1116

LAWS OF MARYLAND

Ch. 282

(ii) May be withdrawn or pledged as security
for a loan by any one of the joint tenants whether or not any
other joint tenant is living.

(2) Payment to or on behalf of a joint tenant who
withdraws money from the account discharges the association for
the withdrawal made.

(b)  Presumption of joint ownership and vesting.

In the absence of fraud or undue influence, a joint account
under this section is a conclusive presumption of the intention
of all parties to create a joint tenancy and to vest title to the
account in any survivors.

(c)  Activity.

Any withdrawal from, or addition or accrual to, a joint
account under this section does not alter the joint tenancy
originally established as to any balance in the account.

9-415. Trust account.

(a)  Payment to beneficiary.

If money is placed in  a savings and loan association in a

revocable trust account     for the benefit of another person, the

association may permit the   beneficiary to withdraw money from the
account if:

(1)  The association has not received notice of terms
of a trust that provide otherwise; and

(2)  There is no living trustee.

(b)  Termination of trust.

A revocable trust account terminates, and the association
may permit the trustee to withdraw the money in the account if:

(1)  The beneficiary has died; and

(2)  The trust account does not provide that the money
in the account is payable to the survivor of the beneficiary.

9-416. Adverse claim to money.

(a) In general.

Except as provided in subsection (b) of this section, a
savings and loan association is not required to recognize or take
any action on any claim to a deposit or to money or property held
by the association or contained in a safe deposit box if that
claim is adverse to the interests of any person who, on its