  AN  ACCOUNT  OWNER  LESS  WITHDRAWALS  MADE  BY OR ON BEHALF OF SUCH
 ACCOUNT OWNER WHICH HAVE NOT BEEN PAID TO  OR  APPLIED  TO  THE  USE  OF
 ANOTHER  ACCOUNT OWNER AND A PROPORTIONATE SHARE OF ANY CHARGES DEDUCTED
 FROM THE ACCOUNT, PLUS A PROPORTIONATE SHARE OF ANY  INTEREST  OR  DIVI-
 DENDS  EARNED,  WHETHER OR NOT INCLUDED IN THE CURRENT BALANCE. THE TERM
 INCLUDES DEPOSIT LIFE INSURANCE PROCEEDS ADDED TO THE ACCOUNT BY  REASON
 OF DEATH OF THE ACCOUNT OWNER WHOSE NET CONTRIBUTION IS IN QUESTION.
   (N)  "PAYMENT  ON  DEATH (POD) DESIGNATION" MEANS THE DESIGNATION OF A
 BENEFICIARY IN AN ACCOUNT PAYABLE ON REQUEST  TO  ONE  OR  MORE  ACCOUNT
 OWNERS  DURING THEIR LIFETIMES AND, ON THE DEATH OF THE ACCOUNT OWNER OR
 OWNERS, TO ONE OR MORE BENEFICIARIES.
   (O) "PAYMENT OF SUMS ON DEPOSIT"  OR  "PAYMENT"  MEANS  WITHDRAWAL  OR
 PAYMENT  TO  AN ACCOUNT OWNER, AUTHORIZED SIGNER OR THIRD PERSON AUTHOR-
 IZED BY THE ACCOUNT OWNER TO MAKE  TRANSACTIONS  PURSUANT  TO  CHECK  OR
 OTHER REQUEST.
 A. 9230                             4
 
   (P)  "PERSON"  MEANS  AN  INDIVIDUAL,  A CORPORATION, ORGANIZATION, OR
 OTHER LEGAL ENTITY.
   (Q) "PERSONAL REPRESENTATIVE" MEANS EXECUTOR, ADMINISTRATOR, SUCCESSOR
 PERSONAL  REPRESENTATIVE, SPECIAL ADMINISTRATOR, AND PERSONS WHO PERFORM
 SUBSTANTIALLY THE SAME FUNCTION UNDER THE LAW GOVERNING THEIR STATUS.
   (R) "RECEIVE", AS IT RELATES TO NOTICE TO A BANK, MEANS RECEIPT IN THE
 OFFICE OR BRANCH OFFICE OF THE BANK IN WHICH THE ACCOUNT IS ESTABLISHED.
   (S) "REQUEST" MEANS A REQUEST FOR PAYMENT COMPLYING WITH ALL TERMS  OF
 THE  ACCOUNT, INCLUDING SPECIAL REQUIREMENTS CONCERNING NECESSARY SIGNA-
 TURES AND REGULATION OF THE BANK.
   (T) "SINGLE-OWNER ACCOUNT" MEANS AN ACCOUNT PAYABLE ON REQUEST TO  ONE
 ACCOUNT OWNER.
   (U)  "SUMS  ON  DEPOSIT"  MEANS  THE  BALANCE  PAYABLE ON THE ACCOUNT,
 INCLUDING INTEREST AND DIVIDENDS EARNED, WHETHER OR NOT INCLUDED IN  THE
 CURRENT  BALANCE  AND  ANY  DEPOSIT LIFE INSURANCE PROCEEDS ADDED TO THE
 ACCOUNT BY REASON OF DEATH OF AN ACCOUNT OWNER.
   (V) "SINGLE-OWNER ACCOUNT SELECTION FORM" MEANS THE FOLLOWING CONTRACT
 OF DEPOSIT ESTABLISHING THE TERMS  OF  A  SINGLE-OWNER  ACCOUNT  IN  THE
 FOLLOWING  FORM,  OR  A  SUBSTANTIALLY  EQUIVALENT  FORM  IN THE ACCOUNT
 OWNER'S PRIMARY LANGUAGE,  IN  FOURTEEN-POINT  TYPE,  PUBLISHED  BY  THE
 DEPARTMENT, WHETHER IN PHYSICAL OR ELECTRONIC WRITTEN FORM:
 
                     SINGLE-OWNER ACCOUNT SELECTION FORM
 
 THIS IS AN IMPORTANT LEGAL DOCUMENT. THE SELECTIONS BELOW WILL DETERMINE
 WHO OWNS THE FUNDS IN THIS ACCOUNT AND HOW SUCH FUNDS WILL PASS UPON THE
 DEATH OF THE ACCOUNT OWNER. YOU MAY WISH TO CONSULT AN ATTORNEY.
 
 SINGLE-OWNER  ACCOUNT:  THIS  FORM  MUST  BE  COMPLETED UPON CREATING OR
 CHANGING THE TERMS OF AN ACCOUNT THAT IS OWNED BY ONLY ONE PERSON.
 
   I. ACCOUNT OWNER. LIST THE NAME OF THE PERSON WHO OWNS  THE  FUNDS  IN
 THIS ACCOUNT.
 
     1.
 
   II.  AUTHORIZED SIGNER(S). THE ACCOUNT OWNER MAY (BUT NEED NOT) DESIG-
 NATE ONE OR MORE PERSONS AS AN "AUTHORIZED SIGNER."  AUTHORIZED  SIGNERS
 DO  NOT  OWN THE ACCOUNT FUNDS BUT MAY MAKE TRANSACTIONS FOR THE CONVEN-
 IENCE OF THE ACCOUNT OWNER. AUTHORIZED SIGNERS HAVE  NO  RIGHT  TO  TAKE
 POSSESSION OF OR PERSONALLY USE ACCOUNT FUNDS. THE BANK MAY PAY FUNDS TO
 ANYONE LISTED AS AN AUTHORIZED SIGNER WHILE THE ACCOUNT OWNER LIVES.
 
     1.
 
     2.
 
   III.  DISPOSITION  OF FUNDS UPON DEATH. THE ACCOUNT OWNER  MUST CHOOSE
 HOW THE ACCOUNT FUNDS SHOULD PASS UPON THEIR DEATH:
 
     UPON MY DEATH, THE FUNDS SHOULD PASS ACCORDING TO MY ESTATE.
 
     UPON MY DEATH, THE FUNDS SHOULD  PASS  (EQUALLY)  TO  THE  FOLLOWING
 PERSON(S):
 
     1.
 A. 9230                             5
 
     2.
 
                     SIGNATURE BLOCK AND NOTARIZATION
 
 ACCOUNT  OWNERS  AND AUTHORIZED SIGNERS MUST SIGN AND DATE BELOW. PLEASE
 NOTARIZE THIS DOCUMENT TO  ENSURE  ITS  VALIDITY  IF  IT  HAS  NOT  BEEN
 COMPLETED AT A BANK.
 
 BY  SIGNING  BELOW,  I  ACKNOWLEDGE THAT I HAVE REVIEWED EACH SECTION OF
 THIS FORM AND  UNDERSTAND  THE  OWNERSHIP  RIGHTS  ASSOCIATED  WITH  THE
 ACCOUNT SELECTIONS ABOVE. I HAVE MARKED THE TYPE OF ACCOUNT I WANT.
 
 ACCOUNT OWNER SIGNATURE                                             DATE
 ________________________________________________________________________
 
 BY  SIGNING  BELOW,  I  ACKNOWLEDGE THAT I HAVE REVIEWED EACH SECTION OF
 THIS FORM AND  UNDERSTAND  THE  OWNERSHIP  RIGHTS  ASSOCIATED  WITH  THE
 ACCOUNT  SELECTIONS  ABOVE. I UNDERSTAND THAT AS AN AUTHORIZED SIGNER, I
 DO NOT OWN THE FUNDS IN THE ACCOUNT AND HAVE  NO  RIGHT  TO  SUCH  FUNDS
 AFTER THE DEATH OF AN ACCOUNT OWNER.
 
