Section 7-1-820. Financial institution protection -- Discharge upon proper payment; notice not to permit withdrawals

   Payment made pursuant to Code Section 7-1-816, 7-1-817, 7-1-818, or 7-1-819 discharges the financial institution from all claims for amounts so paid, whether or not the payment is consistent with the beneficial ownership of the account as between parties, P.O.D. payees, or beneficiaries or their successors. The protection here given does not extend to payments made after a financial institution has received written notice from any party able to request present payment to the effect that withdrawals in accordance with the terms of the account should not be permitted.

Code 1933, § 41A-3811, enacted by Ga. L. 1976, p. 1388, § 8.