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<law><site_title>Virginia Decoded</site_title><site_url>https://vacode.org</site_url><law_id>59609</law_id><section_number>6.2-612</section_number><catch_line>Financial institution duties; multiple-party accounts; multiple-fiduciary accounts</catch_line><edition url="https://vacode.org/2025/" slug="2025" current="TRUE" last_updated="">2025</edition><referred_to_by><reference>6.2-605</reference><reference>6.2-616</reference></referred_to_by><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> <span class="dictionary">Financial institutions</span> may enter into <span class="dictionary">multiple-<span class="dictionary">party</span> accounts</span> to the same extent that they may enter into single-<span class="dictionary">party</span> accounts. Any <span class="dictionary">multiple-<span class="dictionary">party</span> account</span> may be paid, on <span class="dictionary">request</span>, to any one or more of the parties. A <span class="dictionary">financial institution</span> shall not be required to inquire as to the source of funds received for deposit to a <span class="dictionary">multiple-<span class="dictionary">party</span> account</span>, or to inquire as to the proposed application of any sum withdrawn from an account, for purposes of establishing net contributions. <a id="paragraph-218334" class="section-permalink" href="https://vacode.org/6.2-612/#A"><i class="fa fa-link"/></a></p></section>
						<section id="B"><p><span class="prefix-number">B.</span> <span class="dictionary">Financial institutions</span> may enter into <span class="dictionary">multiple-<span class="dictionary">fiduciary accounts</span></span> with more than one fiduciary to the same extent that they may enter into <span class="dictionary">fiduciary accounts</span> with one fiduciary. Any <span class="dictionary">multiple-<span class="dictionary">fiduciary account</span></span> may be paid, on <span class="dictionary">request</span>, to any one or more of the fiduciaries. <a id="paragraph-218335" class="section-permalink" href="https://vacode.org/6.2-612/#B"><i class="fa fa-link"/></a></p></section></text><history>1979, c. 407, &#xA7; 6.1-125.9; 2010, c. 794; 2020, c. 259.</history><metadata></metadata></law>