 AUTHORIZED SIGNER(S) SIGNATURE                                      DATE
 ________________________________________________________________________
   (W)  "TERMS  OF THE ACCOUNT" INCLUDES THE DEPOSIT AGREEMENT, INCLUDING
 THE ACCOUNT SELECTION FORMS, AND  OTHER  TERMS  AND  CONDITIONS  OF  THE
 CONTRACT OF DEPOSIT.
   2. SCOPE OF SECTION. THIS SECTION SHALL:
   (A)  APPLY  TO  MULTIPLE-PERSON  AND SINGLE-OWNER ACCOUNTS IN NEW YORK
 STATE ESTABLISHED FOR PERSONAL USE.
   (B) NOT AFFECT THE LAW GOVERNING TENANCY BY THE ENTIRETIES.
   (C) NOT APPLY TO:
   (I) AN ACCOUNT ESTABLISHED FOR A PARTNERSHIP, JOINT VENTURE, OR  OTHER
 ORGANIZATION FOR A BUSINESS PURPOSE;
   (II) AN ACCOUNT CONTROLLED BY ONE OR MORE PERSONS AS AN AGENT OR TRUS-
 TEE  FOR  A  CORPORATION,  UNINCORPORATED  ASSOCIATION, OR CHARITABLE OR
 CIVIC ORGANIZATION; OR
   (III) A FIDUCIARY OR TRUST ACCOUNT IN WHICH THE RELATIONSHIP IS ESTAB-
 LISHED OTHER THAN BY THE TERMS OF THE ACCOUNT.
   3. TYPES OF ACCOUNTS. (A) A BANK MAY ENTER A CONTRACT  OF  DEPOSIT  TO
 ESTABLISH  A  SINGLE-OWNER  ACCOUNT OR A MULTIPLE-OWNER ACCOUNT, AND MAY
 PROVIDE FOR ONE OR MORE POD DESIGNATIONS, ONE OR MORE AUTHORIZED  SIGNER
 DESIGNATIONS,  OR BOTH IN EACH TYPE OF ACCOUNT. A MULTIPLE-OWNER ACCOUNT
 MAY BE WITH OR WITHOUT A RIGHT OF SURVIVORSHIP BETWEEN THE OTHER ACCOUNT
 OWNERS.
   (B) AN ACCOUNT ESTABLISHED AFTER THE EFFECTIVE DATE  OF  THIS  SECTION
 SHALL  BE  CONSIDERED  EITHER A SINGLE-OWNER ACCOUNT OR A MULTIPLE-OWNER
 ACCOUNT, WITH OR WITHOUT THE RIGHT OF SURVIVORSHIP, WITH OR WITHOUT  ONE
 OR  MORE  POD  DESIGNATIONS,  AND WITH OR WITHOUT ONE OR MORE AUTHORIZED
 SIGNER DESIGNATIONS.
   4. ADMINISTRATION OF ACCOUNT SELECTION FORMS.  (A)  ACCOUNT  SELECTION
 FORMS  SHALL  ESTABLISH  THE TYPE OF ACCOUNT PROVIDED, AND SUCH ACCOUNTS
 SHALL BE GOVERNED BY THE PROVISIONS  OF  THIS  ACT  APPLICABLE  TO  SUCH
 ACCOUNT TYPE.
   (B)  THE  SINGLE-OWNER ACCOUNT SELECTION FORM SHALL BE ADMINISTERED BY
 THE BANK UPON THE ESTABLISHMENT OF A SINGLE-OWNER  ACCOUNT  WITH  A  POD
 DESIGNATION,  AUTHORIZED  SIGNER DESIGNATION, OR BOTH, AND THEREAFTER IF
 A. 9230                             6
 
 THE ACCOUNT OWNER OR  OWNERS  CHANGE  THE  TERMS  OF  SUCH  SINGLE-OWNER
 ACCOUNT.
   (C) THE MULTIPLE-OWNER ACCOUNT SELECTION FORM SHALL BE ADMINISTERED BY
 THE  BANK  UPON THE ESTABLISHMENT OF A MULTIPLE-OWNER ACCOUNT AND THERE-
 AFTER IF THE ACCOUNT OWNERS CHANGE  THE  TERMS  OF  SUCH  MULTIPLE-OWNER
 ACCOUNT.
   (D) ALL ACCOUNT OWNERS ON A MULTIPLE-OWNER ACCOUNT MUST AGREE IN WRIT-
 ING  TO ANY CHANGE IN THE TERMS OF AN ACCOUNT RELATING TO ACCOUNT OWNER-
 SHIP, SURVIVORSHIP RIGHTS, AUTHORIZED SIGNERS, AND  BENEFICIARIES  USING
 THE APPLICABLE ACCOUNT SELECTION FORM.
   (E)  THE ACCOUNT SELECTION FORMS SHALL BE NOTARIZED BY A NOTARY PUBLIC
 UNLESS COMPLETED AT A BANK OR FILED ELECTRONICALLY PURSUANT  TO  ARTICLE
 THREE OF THE STATE TECHNOLOGY LAW AND SHALL COMPLY WITH OTHER STATE LAWS
 AND REGULATIONS.
   (F)  EACH  BANK SUBJECT TO THIS SECTION SHALL MAINTAIN THE APPROPRIATE
 ACCOUNT SELECTION FORM  OR  FORMS  FOR  EACH  SINGLE  OR  MULTIPLE-OWNER
 ACCOUNT  SO  LONG  AS  THE ACCOUNT IS OPEN AND FOR A PERIOD OF SIX YEARS
 AFTER IT IS CLOSED.
   5. DESIGNATION OF AUTHORIZED SIGNER OR BENEFICIARY. (A) IN  A  SINGLE-
 OWNER  ACCOUNT,  THE  ACCOUNT  OWNER  MAY  USE  THE SINGLE-OWNER ACCOUNT
 SELECTION FORM TO DESIGNATE A PERSON OR PERSONS OTHER  THAN  AN  ACCOUNT
 OWNER AS AN AUTHORIZED SIGNER OR BENEFICIARY.
   (B)  IN A MULTIPLE-OWNER ACCOUNT, ACCOUNT OWNERS MAY USE THE MULTIPLE-
 OWNER ACCOUNT SELECTION FORM TO DESIGNATE A PERSON OR PERSONS OTHER THAN
 AN ACCOUNT OWNER AS AN AUTHORIZED SIGNER OR BENEFICIARY FOR ALL  ACCOUNT
 OWNERS ON AN ACCOUNT.  ALL ACCOUNT OWNERS MUST CONSENT TO ANY AUTHORIZED
 SIGNER  OR  POD  DESIGNATION IN WRITING USING THE MULTIPLE-OWNER ACCOUNT
 SELECTION FORM.
   (C) UNLESS THERE IS CLEAR  AND  CONVINCING  EVIDENCE  OF  A  DIFFERENT
 INTENT,  THE  AUTHORIZED SIGNER'S AUTHORITY SHALL SURVIVE DISABILITY AND
 INCAPACITY. THE AUTHORIZED SIGNER MAY ACT FOR A  DISABLED  OR  INCAPACI-
 TATED  ACCOUNT  OWNER  UNTIL  THE  AUTHORITY OF THE AUTHORIZED SIGNER IS
 TERMINATED.
   (D) DEATH OF THE SOLE ACCOUNT OWNER OR LAST  SURVIVING  ACCOUNT  OWNER
 SHALL TERMINATE THE AUTHORITY OF AN AUTHORIZED SIGNER.
   6. ACCOUNT OWNERSHIP DURING LIFETIME. (A) IN A MULTIPLE-OWNER ACCOUNT,
 DURING  THE  LIFETIMES  OF ALL ACCOUNT OWNERS, AN ACCOUNT BELONGS TO THE
 ACCOUNT OWNERS IN PROPORTION TO THE NET CONTRIBUTION OF EACH TO THE SUMS
 ON DEPOSIT, UNLESS THERE IS CLEAR AND CONVINCING EVIDENCE OF A DIFFERENT
 INTENT. IN THE ABSENCE OF PROOF OTHERWISE, THE NET CONTRIBUTION OF  EACH
 IS PRESUMED TO BE AN EQUAL AMOUNT.
   (B) A BENEFICIARY IN AN ACCOUNT HAVING A POD DESIGNATION SHALL HAVE NO
 BENEFICIAL  RIGHT  TO SUMS ON DEPOSIT DURING THE LIFETIME OF ANY ACCOUNT
 OWNER.
   (C) AN AUTHORIZED SIGNER SHALL HAVE NO BENEFICIAL  RIGHT  TO  SUMS  ON
 DEPOSIT.
   7.  RIGHTS AT DEATH. (A) RIGHTS  AT  DEATH  OF  AN  ACCOUNT  OWNER ARE
 DETERMINED BY THE TERMS OF THE ACCOUNT  AT  THE  TIME  OF  SUCH  ACCOUNT
 OWNER'S DEATH.
   (B) A TRANSFER RESULTING FROM THE APPLICATION OF THIS SECTION SHALL BE
 EFFECTIVE  BY  REASON  OF  THE  TERMS  OF  THE ACCOUNT INVOLVED AND THIS
 SECTION AND IS NOT TESTAMENTARY OR SUBJECT TO ESTATE ADMINISTRATION.
   (C) UNLESS ALL THE ACCOUNT OWNERS HAVE INDICATED A PREFERENCE FOR  THE
 RIGHT  OF  SURVIVORSHIP ON THE MULTIPLE-OWNER ACCOUNT SELECTION FORM, OR
 THERE IS CLEAR AND CONVINCING EVIDENCE OF A DIFFERENT INTENT,  UPON  THE
 A. 9230                             7
 
