POD Payee Law and Legal Definition
POD payee is a person designated on a POD account as one to whom the account is payable on request after the death of one or more persons.
The following is an example of a state statute (California) on POD payee:
Cal Prob Code § 5136. A POD payee is a party, by reason of being a POD payee, only after the account becomes payable to the payee by reason of surviving all persons named as original payees.
