§ 6.1-125.15:1. Certain duties of parties to joint bank accounts in financial institutions
Parties to a joint account in a financial institution occupy the relation of principal and agent as to each other, with each standing as a principal in regard to his ownership interest in the joint account and as agent in regard to the ownership interest of the other party. The provisions of §§ 11-9.6 and 37.2-1018 shall apply to such principal/agent relationships. For the purposes of this section, the definition of a joint account in a financial institution, and the ownership interest of the parties therein, are determined in accordance with the provisions of this chapter.
(1996, c. 260.)
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