 DEATH  OF  AN ACCOUNT OWNER, SUMS ON DEPOSIT IN A MULTIPLE-OWNER ACCOUNT
 SHALL PASS TO THE ESTATE OF SUCH DECEASED ACCOUNT OWNER.
   (D) IF TWO OR MORE ACCOUNT OWNERS SURVIVE, AND ALL ACCOUNT OWNERS HAVE
 INDICATED  A  PREFERENCE  FOR THE RIGHT OF SURVIVORSHIP ON THE MULTIPLE-
 OWNER ACCOUNT SELECTION FORM,  UNLESS  THERE  IS  CLEAR  AND  CONVINCING
 EVIDENCE  OF A DIFFERENT INTENT, THE AMOUNT TO WHICH THE DECEDENT, IMME-
 DIATELY BEFORE DEATH, WAS BENEFICIALLY ENTITLED, PURSUANT TO SUBDIVISION
 SIX OF THIS SECTION, SHALL BELONG TO THE  SURVIVING  ACCOUNT  OWNERS  IN
 EQUAL  SHARES, AND AUGMENTS THE PROPORTION TO WHICH EACH SURVIVOR, IMME-
 DIATELY BEFORE THE DECEDENT'S DEATH, WAS BENEFICIALLY ENTITLED TO PURSU-
 ANT TO SUCH SUBDIVISION, AND THE RIGHT OF SURVIVORSHIP CONTINUES BETWEEN
 THE SURVIVING ACCOUNT OWNERS.
   (E) IN AN ACCOUNT WITH A POD DESIGNATION:
   (I) ON DEATH OF ONE OF TWO OR MORE ACCOUNT OWNERS, THE RIGHTS TO  SUMS
 ON DEPOSIT ARE GOVERNED BY PARAGRAPH (C) OR (D) OF THIS SUBDIVISION.
   (II) ON DEATH OF THE SOLE ACCOUNT OWNER OR THE LAST SURVIVOR OF TWO OR
 MORE ACCOUNT OWNERS, SUMS ON DEPOSIT BELONG TO THE SURVIVING BENEFICIARY
 OR  BENEFICIARIES. IF TWO OR MORE BENEFICIARIES SURVIVE, SUMS ON DEPOSIT
 BELONG TO THEM IN EQUAL AND UNDIVIDED SHARES,  AND  THERE  SHALL  BE  NO
 RIGHT OF SURVIVORSHIP IN THE EVENT OF DEATH OF A BENEFICIARY THEREAFTER.
 IF  NO BENEFICIARY SURVIVES, SUMS ON DEPOSIT BELONG TO THE ESTATE OF THE
 LAST SURVIVING ACCOUNT OWNER.
   (III) SUMS ON DEPOSIT IN A SINGLE-OWNER ACCOUNT WITHOUT A  POD  DESIG-
 NATION,  OR  IN  A  MULTIPLE-OWNER  ACCOUNT  THAT,  BY  THE TERMS OF THE
 ACCOUNT, IS WITHOUT RIGHT OF SURVIVORSHIP, ARE NOT AFFECTED BY THE DEATH
 OF AN ACCOUNT OWNER, BUT THE AMOUNT TO WHICH THE  DECEDENT,  IMMEDIATELY
 BEFORE  DEATH, WAS BENEFICIALLY ENTITLED, PURSUANT TO SUBDIVISION SIX OF
 THIS SECTION, IS TRANSFERRED AS PART OF THE  DECEDENT'S  ESTATE.  A  POD
 DESIGNATION  IN  A MULTIPLE-OWNER ACCOUNT WITHOUT THE RIGHT OF SURVIVOR-
 SHIP SHALL BE INEFFECTIVE.
   (IV) THE OWNERSHIP RIGHTS OF A SURVIVING ACCOUNT OWNER OR BENEFICIARY,
 OR OF THE DECEDENT'S ESTATE, IN SUMS ON DEPOSIT IS  SUBJECT  TO  REQUEST
 FOR  PAYMENT  MADE BY AN ACCOUNT OWNER BEFORE THE ACCOUNT OWNER'S DEATH,
 WHETHER PAID BY THE BANK BEFORE OR AFTER DEATH, OR UNPAID, THE SURVIVING
 ACCOUNT OWNER OR BENEFICIARY, OR THE DECEDENT'S ESTATE, IS LIABLE TO THE
 PAYEE OF AN UNPAID REQUEST FOR PAYMENT. THE LIABILITY IS  LIMITED  TO  A
 PROPORTIONATE SHARE OF THE AMOUNT TRANSFERRED UNDER THIS SECTION, TO THE
 EXTENT NECESSARY TO DISCHARGE THE REQUEST FOR PAYMENT.
   8.  ALTERATION  OF RIGHTS. (A) AN ACCOUNT OWNER MAY ALTER THE TERMS OF
 THE ACCOUNT BY COMPLETING A NEW ACCOUNT SELECTION FORM FOR SUCH  ACCOUNT
 AND  SUBMITTING IT TO THE BANK. TO BE EFFECTIVE, ALL ACCOUNT OWNERS MUST
 CONSENT TO THE ALTERATION  IN  WRITING  USING  THE  APPROPRIATE  ACCOUNT
 SELECTION  FORM,  AND  THE NOTICE MUST BE RECEIVED BY THE BANK DURING AN
 ACCOUNT OWNER'S LIFETIME.
   (B) A RIGHT OF SURVIVORSHIP ARISING FROM  THE  EXPRESS  TERMS  OF  THE
 ACCOUNT, ESTABLISHED PURSUANT TO SUBDIVISION SEVEN OF THIS SECTION, OR A
 POD DESIGNATION, MAY NOT BE ALTERED BY WILL.
   9.  PAYMENT  ON  MULTIPLE-OWNER  ACCOUNTS. A BANK, ON REQUEST, MAY PAY
 SUMS ON DEPOSIT IN A MULTIPLE-OWNER ACCOUNT TO:
   (A) ONE OR MORE OF THE ACCOUNT OWNERS, WHETHER OR NOT ANOTHER  ACCOUNT
 OWNER  IS DISABLED, INCAPACITATED, OR DECEASED WHEN PAYMENT IS REQUESTED
 AND WHETHER OR NOT THE ACCOUNT OWNER MAKING THE REQUEST SURVIVES ANOTHER
 ACCOUNT OWNER; OR
   (B) THE PERSONAL REPRESENTATIVE, IF ANY, OR, IF  THERE  IS  NONE,  THE
 HEIRS  OR  DEVISEES  OF  A  DECEASED  ACCOUNT OWNER IF PROOF OF DEATH IS
 PRESENTED TO THE BANK SHOWING THAT THE DECEASED ACCOUNT  OWNER  WAS  THE
 A. 9230                             8
 
