81-12-141 - Accounts of deceased nonresidents.
§ 81-12-141. Accounts of deceased nonresidents.
When an account is held in any association by a person residing in another state or country, the account, or any part thereof not in excess of Two Thousand Five Hundred Dollars ($2,500.00), may be paid to the administrator or executor appointed in the state or country where the account holder resides at the time of death, provided such administrator or executor has furnished the association with (a) authenticated copies of his letters and of the order of the court which issued the letters to him authorizing him to collect, receive and remove the personal estate, and (b) an affidavit by the administrator or executor that to his knowledge no letters are then outstanding in this state and no petition for letters by an heir, legatee, devisee or creditor of the decedent is pending on the estate in this state, and that there are no creditors of the estate in this state. Upon payment or delivery to such representative after receipt of the affidavit and authenticated copies, the association is released and discharged to the same extent as if the payment or delivery had been made to a legally qualified resident executor or administrator, and is not required to see to the application or disposition of the property. No action at law or in equity shall be maintained against the association for payment made in accordance with the above provisions.
Sources: Laws, 1977, ch. 445, § 38; Laws, 1980, ch. 426, § 2; reenacted, 1982, ch. 301, § 71; Laws, 1990 Ex Sess, ch. 52, § 72; Laws, 1993, ch. 441, § 72; Laws, 1994, ch. 622, § 104; eenacted without change, Laws, 1997, ch. 496, § 69; reenacted without change, Laws, 2001, ch. 488, § 71, eff from and after July 1, 2001.