Chapter 568. Relating to the payment or delivery by banks or other persons or institutions in the District of Columbia of deposits of money and property held in the names of two or more persons, and for other purposes
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Chap. 568: Relating to the payment or delivery by banks or other persons or institutions in the District of Columbia of deposits of money and property held in the names of two or more persons, and for other purposes. Chapter 568 45 Stat. 533 1928-05-15 United States Government Publishing Office text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Digitization Vendor 2025-01-24 70 1 public Chapter 568.— An Act Relating to the payment or delivery by banks or other persons or institutions in the District of Columbia of deposits of money and property held in the names of two or more persons, and for other purposes.
May 15, 1928.[[H. R. 6856](/us/bill/70/hr/6856).][[Public, No. 390](/us/pl/70/390).] *Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled*, District of Columbia.Deposits in banks, or building associations, in the names of two or more persons or either of them. That when a deposit shall have been made or shall hereafter be made in, or any collection item shall have been placed or shall hereafter be placed with, any bank, trust company, savings bank, building association, or other banking institution, including national banks, transacting business in the District of Columbia, or when any shares of stock shall have been issued or shall hereafter be issued by any building association, transacting business in the District of Columbia, in the names of two or more persons, including husband and wife, payable to either, or payable to either or the survivor or survivors, such Payments may be made, etc., to either person whether other living or not. deposit, or in any part thereof, or any interest or dividend thereon, and such collection item or its proceeds, or any interest or dividend thereon, or such shares of stock issued by a building association or any interest or dividend thereon, may be paid or delivered to either of said persons whether the other or others be living or not; and the Release and discharge of bank, etc., for payment or delivery so made. receipt or acquittance of the person to whom such payment or delivery is made shall be a valid, sufficient and complete release and discharge of the bank, trust company, savings bank, building association, or other banking institution, including national banks, for any payment or delivery so made. 534 Sec. 2.Safe deposit box hired from any bank, etc., or property delivered for safe-keeping, in names of two or more persons, with right of access or delivery to either, or survivor.
That when a safety deposit box or vault shall have been hired or shall hereafter be hired from any bank, trust company, savings bank, building association, or other banking institution, including national banks, or any other corporation, transacting business in the District of Columbia, in the names of two or more persons, including husband and wife, with the right of access being given to either, or with access to either or the survivor or survivors of said persons, or property is held for safe-keeping by any such bank, trust company, savings bank, building association, or other corporation or banking institution, including national banks, for two or more persons, including husband and wife, with the right of delivery being given to either, or with the right of delivery to either or the survivor or survivors of said persons, any one or more of such persons, whether the other or others be living or not, shall have the right of access to such safety deposit box or vault and to remove the contents thereof, or any part of such contents, or to have delivered to him or them, Bank, etc., exempt from liability for permitting such access, or delivery to such person or persons. the property so held for safe-keeping, or any part thereof, and in case of such removal or delivery the said bank, trust company, savings bank, building association, or other corporation or banking institution, including national banks, shall be exempt from any liability for permitting such access or removal or for the delivery to such person or persons.
Service of writ of attachment on bank, etc., holding credit or property of two or more persons including one whose property is attached. Sec. 3. Whenever a writ of attachment shall be served on any bank, trust company, savings bank, or other banking institution, including national banks, or on any other corporation, association, or person as garnishee, and such garnishee holds a credit or property for two or more persons, including the person whose credit or property is sought to be attached, or holds a credit or property for any person as agent or trustee or in any other representative capacity No withdrawal, etc., until action of court.without designation of the principal or beneficiary, such credit or property shall not be subject to withdrawal by any person, but shall be held by the garnishee until the attachment shall have been dismissed Payment, etc., upon order of court a complete discharge of bank, etc.or otherwise disposed of by the court.
If the credit or property is condemned, payment or delivery thereof as ordered by the court shall be a complete discharge of the garnishee from all liability Credit or property of partnership not affected.to any person in respect of said credit or property. The provisions of this section shall not be construed to apply to a credit or property of a partnership. Approved, May 15, 1928.
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Chapter 568
Relating to the payment or delivery by banks or other persons or institutions in the District of Columbia of deposits of money and property held in the names of two or more persons, and for other purposes
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