 SURVIVOR  OF ALL OTHER PERSONS NAMED ON THE ACCOUNT EITHER AS AN ACCOUNT
 OWNER OR BENEFICIARY, UNLESS THE ACCOUNT IS WITHOUT RIGHT  OF  SURVIVOR-
 SHIP PURSUANT TO SUBDIVISION SEVEN OF THIS SECTION.
   10.  PAYMENT TO AUTHORIZED SIGNER. A BANK, ON REQUEST, MAY PAY SUMS ON
 DEPOSIT IN AN ACCOUNT WITH AN  AUTHORIZED  SIGNER  DESIGNATION  TO  SUCH
 AUTHORIZED SIGNER WHETHER OR NOT AN ACCOUNT OWNER IS DISABLED, INCAPACI-
 TATED,  OR DECEASED WHEN THE REQUEST IS MADE OR RECEIVED, AND WHETHER OR
 NOT THE AUTHORITY OF THE AUTHORIZED SIGNER TERMINATES ON THE  DISABILITY
 OR INCAPACITY OF AN ACCOUNT OWNER.
   11.  PAYMENT  ON  POD DESIGNATION. A BANK, ON REQUEST, MAY PAY SUMS ON
 DEPOSIT IN AN ACCOUNT WITH A POD DESIGNATION TO:
   (A) ONE OR MORE OF THE ACCOUNT OWNERS, WHETHER OR NOT ANOTHER  ACCOUNT
 OWNER  IS  DISABLED,  INCAPACITATED,  OR  DECEASED  WHEN  THE PAYMENT IS
 REQUESTED AND WHETHER OR NOT AN ACCOUNT OWNER SURVIVES  ANOTHER  ACCOUNT
 OWNER;
   (B)  THE  BENEFICIARY OR BENEFICIARIES, IF PROOF OF DEATH IS PRESENTED
 TO THE BANK SHOWING THAT THE BENEFICIARY OR BENEFICIARIES  SURVIVED  ALL
 ACCOUNT OWNERS; OR
   (C)  THE  PERSONAL  REPRESENTATIVE,  IF ANY, OR, IF THERE IS NONE, THE
 HEIRS OR DEVISEES OF A DECEASED ACCOUNT OWNER,  IF  PROOF  OF  DEATH  IS
 PRESENTED  TO  THE  BANK SHOWING THAT THE DECEASED ACCOUNT OWNER WAS THE
 SURVIVOR OF ALL OTHER PERSONS NAMED ON THE  ACCOUNT  EITHER  AS  ACCOUNT
 OWNER OR BENEFICIARY.
   12.  DISCHARGE  OF  BANK  FROM LIABILITY. (A) PAYMENT MADE PURSUANT TO
 THIS SECTION IN ACCORDANCE WITH THE TERMS OF THE ACCOUNT OR THE  ACCOUNT
 SELECTION FORMS DISCHARGES THE BANK FROM ALL CLAIMS FOR AMOUNTS SO PAID,
 WHETHER  OR  NOT  THE  PAYMENT IS CONSISTENT WITH THE BENEFICIAL ACCOUNT
 OWNERSHIP OF THE ACCOUNT AS BETWEEN ACCOUNT  OWNERS,  BENEFICIARIES,  OR
 THEIR  SUCCESSORS.  PAYMENT MAY BE MADE WHETHER OR NOT AN ACCOUNT OWNER,
 BENEFICIARY,  OR  AUTHORIZED  SIGNER  IS  DISABLED,  INCAPACITATED,   OR
 DECEASED WHEN PAYMENT IS REQUESTED, RECEIVED, OR MADE.
   (B)  PROTECTION  UNDER  THIS  SECTION DOES NOT EXTEND TO PAYMENTS MADE
 AFTER A BANK HAS RECEIVED WRITTEN NOTICE FROM AN ACCOUNT OWNER, OR  FROM
 THE  PERSONAL  REPRESENTATIVE,  SURVIVING  SPOUSE, HEIR, OR DEVISEE OF A
 DECEASED ACCOUNT OWNER, TO THE EFFECT THAT PAYMENTS IN  ACCORDANCE  WITH
 THE  TERMS  OF  THE  ACCOUNT,  INCLUDING ONE HAVING AN AUTHORIZED SIGNER
 DESIGNATION, SHOULD NOT BE PERMITTED, AND THE BANK HAS HAD A  REASONABLE
 OPPORTUNITY  TO ACT ON IT WHEN THE PAYMENT IS MADE. UNLESS THE NOTICE IS
 WITHDRAWN BY THE PERSON GIVING IT, THE SUCCESSOR OF ANY DECEASED ACCOUNT
 OWNER MUST CONCUR IN A  REQUEST  FOR  PAYMENT  IF  THE  BANK  IS  TO  BE
 PROTECTED UNDER THIS SECTION. UNLESS A BANK HAS BEEN SERVED WITH PROCESS
 IN  AN  ACTION OR PROCEEDING, NO OTHER NOTICE OR OTHER INFORMATION SHOWN
 TO HAVE BEEN AVAILABLE TO THE BANK AFFECTS ITS RIGHT TO PROTECTION UNDER
 THIS SECTION.
   (C) A BANK THAT RECEIVES WRITTEN NOTICE PURSUANT TO  THIS  SECTION  OR
 OTHERWISE  HAS  REASON TO BELIEVE THAT A DISPUTE EXISTS AS TO THE RIGHTS
 OF THE ACCOUNT OWNERS MAY REFUSE, WITHOUT LIABILITY, TO MAKE PAYMENTS IN
 ACCORDANCE WITH THE TERMS OF THE ACCOUNT. A BANK NEED NOT INQUIRE AS  TO
 THE  SOURCE OF A DEPOSIT TO AN ACCOUNT OR AS TO THE PROPOSED APPLICATION
 OF A PAYMENT FROM AN ACCOUNT.
   (D) PROTECTION OF A BANK UNDER THIS SECTION DOES NOT AFFECT THE RIGHTS
 OF ACCOUNT OWNERS IN DISPUTES BETWEEN  THEMSELVES  OR  THEIR  SUCCESSORS
 CONCERNING THE OWNERSHIP OF SUMS ON DEPOSIT IN ACCOUNTS OR PAYMENTS MADE
 FROM ACCOUNTS.
   (E)  BENEFICIAL  ACCOUNT  OWNERSHIP  AS  BETWEEN  ACCOUNT OWNERS OR AS
 BETWEEN ACCOUNT OWNERS AND BENEFICIARIES  APPLY  ONLY  TO  CONTROVERSIES
 A. 9230                             9
 
 BETWEEN  THOSE  PERSONS AND THEIR CREDITORS AND OTHER SUCCESSORS, AND DO
 NOT APPLY THE RIGHT OF THOSE PERSONS TO PAYMENT  AS  DETERMINED  BY  THE
 TERMS OF THE ACCOUNT.
   13.  EXISTING  ACCOUNTS.  EACH  BANK  SHALL,  FOR EACH MULTIPLE-PERSON
 ACCOUNT ESTABLISHED BEFORE THE EFFECTIVE DATE OF  THIS  SECTION,  NOTIFY
 THE  ACCOUNT  OWNERS OF SUCH ACCOUNTS ABOUT THE REQUIREMENT TO SUBMIT AN
 ACCOUNT SELECTION FORM WITHIN ONE YEAR FROM THE EFFECTIVE DATE  OF  THIS
 ACT.  SUCH  BANK  SHALL  PROVIDE EACH ACCOUNT OWNER WITH THE APPROPRIATE
 ACCOUNT SELECTION FORM AS PART  OF  SUCH  NOTICE.  SUCH  NOTICE  MAY  BE
 EXECUTED BY MAIL OR, IF AUTHORIZED BY ACCOUNT OWNER OR OWNERS, ELECTRON-
 ICALLY.  IF  THE BANK HAS NOT RECEIVED AN ACCOUNT SELECTION FORM FROM AN
 ACCOUNT OWNER WITHIN SIX MONTHS OF THE EFFECTIVE DATE OF THIS  ACT,  THE
 BANK SHALL PROVIDE A SECOND NOTICE.
   14.  REGULATIONS  OF  THE  SUPERINTENDENT.  THE  SUPERINTENDENT  SHALL
 PROMULGATE AND MAY FROM TIME TO TIME AMEND RULES AND  REGULATIONS  WHICH
 REQUIRE  THAT  THE  ACCOUNT OWNER OR OWNERS OF A MULTIPLE-PERSON ACCOUNT
 UNDER THIS SECTION BE INFORMED   OF THE   TERMS AND  CONDITIONS  OF  THE
 ACCOUNT, INCLUDING THE RELATIONSHIP AND CONSEQUENCES BETWEEN THE PERSONS
 ASSOCIATED  WITH THE ACCOUNT, THE DIFFERENCES BETWEEN ACCOUNT TYPES, AND
 THE RESPONSIBILITIES OF THE INSTITUTION WITH WHICH THE ACCOUNT IS ESTAB-
 LISHED.
   15. SEVERABILITY CLAUSE. IF ANY PROVISION OF THIS ACT OR ITS  APPLICA-
 TION  TO ANY PERSON OR CIRCUMSTANCE IS HELD INVALID, THE INVALIDITY DOES
 NOT AFFECT OTHER PROVISIONS OR APPLICATION OF  THIS  ACT  WHICH  CAN  BE
 GIVEN  EFFECT WITHOUT THE INVALID PROVISION OR APPLICATION, AND  TO THIS
 END THE PROVISIONS OF THIS ACT ARE SEVERABLE.
   § 3. Section 679 of the banking law, as added by chapter  432  of  the
 laws of 2018, is amended to read as follows:
   §  679.  Public  awareness; banking services. The superintendent shall
 conduct a public awareness campaign to educate  consumers  on  different
 banking  services  available  in  the state, particularly those that can
 assist vulnerable adults  in  financial  planning,  including,  but  not
 limited  to,  citizens of an advanced age, individuals with cognitive or
 developmental disabilities, or those who have health or physical  issues
 that  impair their financial independence. The public awareness campaign
 shall include information regarding the  differences  between  types  of
 accounts, including joint and [convenience] MULTIPLE-PERSON accounts, as
 well  as  the rights and responsibilities generally recognized for each.
 The public awareness campaign shall also include, but not be limited to,
 answers to general concerns and questions that individuals may have with
 respect to the establishment of certain types of accounts and  services,
 as  well  as information and recommendations for obtaining more informa-
 tion.
   § 4. This act shall take effect on the one hundred eightieth day after
 it shall have become a law. Effective immediately, the addition,  amend-
 ment and/or repeal of any rule or regulation necessary for the implemen-
 tation  of  this act on its effective date are authorized to be made and
 completed on or before such effective date.

