Accounts This Article Does Not Cover
Arizona's Uniform TOD Security Registration Act and multi-party account rules provide a streamlined way for account holders to pass funds to survivors or named beneficiaries without probate. But those rules have limits. Certain accounts are excluded entirely because they serve a different purpose or are already governed by other legal frameworks.
This article does not apply to: 1. An account established for any partnership, joint venture or other organization for a business purpose. 2. An account controlled by one or more persons as an agent or trustee for a corporation, unincorporated association or charitable or civic organization. 3. A fiduciary or trust account in which the relationship is established other than by the terms of the account.
A.R.S. § 14-6202Why the Exclusions Matter
The first exclusion covers business accounts. A checking account opened for a partnership or LLC is not a personal multi-party account, even if two people are signers. Business accounts follow business law, not survivorship rules.
The second exclusion applies when someone manages money on behalf of an organization. If a treasurer controls a bank account for a nonprofit or civic group, the account does not belong to that person individually. Adding survivorship or pay-on-death features to that kind of account would not make sense.
The third exclusion addresses fiduciary or trust accounts where the fiduciary relationship comes from somewhere other than the account agreement itself. If a court appointed a conservator, for example, the conservator's authority over the account comes from the court order, not the bank's signature card. Different rules apply.
For personal bank accounts, joint accounts, and pay-on-death arrangements, the rest of this article provides the framework. Understanding which accounts are in and which are out helps avoid confusion during estate settlement.
