Code of Virginia § 6.2-612. Financial institution duties; multiple-party accounts; multiple-fiduciary accounts.
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/va/title-6-2/chapter-6/6-2-612A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
A. Financial institutions may enter into multiple-party accounts to the same extent that they may enter into single-party accounts. Any multiple-party account may be paid, on request, to any one or more of the parties. A financial institution shall not be required to inquire as to the source of funds received for deposit to a multiple-party account, or to inquire as to the proposed application of any sum withdrawn from an account, for purposes of establishing net contributions.
B. Financial institutions may enter into multiple-fiduciary accounts with more than one fiduciary to the same extent that they may enter into fiduciary accounts with one fiduciary. Any multiple-fiduciary account may be paid, on request, to any one or more of the fiduciaries.
1979, c. 407, § 6.1-125.9; 2010, c. 794 ; 2020, c. 259 .