§ 26–506.07. Payable on death accounts.

Notwithstanding any other provision of law, a District credit union may establish share and deposit accounts payable to one or more persons during their lifetimes, and upon the death of every included account holder to one or more payable on death payees. A transfer to a payable on death payee is effective by reason of the account contract and shall not be considered a testamentary transfer.