{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/6.2-1176.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/6.2-1176.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/6.2-1176.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/6.2-1176.html"}],"law_id":57143,"edition_id":1,"section_id":57143,"structure_id":14436,"section_number":"6.2-1176","catch_line":"Accounts of fiduciaries","history":"1985, c. 425, \u00a7 6.1-194.59; 2010, c. 794.","full_text":"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.","order_by":null,"text":{"0":{"id":209270,"text":"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.","type":"section","prefixes":[""],"prefix":"","entire_prefix":"","prefix_anchor":"","level":1}},"ancestry":[{"id":14436,"edition_id":1,"name":"Accounts","identifier":"6","label":"article","depth":4,"order_by":1,"parent_id":13490,"metadata":{},"date_created":"2026-06-26 03:48:08","date_modified":"2026-06-26 03:48:08","permalink":{"id":264377,"object_type":"structure","relational_id":14436,"identifier":"6","token":"6.2\/II\/11\/6","url":"\/6.2\/II\/11\/6\/","edition_id":1,"permalink":0,"preferred":1}},{"id":13490,"edition_id":1,"name":"Savings Institutions","identifier":"11","label":"chapter","depth":3,"order_by":1,"parent_id":13000,"metadata":{},"date_created":"2026-06-26 03:45:01","date_modified":"2026-06-26 03:45:01","permalink":{"id":264101,"object_type":"structure","relational_id":13490,"identifier":"11","token":"6.2\/II\/11","url":"\/6.2\/II\/11\/","edition_id":1,"permalink":0,"preferred":1}},{"id":13000,"edition_id":1,"name":"Depository Institutions and Trust Organizations","identifier":"II","label":"subtitle","depth":2,"order_by":1,"parent_id":12852,"metadata":{},"date_created":"2026-06-26 03:44:07","date_modified":"2026-06-26 03:44:07","permalink":{"id":263685,"object_type":"structure","relational_id":13000,"identifier":"II","token":"6.2\/II","url":"\/6.2\/II\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12852,"edition_id":1,"name":"Financial Institutions and Services","identifier":"6.2","label":"title","depth":1,"order_by":1,"parent_id":null,"metadata":{},"date_created":"2026-06-26 03:43:56","date_modified":"2026-06-26 03:43:56","permalink":{"id":263249,"object_type":"structure","relational_id":12852,"identifier":"6.2","token":"6.2","url":"\/6.2\/","edition_id":1,"permalink":0,"preferred":1}}],"structure_contents":[{"id":60070,"structure_id":14436,"section_number":"6.2-1166","catch_line":"Accounts of state savings institutions","url":"\/6.2-1166\/","token":"6.2\/II\/11\/6\/6.2-1166","metadata":false},{"id":72669,"structure_id":14436,"section_number":"6.2-1167","catch_line":"Rules governing withdrawal","url":"\/6.2-1167\/","token":"6.2\/II\/11\/6\/6.2-1167","metadata":false},{"id":72950,"structure_id":14436,"section_number":"6.2-1168","catch_line":"Redemption","url":"\/6.2-1168\/","token":"6.2\/II\/11\/6\/6.2-1168","metadata":false},{"id":67289,"structure_id":14436,"section_number":"6.2-1169","catch_line":"Accounts of savings institutions as legal investments and as security","url":"\/6.2-1169\/","token":"6.2\/II\/11\/6\/6.2-1169","metadata":false},{"id":69447,"structure_id":14436,"section_number":"6.2-1170","catch_line":"Deposits of federal taxes and U.S. Treasury tax and loan accounts","url":"\/6.2-1170\/","token":"6.2\/II\/11\/6\/6.2-1170","metadata":false},{"id":75969,"structure_id":14436,"section_number":"6.2-1171","catch_line":"Accounts under federal Self-Employed Individuals Tax Retirement Act and federal Employee Retirement Income Security Act of 1974 (P.L. 93-406, 88 Stat. 829)","url":"\/6.2-1171\/","token":"6.2\/II\/11\/6\/6.2-1171","metadata":false},{"id":76647,"structure_id":14436,"section_number":"6.2-1172","catch_line":"Accounts issued in name of minor","url":"\/6.2-1172\/","token":"6.2\/II\/11\/6\/6.2-1172","metadata":false},{"id":55801,"structure_id":14436,"section_number":"6.2-1173","catch_line":"Powers of attorney on accounts","url":"\/6.2-1173\/","token":"6.2\/II\/11\/6\/6.2-1173","metadata":false},{"id":73540,"structure_id":14436,"section_number":"6.2-1174","catch_line":"Accounts of deceased or incompetent