{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/6.2-1368.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/6.2-1368.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/6.2-1368.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/6.2-1368.html"}],"law_id":71854,"edition_id":1,"section_id":71854,"structure_id":13647,"section_number":"6.2-1368","catch_line":"Accounts of fiduciaries","history":"2000, c. 744, \u00a7 6.1-225.50:1; 2010, c. 794.","full_text":"A credit union may issue shares and maintain share accounts in the name of any person or entity eligible for membership in such credit union pursuant to \u00a7 6.2-1327 as administrator, executor, custodian, conservator, guardian, trustee, or other fiduciary for a named beneficiary. The payment of funds from any such account pursuant to a share draft 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 valid and sufficient release and discharge of the credit union for the payment or delivery so made.","order_by":null,"text":{"0":{"id":258884,"text":"A credit union may issue shares and maintain share accounts in the name of any person or entity eligible for membership in such credit union pursuant to \u00a7 6.2-1327 as administrator, executor, custodian, conservator, guardian, trustee, or other fiduciary for a named beneficiary. The payment of funds from any such account pursuant to a share draft 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 valid and sufficient release and discharge of the credit union for the payment or delivery so made.","type":"section","prefixes":[""],"prefix":"","entire_prefix":"","prefix_anchor":"","level":1}},"ancestry":[{"id":13647,"edition_id":1,"name":"Accounts","identifier":"8","label":"article","depth":4,"order_by":1,"parent_id":13635,"metadata":{},"date_created":"2026-06-26 03:45:28","date_modified":"2026-06-26 03:45:28","permalink":{"id":264821,"object_type":"structure","relational_id":13647,"identifier":"8","token":"6.2\/II\/13\/8","url":"\/6.2\/II\/13\/8\/","edition_id":1,"permalink":0,"preferred":1}},{"id":13635,"edition_id":1,"name":"Credit Unions","identifier":"13","label":"chapter","depth":3,"order_by":1,"parent_id":13000,"metadata":{},"date_created":"2026-06-26 03:45:26","date_modified":"2026-06-26 03:45:26","permalink":{"id":264545,"object_type":"structure","relational_id":13635,"identifier":"13","token":"6.2\/II\/13","url":"\/6.2\/II\/13\/","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":54619,"structure_id":13647,"section_number":"6.2-1358","catch_line":"Share accounts","url":"\/6.2-1358\/","token":"6.2\/II\/13\/8\/6.2-1358","metadata":false},{"id":56262,"structure_id":13647,"section_number":"6.2-1359","catch_line":"Payment for shares; transfers; lien on shares","url":"\/6.2-1359\/","token":"6.2\/II\/13\/8\/6.2-1359","metadata":false},{"id":66098,"structure_id":13647,"section_number":"6.2-1360","catch_line":"Dividends","url":"\/6.2-1360\/","token":"6.2\/II\/13\/8\/6.2-1360","metadata":false},{"id":76027,"structure_id":13647,"section_number":"6.2-1361","catch_line":"Ascertaining value of assets","url":"\/6.2-1361\/","token":"6.2\/II\/13\/8\/6.2-1361","metadata":false},{"id":77351,"structure_id":13647,"section_number":"6.2-1362","catch_line":"Minors' accounts","url":"\/6.2-1362\/","token":"6.2\/II\/13\/8\/6.2-1362","metadata":false},{"id":78357,"structure_id":13647,"section_number":"6.2-1363","catch_line":"Individual retirement accounts and retirement or pension plans","url":"\/6.2-1363\/","token":"6.2\/II\/13\/8\/6.2-1363","metadata":false},{"id":78569,"structure_id":13647,"section_number":"6.2-1364","catch_line":"Acceptance of money under Virginia Uniform Transfers to Minors Act","url":"\/6.2-1364\/","token":"6.2\/II\/13\/8\/6.2-1364","metadata":false},{"id":74989,"structure_id":13647,"section_number":"6.2-1365","catch_line":"Accounts of deceased or incapacitated person","url":"\/6.2-1365\/","token":"6.2\/II\/13\/8\/6.2-1365","metadata":false},{"id":73218,"structure_id":13647,"section_number":"6.2-1366","catch_line":"Repealed","url":"\/6.2-1366\/","token":"6.2\/II\/13\/8\/6.2-1366","metadata":false},{"id":64186,"structure_id":13647,"section_number":"6.2-1367","catch_line":"Application of provisions to federal credit unions","url":"\/6.2-1367\/","token":"6.2\/II\/13\/8\/6.2-1367","metadata":false},{"id":71854,"structure_id":13647,"section_number":"6.2-1368","catch_line":"Accounts of fiduciaries","url":"\/6.2-1368\/","token":"6.2\/II\/13\/8\/6.2-1368","metadata":false},{"id":80853,"structure_id":13647,"section_number":"6.2-1369","catch_line":"Credit union need not inquire as to fiduciary funds used to purchase shares in fiduciary's personal account","url":"\/6.2-1369\/","token":"6.2\/II\/13\/8\/6.2-1369","metadata":false}],"previous_section":{"id":64186,"structure_id":13647,"section_number":"6.2-1367","catch_line":"Application of provisions to federal credit unions","url":"\/6.2-1367\/","token":"6.2\/II\/13\/8\/6.2-1367","metadata":false},"next_section":{"id":80853,"structure_id":13647,"section_number":"6.2-1369","catch_line":"Credit union need not inquire as to fiduciary funds used to purchase shares in fiduciary's personal account","url":"\/6.2-1369\/","token":"6.2\/II\/13\/8\/6.2-1369","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/6.2-1368\/","history_text":"

This law was first created in 2000. The record of its establishment is cataloged in chapter 744<\/a> 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. 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 794<\/a>.<\/p>","references":false,"refers_to":[{"id":59413,"section_number":"6.2-1327","catch_line":"Membership defined; field of membership","order_by":null,"url":"\/6.2-1327\/"}],"permalink":{"id":264863,"object_type":"law","relational_id":71854,"identifier":"6.2-1368","token":"6.2\/II\/13\/8\/6.2-1368","url":"\/6.2-1368\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/6.2-1368\/","token":"6.2\/II\/13\/8\/6.2-1368","dublin_core":{"Title":"Accounts of fiduciaries","Type":"Text","Format":"text\/html","Identifier":"\u00a7 6.2-1368","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

A credit union<\/span> may issue<\/span> shares<\/span> and maintain share accounts<\/span> in the name of any person<\/span> or entity<\/span> eligible for membership in such credit union<\/span> pursuant to \u00a7 6.2-1327<\/a> as administrator, executor, custodian, conservator, guardian, trustee, or other fiduciary for a named beneficiary. The payment of funds from any such account pursuant to a share draft or other written order<\/span> 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 valid and sufficient release and discharge of the credit union<\/span> for the payment or delivery so made.<\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nACCOUNTS OF FIDUCIARIES (\u00a7 6.2-1368)\n\nA credit union may issue shares and maintain share accounts in the name of any\nperson or entity eligible for membership in such credit union pursuant to \u00a7\n6.2-1327 as administrator, executor, custodian, conservator, guardian, trustee,\nor other fiduciary for a named beneficiary. The payment of funds from any such\naccount pursuant to a share draft or other written order of withdrawal signed by\nthe fiduciary, the delivery of funds in such account to such fiduciary, or a\nreceipt signed by any such fiduciary with regard to the payment of funds from\nsuch account, shall be valid and sufficient release and discharge of the credit\nunion for the payment or delivery so made.\n\nHISTORY: 2000, c. 744, \u00a7 6.1-225.50:1; 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}}