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<law><site_title>Virginia Decoded</site_title><site_url>https://vacode.org</site_url><law_id>60179</law_id><section_number>6.2-605</section_number><catch_line>Applicability</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="6">Deposits and Accounts</unit><unit label="article" level="4" order_by="1" identifier="2">Multiple-Party Accounts</unit></structure><text>
						<section id="A"><p><span class="prefix-number">A.</span> The provisions of &#xA7;&#xA7; <a class="law" title="Ownership during lifetime; garnishment, attachment, or levy" href="/6.2-606/">6.2-606</a>, <a class="law" title="Effect of divorce" href="/6.2-607/">6.2-607</a>, and <a class="law" title="Right of survivorship" href="/6.2-608/">6.2-608</a> concerning beneficial ownership as between parties, or as between parties and P.O.D. payees or beneficiaries of <span class="dictionary">multiple-<span class="dictionary">party</span> accounts</span>, are relevant only to controversies between these <span class="dictionary">persons</span> and their <span class="dictionary">creditors</span> and other successors, and have no bearing on the power of <span class="dictionary">withdrawal</span> of these <span class="dictionary">persons</span> as determined by the terms of <span class="dictionary">account</span> <span class="dictionary">contracts</span>. <a id="paragraph-220164" class="section-permalink" href="https://vacode.org/6.2-605/#A"><i class="fa fa-link"/></a></p></section>
						<section id="B"><p><span class="prefix-number">B.</span> The provisions of &#xA7;&#xA7; <a class="law" title="Financial institution duties; multiple-party accounts; multiple-fiduciary accounts" href="/6.2-612/">6.2-612</a> through <a class="law" title="Setoff by financial institution against account" href="/6.2-617/">6.2-617</a> govern the liability of <span class="dictionary">financial institutions</span> that make payments pursuant thereto, and their set-off rights, but shall have no effect on the beneficial ownership of or the power of <span class="dictionary">withdrawal</span> from the accounts between the parties or P.O.D. payees or beneficiaries of <span class="dictionary">multiple-<span class="dictionary">party</span> accounts</span> and shall have no effect on the fiduciary duties or obligations of fiduciaries under the governing instrument of <span class="dictionary">multiple-<span class="dictionary">fiduciary accounts</span></span>. <a id="paragraph-220165" class="section-permalink" href="https://vacode.org/6.2-605/#B"><i class="fa fa-link"/></a></p></section></text><history>1979, c. 407, &#xA7; 6.1-125.2; 2010, c. 794; 2020, c. 259.</history><metadata></metadata></law>
