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<law><site_title>Virginia Decoded</site_title><site_url>https://vacode.org</site_url><law_id>71854</law_id><section_number>6.2-1368</section_number><catch_line>Accounts of fiduciaries</catch_line><edition url="https://vacode.org/2025/" slug="2025" current="TRUE" last_updated="">2025</edition><structure><unit label="title" level="1" order_by="1" identifier="6.2">Financial Institutions and Services</unit><unit label="subtitle" level="2" order_by="1" identifier="II">Depository Institutions and Trust Organizations</unit><unit label="chapter" level="3" order_by="1" identifier="13">Credit Unions</unit><unit label="article" level="4" order_by="1" identifier="8">Accounts</unit></structure><text>
						<section><p>A <span class="dictionary">credit union</span> may <span class="dictionary">issue</span> <span class="dictionary">shares</span> and maintain <span class="dictionary">share accounts</span> in the name of any <span class="dictionary">person</span> or <span class="dictionary">entity</span> eligible for membership in such <span class="dictionary">credit union</span> pursuant to &#xA7;&#xA0;<a class="law" title="Membership defined; field of membership" href="/6.2-1327/">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 <span class="dictionary">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 <span class="dictionary">credit union</span> for the payment or delivery so made.</p></section></text><history>2000, c. 744, &#xA7; 6.1-225.50:1; 2010, c. 794.</history><metadata></metadata></law>
