6.1-125.16 - (Repealed effective October 1, 2010) Effective date. - Virginia Statutes

§ 6.1-125.16. (Repealed effective October 1, 2010) Effective date.

The provisions of this chapter shall be applicable to all multiple-partyaccounts, in every financial institution in this Commonwealth, on July 1,1980, regardless of when such multiple-party accounts might have been openedor created; provided, however, that nothing herein contained shall affect thecommon-law presumption of convenience now existing between persons notmarried to each other in joint accounts that were created prior to July 1,1980, insofar as the ownership of the funds, whenever deposited, during theirjoint lifetime or their right of survivorship therein are concerned, and suchcases shall continue to be decided pursuant to the precedents of the VirginiaSupreme Court.

(1979, c. 407.)