Rhode Island § 19-5-5 § 19-5-5. Shares or deposits held jointly.

Rhode Island Statutes

§ 19-5-5 — § 19-5-5. Shares or deposits held jointly.

Rhode Island § 19-5-5

Title 19Financial institutions

Ch. 19-5Credit Unions

This text of Rhode Island § 19-5-5 (§ 19-5-5. Shares or deposits held jointly.) is published on Counsel Stack Legal Research, covering Rhode Island primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

R.I. Gen. Laws § 19-5-5 (2026).

Text

§ 19-5-5. Shares or deposits held jointly.
Whenever payment for shares or deposits has been made in any credit union in the name
            of two (2) or more persons and payable to either, or any, or the survivor, payment
            of the amount due on the shares or deposits, or any part, or any interest, or dividend
            may be made to any of the persons, whether the other or others are living or not,
            or to the survivor or survivors of them, or to the guardian, executor, or administrator
            of them, and the receipt of the person or persons so paid shall be a valid and sufficient
            release and discharge on account of the payment so made. Nothing in this section authorizes
      

Free access — add to your briefcase to read the full text and ask questions with AI

§ 19-5-5. Shares or deposits held jointly.

Whenever payment for shares or deposits has been made in any credit union in the name of two (2) or more persons and payable to either, or any, or the survivor, payment of the amount due on the shares or deposits, or any part, or any interest, or dividend may be made to any of the persons, whether the other or others are living or not, or to the survivor or survivors of them, or to the guardian, executor, or administrator of them, and the receipt of the person or persons so paid shall be a valid and sufficient release and discharge on account of the payment so made. Nothing in this section authorizes the receipt of savings either in payment for share or on deposit in the name of two (2) or more persons unless at least one of the persons is or becomes a member of the credit union.