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  9230--A
 
                           I N  A S S E M B L Y
 
                             February 20, 2024
                                ___________
 
 Introduced  by M. of A. WALLACE -- read once and referred to the Commit-
   tee on Banks -- committee discharged, bill amended, ordered  reprinted
   as amended and recommitted to said committee
 
 AN  ACT  to amend the banking law, in relation to establishing multiple-
   person accounts; and to repeal certain provisions of such law relating
   thereto

   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1.  Section 675 of the banking law is amended by adding a new
 subdivision (d) to read as follows:
   (D) THIS SECTION SHALL NOT APPLY TO ACCOUNTS ESTABLISHED IN  NEW  YORK
 STATE FOR PERSONAL USE.
   §  2. Section 678 of the banking law is REPEALED and a new section 678
 is added to read as follows:
   §  678.  MULTIPLE-PERSON  ACCOUNTS;  PERSONAL  ACCOUNT  OWNERSHIP  AND
 PAYMENT.    1. DEFINITIONS. NOTWITHSTANDING ANY OTHER PROVISIONS OF LAW,
 FOR THE PURPOSES OF THIS SECTION:
   (A) "ACCOUNT" MEANS A CONTRACT OF DEPOSIT BETWEEN ONE OR MORE  ACCOUNT
 OWNERS AND A BANK.
   (B) "ADMINISTER" MEANS, IN CONNECTION WITH THE ACCOUNT SIGNATURE CARD,
 A BANK OFFERING THE ACCOUNT SIGNATURE CARD TO ONE OR MORE ACCOUNT OWNERS
 UPON  ESTABLISHING  OR CHANGING THE TERMS OF A SINGLE-OWNER OR MULTIPLE-
 PERSON ACCOUNT AND PROVIDING INFORMATION TO HELP SUCH ACCOUNT  OWNER  OR
 OWNERS  TO UNDERSTAND AND COMPLETE SUCH ACCOUNT SIGNATURE CARD; PROVIDED
 HOWEVER, THAT NOTHING IN THIS SECTION SHALL BE CONSTRUED TO REQUIRE BANK
 PERSONNEL TO PROVIDE LEGAL OR ESTATE PLANNING ADVICE TO AN ACCOUNT OWNER
 OR OWNERS PURSUANT TO THIS SECTION.
   (C) "ACCOUNT OWNER" MEANS A PERSON WHO, BY THE TERMS  OF  AN  ACCOUNT,
 HAS  A  PRESENT  RIGHT,  SUBJECT TO REQUEST, TO PAYMENT FROM THE ACCOUNT
 OTHER THAN AN AUTHORIZED SIGNER.
   (D) "ACCOUNT SIGNATURE CARD" MEANS THE FOLLOWING CONTRACT  OF  DEPOSIT
 ESTABLISHING  THE  TERMS OF A SINGLE-OWNER OR MULTIPLE-PERSON ACCOUNT IN
 THE FOLLOWING FORM, OR A SUBSTANTIALLY EQUIVALENT FORM  IN  THE  ACCOUNT
 OWNER'S  PRIMARY  LANGUAGE,  IN  FOURTEEN-POINT  TYPE,  PUBLISHED BY THE
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
              

                                                            LBD14475-03-4
 A. 9230--A                          2
 
 DEPARTMENT OF FINANCIAL SERVICES,  WHETHER  IN  PHYSICAL  OR  ELECTRONIC
 WRITTEN FORM:
 
                          ACCOUNT SIGNATURE CARD
 THIS IS AN IMPORTANT LEGAL DOCUMENT. THE SELECTIONS BELOW WILL DETERMINE
 WHO OWNS THE FUNDS IN THIS ACCOUNT AND HOW SUCH FUNDS WILL PASS UPON THE
 DEATH OF AN ACCOUNT OWNER. YOU MAY WISH TO CONSULT AN ATTORNEY.
 
   I. ACCOUNT OWNER(S). IDENTIFY THE ACCOUNT OWNER OR OWNERS.
 
   EACH  ACCOUNT  OWNER'S  SHARE  OF  THE ACCOUNT FUNDS IS EQUAL TO THEIR
 DEPOSITS MINUS THEIR WITHDRAWALS. THE BANK IS NOT RESPONSIBLE FOR DETER-
 MINING SHARES AND MAY PAY FUNDS TO ANY IDENTIFIED ACCOUNT OWNER.
 
 1. ____________________________________________________________________
 
 2. ____________________________________________________________________
 
 3. ____________________________________________________________________

   II. AUTHORIZED SIGNER(S). IDENTIFY THE AUTHORIZED  SIGNER  OR  SIGNERS
 (OPTIONAL).
 
   THE  ACCOUNT  OWNER OR OWNERS MAY (BUT NEED NOT) DESIGNATE ONE OR MORE
 "AUTHORIZED SIGNERS" TO MAKE ACCOUNT TRANSACTIONS FOR THEIR CONVENIENCE.
 AN AUTHORIZED SIGNER HAS NO RIGHT TO TAKE POSSESSION OF ACCOUNT FUNDS OR
 USE SUCH FUNDS FOR PERSONAL BENEFIT. WHILE ANY ACCOUNT OWNER LIVES,  THE
 BANK MAY PAY FUNDS TO ANY IDENTIFIED AUTHORIZED SIGNER.
 
 1. ____________________________________________________________________
 
 2. ____________________________________________________________________
 
 3. ____________________________________________________________________
 
   III. DISPOSITION OF ACCOUNT WITH MULTIPLE OWNERS UPON DEATH.

   ONLY  ANSWER  THE  FOLLOWING QUESTION IF THE ACCOUNT HAS MORE THAN ONE
 OWNER. SHOULD A DECEASED ACCOUNT OWNER'S SHARE OF THE ACCOUNT FUNDS PASS
 TO THE OTHER SURVIVING ACCOUNT OWNER OR OWNERS?
 
   ____ NO. A DECEASED ACCOUNT OWNER'S SHARE OF THE ACCOUNT FUNDS  SHOULD
 BE DISPOSED OF AS PART OF SUCH OWNER'S ESTATE.
 
   ____ YES. A DECEASED ACCOUNT OWNER'S SHARE OF THE ACCOUNT FUNDS SHOULD
 PASS TO THE SURVIVING ACCOUNT OWNER OR OWNERS.
 
                     SIGNATURE BLOCK AND NOTARIZATION
 
 ACCOUNT  OWNER(S) AND AUTHORIZED SIGNER(S) MUST SIGN AND DATE BELOW. ANY
 SIGNATURE BELOW MUST BE ACKNOWLEDGED BEFORE A NOTARY  PUBLIC  TO  ENSURE
 ITS VALIDITY IF THIS SIGNATURE CARD HAS NOT BEEN ADMINISTERED BY A BANK.

 BY  SIGNING  BELOW,  I  ACKNOWLEDGE THAT I HAVE REVIEWED EACH SECTION OF
 THIS FORM AND  UNDERSTAND  THE  OWNERSHIP  RIGHTS  ASSOCIATED  WITH  THE
 ACCOUNT SELECTIONS ABOVE. I HAVE MARKED THE TYPE OF ACCOUNT I WANT.
 A. 9230--A                          3
 
 ACCOUNT OWNER SIGNATURE ________________________________ DATE ________
 
 BY  SIGNING  BELOW,  I  ACKNOWLEDGE THAT I HAVE REVIEWED EACH SECTION OF
 THIS FORM AND  UNDERSTAND  THE  OWNERSHIP  RIGHTS  ASSOCIATED  WITH  THE
 ACCOUNT  SELECTIONS  ABOVE. AS AN AUTHORIZED SIGNER, I UNDERSTAND THAT I
 DO NOT OWN THE FUNDS IN THIS ACCOUNT AND HAVE NO RIGHT TO USE SUCH FUNDS
 FOR MY PERSONAL BENEFIT OR TO TAKE POSSESSION  OF  SUCH  FUNDS  UPON  AN
 ACCOUNT OWNER'S DEATH.

