Corning Bank v. Rice

George Rose Smith, Justice.

Melvin Rice died intestate in April, 1981, survived by four children. At his death Melvin owned 11 certificates of deposit issued by the Corning Bank, totaling $39,525.08 and payable on Melvin’s death to his brother, the appellee Marlin Rice. A controversy arose between Marlin and Melvin’s administrator, because Melvin had not designated in writing, over his signature, that the CD’s were payable on his death to Marlin, as the statute and cases require. Ark. Stat. Ann. § 67-552 (e) (Repl. 1980); Cook v. Bevill, 246 Ark. 805, 440 S.W.2d 570 (1969); McDonald v. Treat,…