persons","url":"\/6.2-1174\/","token":"6.2\/II\/11\/6\/6.2-1174","metadata":false},{"id":86347,"structure_id":14436,"section_number":"6.2-1175","catch_line":"Repealed","url":"\/6.2-1175\/","token":"6.2\/II\/11\/6\/6.2-1175","metadata":false},{"id":57143,"structure_id":14436,"section_number":"6.2-1176","catch_line":"Accounts of fiduciaries","url":"\/6.2-1176\/","token":"6.2\/II\/11\/6\/6.2-1176","metadata":false},{"id":58219,"structure_id":14436,"section_number":"6.2-1177","catch_line":"Savings institution need not inquire as to fiduciary funds deposited in fiduciary's personal account","url":"\/6.2-1177\/","token":"6.2\/II\/11\/6\/6.2-1177","metadata":false},{"id":66743,"structure_id":14436,"section_number":"6.2-1178","catch_line":"Accounts held by various trustees for same beneficiary","url":"\/6.2-1178\/","token":"6.2\/II\/11\/6\/6.2-1178","metadata":false}],"previous_section":{"id":86347,"structure_id":14436,"section_number":"6.2-1175","catch_line":"Repealed","url":"\/6.2-1175\/","token":"6.2\/II\/11\/6\/6.2-1175","metadata":false},"next_section":{"id":58219,"structure_id":14436,"section_number":"6.2-1177","catch_line":"Savings institution need not inquire as to fiduciary funds deposited in fiduciary's personal account","url":"\/6.2-1177\/","token":"6.2\/II\/11\/6\/6.2-1177","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/6.2-1176\/","history_text":"<p>This law was first created in 1985. The record of its establishment is cataloged in chapter 425 of that year\u2019s edition of \u201cActs of Assembly,\u201d the annual state publication listing all changes made to the Code of Virginia in that year. Unfortunately, the 1985 \u201cActs\u201d aren\u2019t available online. It has been modified 1 time. Those modifications are cataloged by \u201cThe Acts of Assembly,\u201d a state publication, by year and chapter. Those modifications that can be read on the General Assembly\u2019s website will be linked accordingly. That modification is as follows: in 2010, chapter <a href=\"https:\/\/legacylis.virginia.gov\/cgi-bin\/legp604.exe?101+ful+CHAP0794\">794<\/a>.<\/p>","references":false,"refers_to":false,"permalink":{"id":264419,"object_type":"law","relational_id":57143,"identifier":"6.2-1176","token":"6.2\/II\/11\/6\/6.2-1176","url":"\/6.2-1176\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/6.2-1176\/","token":"6.2\/II\/11\/6\/6.2-1176","dublin_core":{"Title":"Accounts of fiduciaries","Type":"Text","Format":"text\/html","Identifier":"\u00a7 6.2-1176","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t<section><p>A <span class=\"dictionary\">savings institution<\/span> may <span class=\"dictionary\">issue<\/span> <span class=\"dictionary\">accounts<\/span> 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 <span class=\"dictionary\">account<\/span> pursuant to a check or other written <span class=\"dictionary\">order<\/span> of withdrawal signed by the fiduciary, the delivery of funds in such <span class=\"dictionary\">account<\/span> to such fiduciary, or a receipt signed by any such fiduciary with regard to the payment of funds from such <span class=\"dictionary\">account<\/span>, shall be a valid and sufficient release and discharge of the institution for the payment or delivery so made.<\/p><\/section>","plain_text":"                                 CODE OF VIRGINIA\n\nACCOUNTS OF FIDUCIARIES (\u00a7 6.2-1176)\n\nA savings institution may issue accounts in the name of any administrator,\nexecutor, custodian, conservator, guardian, trustee, or other fiduciary for a\nnamed beneficiary or beneficiaries. The payment of funds from any such account\npursuant to a check or other written order of withdrawal signed by the\nfiduciary, the delivery of funds in such account to such fiduciary, or a receipt\nsigned by any such fiduciary with regard to the payment of funds from such\naccount, shall be a valid and sufficient release and discharge of the\ninstitution for the payment or delivery so made.\n\nHISTORY: 1985, c. 425, \u00a7 6.1-194.59; 2010, c. 794.","edition":{"id":1,"name":"2025","slug":"2025","date_created":"2026-06-21 22:39:22","date_modified":"2026-06-21 22:39:22","current":1,"order_by":1,"last_import":null}}