678.570 - Multiple-party accounts: Authorization; disbursement of money; limitations. - Nevada Statutes

678.570  Multiple-party accounts: Authorization; disbursement of money; limitations.

      1.  A credit union may enter into multiple-party accounts to the same extent that they may enter into single-party accounts. Any multiple-party account may be paid, on demand, to any one or more of the parties unless the terms of the account expressly stipulate that joint signatures are required.

      2.  A credit union is not required to inquire as to the source of funds received for deposit to a multiple-party account or to inquire as to the proposed application of any sum withdrawn from an account.

      3.  A multiple-party account may be created with any person designated by the credit union member, but a joint tenant shall not be permitted to vote, obtain loans or hold office unless he or she is a qualified member.

      (Added to NRS by 1975, 385)