 AUTHORIZED SIGNER(S) SIGNATURE  ________________________ DATE _______
 
   (E)  "AUTHORIZED  SIGNER"  MEANS  A  PERSON AUTHORIZED TO MAKE ACCOUNT
 TRANSACTIONS FOR THE CONVENIENCE OF AN ACCOUNT OWNER BUT  WHO  DOES  NOT
 OWN THE ACCOUNT AND HAS NO BENEFICIAL RIGHT TO SUMS ON DEPOSIT.
   (F)  "AUTHORIZED  SIGNER  DESIGNATION"  MEANS  THE  DESIGNATION  OF AN
 AUTHORIZED SIGNER IN AN ACCOUNT  PAYABLE  ON  REQUEST  TO  ONE  OR  MORE
 ACCOUNT OWNERS.
   (G)  "CONTRACT  OF  DEPOSIT" MEANS A WRITTEN DOCUMENT ESTABLISHING THE
 TERMS OF AN ACCOUNT BETWEEN A BANK AND ONE OR MORE ACCOUNT OWNERS.
   (H) "DISTRIBUTEE" MEANS A DISTRIBUTEE AS DEFINED IN SECTION  1-2.5  OF
 THE ESTATES, POWERS AND TRUSTS LAW.
   (I)  "MULTIPLE-OWNER  ACCOUNT"  MEANS AN ACCOUNT PAYABLE ON REQUEST TO
 TWO OR MORE ACCOUNT OWNERS.
   (J) "MULTIPLE-PERSON ACCOUNT" MEANS (1) ANY MULTIPLE-OWNER ACCOUNT  OR
 (2) A SINGLE-OWNER ACCOUNT WITH AN AUTHORIZED SIGNER DESIGNATION.
   (K)  "NET CONTRIBUTION" MEANS THE SUM OF DEPOSITS MADE BY OR ON BEHALF
 OF AN ACCOUNT OWNER LESS WITHDRAWALS  MADE  BY  OR  ON  BEHALF  OF  SUCH
 ACCOUNT  OWNER  WHICH  HAVE  NOT  BEEN  PAID TO OR APPLIED TO THE USE OF
 ANOTHER ACCOUNT OWNER AND A PROPORTIONATE SHARE OF ANY CHARGES  DEDUCTED
 FROM  THE  ACCOUNT,  PLUS A PROPORTIONATE SHARE OF ANY INTEREST OR DIVI-
 DENDS EARNED, WHETHER OR NOT INCLUDED IN THE CURRENT BALANCE. SUCH  TERM
 INCLUDES  ANY DEPOSIT OF LIFE INSURANCE PROCEEDS ADDED TO THE ACCOUNT BY
 REASON OF DEATH OF THE ACCOUNT OWNER WHOSE NET CONTRIBUTION IS IN  QUES-
 TION.
   (L)  "PAYMENT  OF  SUMS  ON  DEPOSIT" OR "PAYMENT" MEANS WITHDRAWAL OR
 PAYMENT TO AN ACCOUNT OWNER, AUTHORIZED SIGNER OR THIRD  PERSON  AUTHOR-
 IZED BY THE ACCOUNT OWNER TO MAKE TRANSACTIONS PURSUANT TO REQUEST.
   (M)  "PERSON"  MEANS  AN  INDIVIDUAL,  A CORPORATION, ORGANIZATION, OR
 OTHER LEGAL ENTITY.
   (N) "PERSONAL  REPRESENTATIVE"  MEANS  A  PERSONAL  REPRESENTATIVE  AS
 DEFINED IN SECTION 2-1.13 OF THE ESTATES, POWERS AND TRUSTS LAW.
   (O) "RECEIVE", AS IT RELATES TO NOTICE TO A BANK, MEANS RECEIPT IN THE
 OFFICE OR BRANCH OFFICE OF THE BANK IN WHICH THE ACCOUNT IS ESTABLISHED.
   (P)  "REQUEST" MEANS A REQUEST FOR PAYMENT COMPLYING WITH ALL TERMS OF
 THE ACCOUNT AND ACCOUNT SIGNATURE CARD, INCLUDING  SPECIAL  REQUIREMENTS
 CONCERNING NECESSARY SIGNATURES AND REGULATION OF THE BANK.
   (Q)  "SINGLE-OWNER ACCOUNT" MEANS AN ACCOUNT PAYABLE ON REQUEST TO ONE
 ACCOUNT OWNER.
   (R) "SUMS ON DEPOSIT"  MEANS  THE  BALANCE  PAYABLE  ON  THE  ACCOUNT,
 INCLUDING  INTEREST AND DIVIDENDS EARNED, WHETHER OR NOT INCLUDED IN THE
 CURRENT BALANCE AND ANY DEPOSIT OF LIFE INSURANCE PROCEEDS ADDED TO  THE
 ACCOUNT BY REASON OF DEATH OF AN ACCOUNT OWNER.
   (S)  "TERMS  OF  THE ACCOUNT" MEANS THE CONTRACT OF DEPOSIT, INCLUDING
 THE ACCOUNT SIGNATURE CARD, AND ANY OTHER TERMS AND  CONDITIONS  OF  THE
 DEPOSIT AGREEMENT.
 A. 9230--A                          4
 
   (T)  "TESTAMENTARY  BENEFICIARY"  MEANS  A TESTAMENTARY BENEFICIARY AS
 DEFINED IN SECTION 1-2.18 OF THE ESTATES, POWERS AND TRUSTS LAW.
   2.  SCOPE  OF SECTION. (A) THIS SECTION SHALL APPLY TO MULTIPLE-PERSON
 AND SINGLE-OWNER ACCOUNTS ESTABLISHED IN NEW  YORK  STATE  FOR  PERSONAL
 USE.
   (B) THIS SECTION SHALL NOT APPLY TO:
   (I)  AN ACCOUNT ESTABLISHED FOR A PARTNERSHIP, JOINT VENTURE, OR OTHER
 ORGANIZATION FOR A BUSINESS PURPOSE;
   (II) AN ACCOUNT CONTROLLED BY ONE OR MORE PERSONS AS AN AGENT OR TRUS-
 TEE FOR A CORPORATION,  UNINCORPORATED  ASSOCIATION,  OR  CHARITABLE  OR
 CIVIC ORGANIZATION; OR
   (III) A FIDUCIARY OR TRUST ACCOUNT IN WHICH THE RELATIONSHIP IS ESTAB-
 LISHED OTHER THAN BY THE TERMS OF THE ACCOUNT.
   3.  TYPES  OF  ACCOUNTS. (A) A BANK MAY ENTER A CONTRACT OF DEPOSIT TO
 ESTABLISH A SINGLE-OWNER ACCOUNT OR A  MULTIPLE-OWNER  ACCOUNT  AND  MAY
 PROVIDE  FOR  ONE OR MORE AUTHORIZED SIGNER DESIGNATIONS IN EACH TYPE OF
 ACCOUNT. A MULTIPLE-OWNER ACCOUNT MAY BE WITH  OR  WITHOUT  A  RIGHT  OF
 SURVIVORSHIP BETWEEN THE OTHER ACCOUNT OWNERS.
   (B)  AN  ACCOUNT  ESTABLISHED AFTER THE EFFECTIVE DATE OF THIS SECTION
 SHALL BE CONSIDERED EITHER A SINGLE-OWNER ACCOUNT  OR  A  MULTIPLE-OWNER
 ACCOUNT,  WITH OR WITHOUT THE RIGHT OF SURVIVORSHIP, AND WITH OR WITHOUT
 ONE OR MORE AUTHORIZED SIGNER DESIGNATIONS.
   4. ADMINISTRATION OF ACCOUNT SIGNATURE CARD. (A) THE ACCOUNT SIGNATURE
 CARD SHALL ESTABLISH THE TYPE OF ACCOUNT  PROVIDED,  AND  SUCH  ACCOUNTS
 SHALL  BE  GOVERNED BY THE PROVISIONS OF THIS SECTION APPLICABLE TO SUCH
 ACCOUNT TYPE.
   (B) THE ACCOUNT SIGNATURE CARD SHALL BE ADMINISTERED BY THE BANK  UPON
 THE  ESTABLISHMENT  OF AN ACCOUNT AND THEREAFTER IF THE ACCOUNT OWNER OR
 OWNERS CHANGE THE TERMS OF SUCH ACCOUNT.
   (C) ALL ACCOUNT OWNERS ON A MULTIPLE-OWNER ACCOUNT MUST AGREE IN WRIT-
 ING TO ANY CHANGE IN THE TERMS OF AN ACCOUNT RELATING TO ACCOUNT  OWNER-
 SHIP, SURVIVORSHIP RIGHTS, AND AUTHORIZED SIGNERS DESIGNATIONS USING THE
 ACCOUNT SIGNATURE CARD.
   (D) THE ACCOUNT SIGNATURE CARD SHALL BE SIGNED AND ACKNOWLEDGED BEFORE
 A  NOTARY  PUBLIC  UNLESS ADMINISTERED BY A BANK OR FILED ELECTRONICALLY
 PURSUANT TO SECTION ONE HUNDRED THIRTY-FIVE-C OF THE EXECUTIVE  LAW  AND
 ARTICLE  THREE  OF  THE STATE TECHNOLOGY LAW AND SHALL COMPLY WITH OTHER
 STATE LAWS AND REGULATIONS.
   (E) EACH BANK SUBJECT TO  THIS  SECTION  SHALL  MAINTAIN  THE  ACCOUNT
 SIGNATURE CARD FOR EACH ACCOUNT AS LONG AS SUCH ACCOUNT REMAINS OPEN AND
 FOR A PERIOD OF NO LESS THAN SIX YEARS AFTER IT IS CLOSED.
   5.  DESIGNATION  OF AUTHORIZED SIGNER. (A) THE ACCOUNT OWNER OR OWNERS
 MAY USE THE ACCOUNT SIGNATURE CARD TO  DESIGNATE  A  PERSON  OR  PERSONS
 OTHER THAN AN ACCOUNT OWNER AS AN AUTHORIZED SIGNER.
   (B)  IN  A  MULTIPLE-OWNER ACCOUNT, ALL ACCOUNT OWNERS MUST CONSENT TO
 ANY AUTHORIZED SIGNER DESIGNATION IN WRITING USING THE ACCOUNT SIGNATURE
 CARD.
   (C) UNLESS THERE IS CLEAR  AND  CONVINCING  EVIDENCE  OF  A  DIFFERENT
 INTENT, AN AUTHORIZED SIGNER'S AUTHORITY SHALL SURVIVE THE DISABILITY OR
 INCAPACITY  OF  AN  ACCOUNT OWNER.   THE AUTHORIZED SIGNER MAY ACT FOR A
 DISABLED OR INCAPACITATED ACCOUNT  OWNER  UNTIL  THE  AUTHORITY  OF  THE
 AUTHORIZED SIGNER IS TERMINATED.
   (D)  DEATH  OF  THE SOLE ACCOUNT OWNER OR LAST SURVIVING ACCOUNT OWNER
 SHALL TERMINATE THE AUTHORITY OF AN AUTHORIZED SIGNER.
   6. ACCOUNT OWNERSHIP DURING LIFETIME. (A) IN A MULTIPLE-OWNER ACCOUNT,
 DURING THE LIFETIMES OF ALL ACCOUNT OWNERS, AN ACCOUNT  BELONGS  TO  THE
 A. 9230--A                          5
 
