1. An account may be for a single party or multiple parties. A multiple -party account may be with or without a right of survivorship between the parties. Subject to subsection 3 of section 30.1 -31-09, either a single -party account or a multiple -party account may have a P .O.D. designation, an agency designation, or both. 2. An account established before, on, or after the effective date of sections 30.1 -31-02 through 30.1 -31-20, whether in the form prescribed in section 30.1 -31-05 or in any other form, is either a single -party account or a multiple -party account, with or without right of survivorship, and with or without a P.O.D. designation or an agency designation, within the meaning of sections 30.1 -31-02 through 30.1 -31-20, and is governed by sections 30.1-31-02 through 30.1-31-20.
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