§ 5122. — 5122. (Enacted by Stats. 1990, Ch. 79.)

California § 5122.

• Jurisdiction: California
• Code PROB: Probate Code - PROB
• Div. 5.: DIVISION 5. NONPROBATE TRANSFERS
• Part 2.: PART 2. MULTIPLE-PARTY ACCOUNTS
• Ch. 1.: CHAPTER 1. Short Title and Definitions
• Art. 2.: ARTICLE 2. Definitions

Text

(a)
“Account” means a contract of deposit of funds between a depositor and a financial institution, and includes a checking account, savings account, certificate of deposit, share account, and other like arrangement.
(b)
“Account” does not include:
(1)
An account established for deposit of funds of a partnership, joint venture, or other association for business purposes.
(2)
An account controlled by one or more persons as the duly authorized agent or trustee for a corporation, unincorporated association, or charitable or civic organization.
(3)
A regular fiduciary or trust account where the relationship is established other than by deposit agreement.
(4)
An account established for the deposit of funds of the estate of a ward, conservatee, or decedent.

Legislative History

Enacted by Stats. 1990, Ch. 79.