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An abbreviation for Payable On Death. A combining form or suffix from Greek, foot; as, decapod, an animal having ten feet; phyllopod, an animal having leaf like feet; myriapod, hexapod.
- n. A bag; a pouch. (Bot.) A capsule of plant, especially a legume; a dry dehiscent fruit. (Zool.) A considerable number of animals closely clustered together; - said of seals. Pod auger, or pod bit, an auger or bit the channel of which is straight instead of twisted.
- vb. To swell; to fill; also, to produce pods.
P.O.D. - Payable On Death. Such designations on bank accounts are not considered valid as they are invalid testamentary dispositions. Ohio law is instructive. t held that this was invalid as a testamentary disposition, and awarded the deposit to the decedent's administrator, and not to his wife.
There are two other decisions in Ohio which are cited as upholding the contention that a bank deposit which is intended to be paid to one of the depositors upon the death of the other is not valid. Schmitt v. Schmitt, 39 Ohio App., 219, 28 O. L. R., 521, 177 N. E., 478, ...
