                                 CODE OF VIRGINIA

ACCOUNTS OF DECEASED OR INCOMPETENT PERSONS (§ 6.2-1174)

A. A savings institution may pay funds held in the account of a deceased person
or a person under disability to the personal representative, committee,
conservator, guardian, or curator of such person upon proper proof of the
appointment and qualification of such fiduciary. Any savings institution making
such payment shall not thereafter be liable for the amount thereof to any
person. The presentation of a duly certified letter or certificate of
qualification as personal representative or other fiduciary shall be conclusive
proof of the jurisdiction of the court issuing the same.

B. A savings institution that has not received written notice and is not on
actual notice that an account owner is deceased or has been adjudicated
incompetent may pay or deliver funds held in such person&#8217;s account in
accordance with the provisions of the account contract without liability to any
person for the amounts so paid or delivered.

HISTORY: Code 1950, § 6-201.25; 1960, c. 402; 1966, c. 584, § 6.1-152; 1972,
c. 796, § 6.1-195.28; 1985, c. 425, § 6.1-194.57; 2010, c. 794.