Section 384:35 Pledge of Savings Account in Joint Tenancy. - New Hampshire Statutes

The pledge of any savings account held in joint tenancy or of any joint savings account of the type described in RSA 384:28 and 386:19, when made in writing by any one of the co-depositors or co-owners having the authority to make withdrawals from such account, shall, unless the terms of the savings account provide specifically to the contrary, be a valid pledge and transfer of so much or all of such savings account as may be necessary to secure the collateral obligation for which it is pledged, but such pledge shall not operate to destroy the joint and survivorship character of that portion of such account which is not encumbered by the pledge or which may subsequently be redeemed therefrom. This section shall apply to savings accounts maintained in any institution described in RSA 384:1, or in any federally-chartered institution of like nature having a place of business in this state.

Source. 1961, 136:2. 1965, 114:2. 2002, 232:5, eff. Jan. 1, 2003.