Stanley v. Stanley

BARBERA, Judge.

We are presented with the opportunity to examine the “Multiple-party account” provision of the Financial Institutions Article. Md.Code (1980, 2003 Repl. Vol.), § 1-204 of the Financial Institutions Article (“FI”). FI § 1-204 was enacted in 1992 to resolve uncertainties in the common law concerning ownership of funds residing in a multiple-party account upon the death of the account holder. To date, no reported decision of this Court or the Court of Appeals has construed the statute.

This case involves ownership of the funds in five multiple-party bank accounts that were…