§ 6.1-225.50:1. Accounts of fiduciaries
A credit union may issue shares and maintain share accounts in the name of any person or entity eligible for membership in such credit union pursuant to § 6.1-225.23 as administrator, executor, custodian, conservator, guardian, trustee or other fiduciary for a named beneficiary or beneficiaries. The payment of funds from any such account pursuant to a share draft or other written order of withdrawal signed by the fiduciary, or 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 credit union for the payment or delivery so made.
(2000, c. 744.)
Sections: Previous 6.1-225.44 6.1-225.45 6.1-225.46 6.1-225.47 6.1-225.48 6.1-225.49 6.1-225.50 6.1-225.50:1 6.1-225.50:2 6.1-225.51 6.1-225.52 6.1-225.53 6.1-225.54 6.1-225.55 6.1-225.56 NextLast modified: April 16, 2009