CODE OF VIRGINIA

FINANCIAL INSTITUTION DUTIES; MULTIPLE-PARTY ACCOUNTS; MULTIPLE-FIDUCIARY
ACCOUNTS (§ 6.2-612)

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application of any sum withdrawn from an account, for purposes of establishing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.

HISTORY: 1979, c. 407, § 6.1-125.9; 2010, c. 794; 2020, c. 259.