 ACCOUNT OWNERS IN PROPORTION TO THE NET CONTRIBUTION OF EACH TO THE SUMS
 ON DEPOSIT, UNLESS THERE IS CLEAR AND CONVINCING EVIDENCE OF A DIFFERENT
 INTENT.  IN THE ABSENCE OF PROOF OTHERWISE, THE NET CONTRIBUTION OF EACH
 IS PRESUMED TO BE AN EQUAL AMOUNT.
   (B)  AN  AUTHORIZED  SIGNER  SHALL HAVE NO BENEFICIAL RIGHT TO SUMS ON
 DEPOSIT.
   7. RIGHTS AT DEATH. (A) RIGHTS  AT  DEATH  OF  AN  ACCOUNT  OWNER  ARE
 DETERMINED  BY  THE  TERMS  OF  THE  ACCOUNT AT THE TIME OF SUCH ACCOUNT
 OWNER'S DEATH.
   (B) A TRANSFER RESULTING FROM THE APPLICATION OF THIS SECTION SHALL BE
 EFFECTIVE BY REASON OF THE  TERMS  OF  THE  ACCOUNT  INVOLVED  AND  THIS
 SECTION AND IS NOT TESTAMENTARY OR SUBJECT TO ESTATE ADMINISTRATION.
   (C)  UNLESS ALL THE ACCOUNT OWNERS HAVE INDICATED A PREFERENCE FOR THE
 RIGHT OF SURVIVORSHIP ON THE ACCOUNT SIGNATURE CARD, OR THERE  IS  CLEAR
 AND  CONVINCING  EVIDENCE  OF  A  DIFFERENT INTENT, UPON THE DEATH OF AN
 ACCOUNT OWNER, SUMS ON DEPOSIT IN  A  MULTIPLE-OWNER  ACCOUNT  SHALL  BE
 DISPOSED OF AS PART OF THE ESTATE OF SUCH DECEASED ACCOUNT OWNER.
   (D) IF TWO OR MORE ACCOUNT OWNERS SURVIVE, AND ALL ACCOUNT OWNERS HAVE
 INDICATED  A  PREFERENCE  FOR  THE  RIGHT OF SURVIVORSHIP ON THE ACCOUNT
 SIGNATURE CARD, UNLESS THERE IS  CLEAR  AND  CONVINCING  EVIDENCE  OF  A
 DIFFERENT  INTENT,  THE AMOUNT TO WHICH THE DECEDENT, IMMEDIATELY BEFORE
 DEATH, WAS BENEFICIALLY ENTITLED, PURSUANT TO SUBDIVISION  SIX  OF  THIS
 SECTION,  SHALL  BELONG TO THE SURVIVING ACCOUNT OWNERS IN EQUAL SHARES,
 AND AUGMENTS THE PROPORTION TO WHICH EACH SURVIVOR,  IMMEDIATELY  BEFORE
 THE  DECEDENT'S  DEATH,  WAS  BENEFICIALLY  ENTITLED TO PURSUANT TO SUCH
 SUBDIVISION, AND THE RIGHT OF SURVIVORSHIP CONTINUES BETWEEN THE SURVIV-
 ING ACCOUNT OWNERS.
   (E) SUMS ON DEPOSIT IN A  SINGLE-OWNER  ACCOUNT  OR  A  MULTIPLE-OWNER
 ACCOUNT THAT, BY THE TERMS OF THE ACCOUNT, IS WITHOUT RIGHT OF SURVIVOR-
 SHIP,  ARE NOT AFFECTED BY THE DEATH OF AN ACCOUNT OWNER, BUT THE AMOUNT
 TO WHICH THE DECEDENT, IMMEDIATELY BEFORE DEATH, WAS BENEFICIALLY  ENTI-
 TLED,  PURSUANT  TO  SUBDIVISION  SIX OF THIS SECTION, IS TRANSFERRED AS
 PART OF THE DECEDENT'S ESTATE.
   (F) THE OWNERSHIP RIGHTS OF A  SURVIVING  ACCOUNT  OWNER,  OR  OF  THE
 DECEDENT'S  ESTATE, IN SUMS ON DEPOSIT IS SUBJECT TO REQUEST FOR PAYMENT
 MADE BY AN ACCOUNT OWNER BEFORE THE ACCOUNT OWNER'S DEATH, WHETHER  PAID
 BY  THE  BANK  BEFORE  OR  AFTER DEATH, OR UNPAID, THE SURVIVING ACCOUNT
 OWNER OR THE DECEDENT'S ESTATE, IS LIABLE TO  THE  PAYEE  OF  AN  UNPAID
 REQUEST  FOR  PAYMENT. THE LIABILITY IS LIMITED TO A PROPORTIONATE SHARE
 OF THE AMOUNT TRANSFERRED UNDER THIS SECTION, TO THE EXTENT NECESSARY TO
 DISCHARGE THE REQUEST FOR PAYMENT.
   8. ALTERATION OF RIGHTS. (A) AN ACCOUNT OWNER MAY ALTER THE  TERMS  OF
 THE  ACCOUNT BY COMPLETING A NEW ACCOUNT SIGNATURE CARD FOR SUCH ACCOUNT
 AND SUBMITTING IT TO THE BANK. TO BE EFFECTIVE, ALL ACCOUNT OWNERS  MUST
 CONSENT  TO  THE ALTERATION IN WRITING USING THE ACCOUNT SIGNATURE CARD,
 AND THE NOTICE MUST BE RECEIVED BY THE BANK DURING  AN  ACCOUNT  OWNER'S
 LIFETIME.
   (B)  A  RIGHT  OF  SURVIVORSHIP  ARISING FROM THE EXPRESS TERMS OF THE
 ACCOUNT ESTABLISHED PURSUANT TO SUBDIVISION SEVEN OF  THIS  SECTION  MAY
 NOT BE ALTERED BY WILL.
   9.  PAYMENT  ON  MULTIPLE-OWNER  ACCOUNTS. A BANK, ON REQUEST, MAY PAY
 SUMS ON DEPOSIT IN A MULTIPLE-OWNER ACCOUNT TO:
   (A) ONE OR MORE OF THE ACCOUNT OWNERS, WHETHER OR NOT ANOTHER  ACCOUNT
 OWNER  IS DISABLED, INCAPACITATED, OR DECEASED WHEN PAYMENT IS REQUESTED
 AND WHETHER OR NOT THE ACCOUNT OWNER MAKING THE REQUEST SURVIVES ANOTHER
 ACCOUNT OWNER; OR
 A. 9230--A                          6
 
