SECTIONS 6800-6805 - California Statutes

FINANCIAL CODE

SECTION 6800-6805

6800. An account in an association or federal association that is a
multiple-party account as defined in Section 5132 of the Probate
Code is governed by Part 2 (commencing with Section 5100) of Division
5 of the Probate Code.

6804. No association or federal association paying any survivor in
accordance with Part 2 (commencing with Section 5100) of Division 5
of the Probate Code shall, because of the payment, be liable for any
estate, inheritance, or succession taxes that may be due this state.

6805. The pledge or hypothecation to any association or federal
association of all or part of a multiple party account, as defined in
Section 5132 of the Probate Code, signed by any one or more tenants,
whether minor or adult, upon whose signature or signatures
withdrawals may be made from the account shall, unless the terms of
the account provide specifically to the contrary, be a valid pledge
and transfer to the association or federal association of that part
of the account pledged or hypothecated, and shall not operate to
sever or terminate all or any part of the account.