6.2-1365 - (Effective October 1, 2010) Accounts of deceased or incapacitated person. - Virginia Statutes

§ 6.2-1365. (Effective October 1, 2010) Accounts of deceased or incapacitatedperson.

A. A credit union may pay any share balance due a deceased person or anyperson under a disability to the personal representative, guardian,conservator, curator, or committee of such person upon proper proof of theappointment and qualification of such fiduciary. Such qualification shall besufficient authority for making such payment. A credit union making suchpayment shall no longer be liable for the amount so paid to any person. Thepresentation of a duly certified letter or certificate of qualification aspersonal representative, or other fiduciary, guardian, conservator, curator,or committee shall be conclusive proof of the jurisdiction of the courtissuing the same.

B. A credit union that has received no written notice and does not haveactual notice that a member is deceased or has been adjudicatedincapacitated, may pay or deliver shares in such member's account inaccordance with the provisions of the account contract without liability toany person for the amounts so paid.

(1968, c. 560, § 6.1-208.3; 1990, c. 373, § 6.1-225.48; 1997, c. 801; 2010,c. 794.)