   (B) THE PERSONAL REPRESENTATIVE OF AN ACCOUNT OWNER WHO  IS  DECEASED,
 OR  IF  THERE IS NONE, PURSUANT TO THE PROVISIONS OF ARTICLE THIRTEEN OF
 THE SURROGATE'S COURT PROCEDURE ACT TO THE EXTENT  APPLICABLE,  PROVIDED
 THAT IN EITHER CASE PROOF OF DEATH IS PRESENTED TO THE BANK SHOWING THAT
 SUCH DECEASED ACCOUNT OWNER WAS THE SURVIVOR OF ALL OTHER ACCOUNT OWNERS
 NAMED  ON  THE ACCOUNT, UNLESS THE ACCOUNT IS WITHOUT RIGHT OF SURVIVOR-
 SHIP PURSUANT TO SUBDIVISION SEVEN OF THIS SECTION.
   10. PAYMENT TO AUTHORIZED SIGNER. A BANK, ON REQUEST, MAY PAY SUMS  ON
 DEPOSIT  IN  AN  ACCOUNT  WITH  AN AUTHORIZED SIGNER DESIGNATION TO SUCH
 AUTHORIZED SIGNER WHETHER OR NOT AN ACCOUNT OWNER IS DISABLED, INCAPACI-
 TATED, OR DECEASED WHEN THE REQUEST IS MADE OR RECEIVED, AND WHETHER  OR
 NOT  THE AUTHORITY OF THE AUTHORIZED SIGNER TERMINATES ON THE DISABILITY
 OR INCAPACITY OF AN ACCOUNT OWNER.
   11. DISCHARGE OF BANK FROM LIABILITY. (A)  PAYMENT  MADE  PURSUANT  TO
 THIS  SECTION  IN ACCORDANCE WITH THE TERMS OF THE ACCOUNT AND COMPLYING
 WITH THE ACCOUNT SIGNATURE CARD DISCHARGES THE BANK FROM ALL CLAIMS  FOR
 AMOUNTS SO PAID, WHETHER OR NOT THE PAYMENT IS CONSISTENT WITH THE BENE-
 FICIAL  ACCOUNT  OWNERSHIP  OF  THE ACCOUNT AS BETWEEN ACCOUNT OWNERS OR
 THEIR SUCCESSORS.  PAYMENT MAY BE MADE WHETHER OR NOT AN  ACCOUNT  OWNER
 OR  AUTHORIZED  SIGNER  IS  DISABLED,  INCAPACITATED,  OR  DECEASED WHEN
 PAYMENT IS REQUESTED, RECEIVED, OR MADE.
   (B) PROTECTION UNDER THIS SECTION DOES NOT  EXTEND  TO  PAYMENTS  MADE
 AFTER  A BANK HAS RECEIVED WRITTEN NOTICE FROM AN ACCOUNT OWNER, OR FROM
 THE PERSONAL REPRESENTATIVE, SURVIVING SPOUSE, DISTRIBUTEE, OR TESTAMEN-
 TARY BENEFICIARY OF  A  DECEASED  ACCOUNT  OWNER,  TO  THE  EFFECT  THAT
 PAYMENTS  IN  ACCORDANCE  WITH  THE  TERMS OF THE ACCOUNT, INCLUDING ONE
 HAVING AN AUTHORIZED SIGNER DESIGNATION, SHOULD NOT  BE  PERMITTED,  AND
 THE  BANK HAS HAD A REASONABLE OPPORTUNITY TO ACT ON IT WHEN THE PAYMENT
 IS MADE. UNLESS THE NOTICE IS WITHDRAWN BY THE  PERSON  GIVING  IT,  THE
 SUCCESSOR  OF  ANY  DECEASED  ACCOUNT OWNER MUST CONCUR IN A REQUEST FOR
 PAYMENT IF THE BANK IS TO BE PROTECTED UNDER THIS SECTION. UNLESS A BANK
 HAS BEEN SERVED WITH PROCESS IN AN ACTION OR PROCEEDING, NO OTHER NOTICE
 OR OTHER INFORMATION SHOWN TO HAVE BEEN AVAILABLE TO  THE  BANK  AFFECTS
 ITS RIGHT TO PROTECTION UNDER THIS SECTION.
   (C)  A  BANK  THAT RECEIVES WRITTEN NOTICE PURSUANT TO THIS SECTION OR
 OTHERWISE HAS REASON TO BELIEVE THAT A DISPUTE EXISTS AS TO  THE  RIGHTS
 OF THE ACCOUNT OWNERS MAY REFUSE, WITHOUT LIABILITY, TO MAKE PAYMENTS IN
 ACCORDANCE  WITH THE TERMS OF THE ACCOUNT. A BANK NEED NOT INQUIRE AS TO
 THE SOURCE OF A DEPOSIT TO AN ACCOUNT OR AS TO THE PROPOSED  APPLICATION
 OF A PAYMENT FROM AN ACCOUNT.
   (D) PROTECTION OF A BANK UNDER THIS SECTION DOES NOT AFFECT THE RIGHTS
 OF  ACCOUNT  OWNERS  IN  DISPUTES BETWEEN THEMSELVES OR THEIR SUCCESSORS
 CONCERNING THE OWNERSHIP OF SUMS ON DEPOSIT IN ACCOUNTS OR PAYMENTS MADE
 FROM ACCOUNTS.
   (E) BENEFICIAL ACCOUNT OWNERSHIP BETWEEN ACCOUNT OWNERS APPLY ONLY  TO
 CONTROVERSIES  BETWEEN  THOSE  PERSONS  AND  THEIR  CREDITORS  AND OTHER
 SUCCESSORS, AND DO NOT APPLY THE RIGHT OF THOSE PERSONS  TO  PAYMENT  AS
 DETERMINED BY THE TERMS OF THE ACCOUNT.
   12.  EXISTING  ACCOUNTS.  EACH  BANK  SHALL,  FOR EACH MULTIPLE-PERSON
 ACCOUNT ESTABLISHED BEFORE THE EFFECTIVE DATE OF  THIS  SECTION,  NOTIFY
 THE  ACCOUNT  OWNERS OF SUCH ACCOUNTS ABOUT THE REQUIREMENT TO SUBMIT AN
 ACCOUNT SIGNATURE CARD WITHIN ONE YEAR FROM THE EFFECTIVE DATE  OF  THIS
 SECTION.  SUCH  BANK  SHALL  PROVIDE EACH ACCOUNT OWNER WITH THE ACCOUNT
 SIGNATURE CARD AS PART OF SUCH NOTICE. SUCH NOTICE MAY  BE  EXECUTED  BY
 MAIL  OR,  IF  AUTHORIZED BY ACCOUNT OWNER OR OWNERS, ELECTRONICALLY. IF
 THE BANK HAS NOT RECEIVED AN ACCOUNT  SIGNATURE  CARD  FROM  AN  ACCOUNT
 A. 9230--A                          7
 
 OWNER  WITHIN SIX MONTHS OF THE EFFECTIVE DATE OF THIS SECTION, THE BANK
 SHALL PROVIDE A SECOND NOTICE.
   13.  REGULATIONS  OF  THE  SUPERINTENDENT.  THE  SUPERINTENDENT  SHALL
 PROMULGATE AND MAY FROM TIME TO TIME AMEND RULES AND  REGULATIONS  WHICH
 REQUIRE  THAT  THE  ACCOUNT OWNER OR OWNERS OF A MULTIPLE-PERSON ACCOUNT
 UNDER THIS SECTION BE INFORMED   OF THE   TERMS AND  CONDITIONS  OF  THE
 ACCOUNT, INCLUDING THE RELATIONSHIP AND CONSEQUENCES BETWEEN THE PERSONS
 ASSOCIATED  WITH THE ACCOUNT, THE DIFFERENCES BETWEEN ACCOUNT TYPES, AND
 THE RESPONSIBILITIES OF THE INSTITUTION WITH WHICH THE ACCOUNT IS ESTAB-
 LISHED.
   14. SEVERABILITY CLAUSE. IF ANY  PROVISION  OF  THIS  SECTION  OR  ITS
 APPLICATION TO ANY PERSON OR CIRCUMSTANCE IS HELD INVALID, THE INVALIDI-
 TY DOES NOT AFFECT OTHER PROVISIONS OR APPLICATION OF THIS SECTION WHICH
 CAN  BE  GIVEN  EFFECT WITHOUT THE INVALID PROVISION OR APPLICATION, AND
 TO THIS END THE PROVISIONS OF THIS SECTION ARE SEVERABLE.
   § 3. Section 679 of the banking law, as added by chapter  432  of  the
 laws of 2018, is amended to read as follows:
   §  679.  Public  awareness; banking services. The superintendent shall
 conduct a public awareness campaign to educate  consumers  on  different
 banking  services  available  in  the state, particularly those that can
 assist vulnerable adults  in  financial  planning,  including,  but  not
 limited  to,  citizens of an advanced age, individuals with cognitive or
 developmental disabilities, or those who have health or physical  issues
 that  impair their financial independence. The public awareness campaign
 shall include information regarding the  differences  between  types  of
 accounts, including joint and [convenience] MULTIPLE-PERSON accounts, as
 well  as  the rights and responsibilities generally recognized for each.
 The public awareness campaign shall also include, but not be limited to,
 answers to general concerns and questions that individuals may have with
 respect to the establishment of certain types of accounts and  services,
 as  well  as information and recommendations for obtaining more informa-
 tion.
   § 4. This act shall take effect on the one hundred eightieth day after
 it shall have become a law. Effective immediately, the addition,  amend-
 ment and/or repeal of any rule or regulation necessary for the implemen-
 tation  of  this act on its effective date are authorized to be made and
 completed on or before such effective date.