6.1-225.50:1 - (Repealed effective October 1, 2010) Accounts of fiduciaries - Virginia Statutes

§ 6.1-225.50:1. (Repealed effective October 1, 2010) Accounts of fiduciaries.

A credit union may issue shares and maintain share accounts in the name ofany person or entity eligible for membership in such credit union pursuant to§ 6.1-225.23 as administrator, executor, custodian, conservator, guardian,trustee or other fiduciary for a named beneficiary or beneficiaries. Thepayment of funds from any such account pursuant to a share draft or otherwritten order of withdrawal signed by the fiduciary, or delivery of funds insuch account to such fiduciary, or a receipt signed by any such fiduciarywith regard to the payment of funds from such account, shall be valid andsufficient release and discharge of the credit union for the payment ordelivery so made.

(2000, c. 744.)