                                 CODE OF VIRGINIA

ADVERSE CLAIMS TO ACCOUNTS (§ 6.2-602)

A. Notice to any financial institution doing business in the Commonwealth of an
adverse claim to funds in an account with such institution shall not require the
institution to recognize the adverse claim unless the adverse claimant shall
either:

   1. Procure a restraining order, injunction, or other appropriate order against
   the financial institution from an appropriate court; or

   2. Execute to such financial institution, in form and with sureties acceptable
   to it, a bond indemnifying the institution from any and all liability, loss,
   damage, costs, and expenses, for and on account of the payment or recognition
   of such adverse claim, or the dishonor of, or failure to pay, any check, or
   failure to comply with any other order, of the person to whose credit the
   account is held.

B. This section shall not affect the provisions of Article 2 (&#xA7; 6.2-604 et
seq.) of this chapter governing multiple-party accounts, and any claim by a
party to such account shall be determined in accordance with the provisions
therein.

C. This section shall not affect any notice of lien pursuant to &#xA7; 8.01-502,
any order of an appropriate court, or the issuance of a notice or other action
issued by a state or federal governmental agency.

HISTORY: 1996, c. 963, § 6.1-2.9:7; 2010, c. 794.