§ 6.1-194.57. Accounts of deceased or incompetent persons
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 no longer be liable for the amount thereof to any person whomsoever. 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.
A savings institution which has received no 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's account in accordance with the provisions of the account contract without liability to any person whomsoever for the amounts so paid or delivered.
(Code 1950, §§ 6-201.25, 6.1-152, 6.1-195.28; 1960, c. 402; 1966, c. 584; 1972, c. 796; 1985, c. 425.)
Sections: Previous 6.1-194.50 6.1-194.51 6.1-194.52 6.1-194.53 6.1-194.54 6.1-194.55 6.1-194.56 6.1-194.57 6.1-194.58 6.1-194.59 6.1-194.60 6.1-194.61 6.1-194.62 6.1-194.63 6.1-194.64 NextLast modified: April 2, 2009