NOTE: The governor signed this measure on 3/29/2013.
      
      
      HOUSE BILL 13-1016
      
      
      BY REPRESENTATIVE(S) Gardner, Conti, Fields, Gerou, Ginal, Hamner,
      Kagan, Labuda, Landgraf, Lawrence, Lebsock, Lee, McLachlan,
      Mitsch Bush, Moreno, Murray, Pabon, Pettersen, Priola, Scott, Stephens,
      Williams, Wright, Saine;
      also SENATOR(S) Jahn, King, Roberts.
      
      
      Concerning the distribution to beneficiaries of amounts in
           pay-on-death (POD) financial institution accounts pursuant
           to written designation in the records of the financial
           institution.
      
      
      Be it enacted by the General Assembly of the State of Colorado:
      
           SECTION 1.  In Colorado Revised Statutes, 15-15-212, amend (2)
      (b) as follows:
      
           15-15-212.  Rights at death. (2)  In an account with a POD
      designation:
      
           (b) (I)  On death of the sole party or the last survivor of two or more
      parties, sums on deposit belong to the surviving beneficiary or beneficiaries.
      If two or more beneficiaries survive, sums on deposit belong to them in
      such proportions as specified in the POD designation or, if the POD
      designation does not specify different proportions, in equal and
      undivided shares; and there is no right of survivorship in the event of death
      of a beneficiary thereafter.
      
           (II)  If there are two or more beneficiaries, and if any
      beneficiary fails to survive the sole party or the last survivor of
      two or more parties, sums on deposit belong to the surviving
      beneficiaries in proportion to their respective interests as
      beneficiaries under subparagraph (I) of this paragraph (b).
      
           (III)  If no beneficiary survives, sums on deposit belong to the estate
      of the last surviving party.
      
           (IV)  Neither the provisions of section 15-11-706 nor the
      provisions of any other anti-lapse statute apply to the disposition
      of an account with a POD designation.
      
           SECTION 2.  Effective date - applicability. This act takes effect
      upon passage and applies to all accounts with a pay-on-death (POD)
      designation, whether created before or on or after the applicable effective
      date of this act.
      
           SECTION 3.  Safety clause. The general assembly hereby finds,
      determines, and declares that this act is necessary for the immediate
      preservation of the public peace, health, and safety.
      
      
      
      
      ________________________________________________________
      Mark Ferrandino                         John P. Morse
      SPEAKER OF THE HOUSE                     PRESIDENT OF
      OF REPRESENTATIVES                         THE SENATE
      
      
      
      
      
      
      ____________________________  ____________________________
      Marilyn Eddins                      Cindi L. Markwell
      CHIEF CLERK OF THE HOUSE                 SECRETARY OF
      OF REPRESENTATIVES                         THE SENATE
      
      
      
      
                  APPROVED________________________________________
      
      
      
      
      
                                    _________________________________________
                                    John W. Hickenlooper
                                    GOVERNOR OF THE STATE OF COLORADO