HRS §560:6-113
Bank set-off for debts on shared accounts
This section lets a bank take money from a shared account to pay a debt one account holder owes the bank, but only up to that person's own share. If the share isn't proven, the bank assumes equal shares. Other legal rights or contracts still apply.
financial institutions
The statute, as written — Financial institution protection; set-off
Without qualifying any other statutory right to set-off or lien and subject to any contractual provision, if a party to a multiple-party account is indebted to a financial institution, the financial institution has a right to set-off against the account in which the party has or had immediately before the party's death a present right of withdrawal. The amount of the account subject to set-off is the deceased party's net contribution to the account, and in the absence of proof of net contributions, to an equal share with all parties having present rights of withdrawal.
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