(a)
The provisions of Section 5302 as to rights of survivorship are determined by the form of the account at the death of a party.
(b)
Once established, the terms of a multiple-party account can be changed only by any of the following methods:
(1)
Closing the account and reopening it under different terms.
(2)
Presenting to the financial institution a modification agreement that is signed by all parties with a present right of withdrawal. If the financial institution has a form for this purpose, it may require use of the form.
(3)
If the provisions of the terms of the account or deposit agreement provide a method of modification of the terms of the account, complying with those provisions.
(4)
As provided in subdivision (c) of Section 5405.
(c)
During the lifetime of a party, the terms of the account may be changed as provided in subdivision (b) to eliminate or to add rights of survivorship. Withdrawal of funds from the account by a party also eliminates rights of survivorship with respect to the funds withdrawn to the extent of the withdrawing party’s net contribution to the account.