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Code · Virginia · Title 6.2 · Chapter 11

Code of Virginia § 6.2-1176. Accounts of fiduciaries.

104 words·~1 min read·/va/title-6-2/chapter-11/6-2-1176·

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A savings institution may issue accounts in the name of any administrator, executor, custodian, conservator, guardian, trustee, or other fiduciary for a named beneficiary or beneficiaries. The payment of funds from any such account pursuant to a check or other written order of withdrawal signed by the fiduciary, the delivery of funds in such account to such fiduciary, or a receipt signed by any such fiduciary with regard to the payment of funds from such account, shall be a valid and sufficient release and discharge of the institution for the payment or delivery so made.
1985, c. 425, § 6.1-194.59; 2010, c. 794 .
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