Any transfers resulting from the application of section 18 of this chapter are:

1. (1) effective by reason of:

   1. (A) the account contracts involved; and
   2. (B) this chapter; and

2. (2) not to be considered as:

   1. (A) testamentary; or

   2. (B) subject to IC 29 .

      [Pre-2002 Recodification Citation: 32-4-1.5-6.]

As added by P.L.2-2002, SEC.2.