Virginia § 6.2-612 Financial institution duties; multiple-party accounts; multiple-fiduciary accounts

Virginia Statutes

§ 6.2-612 — Financial institution duties; multiple-party accounts; multiple-fiduciary accounts

Virginia § 6.2-612

JurisdictionVirginia

Title 6.2Financial Institutions and Services

Subtitle IIDepository Institutions and Trust Organizations

Ch. 6Deposits and Accounts

Art. 2Multiple-Party Accounts

This text of Virginia § 6.2-612 (Financial institution duties; multiple-party accounts; multiple-fiduciary accounts) is published on Counsel Stack Legal Research, covering Virginia primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Va. Code Ann. § 6.2-612 (2026).

Text

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of funds received for deposit to a multiple-party account, or to inquire as to the proposed application of any sum withdrawn from an account, for purposes of establishing net contributions.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.

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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of funds received for deposit to a multiple-party account, or to inquire as to the proposed application of any sum withdrawn from an account, for purposes of establishing net contributions.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.