6.2-605 - (Effective October 1, 2010) Applicability. - Virginia Statutes

§ 6.2-605. (Effective October 1, 2010) Applicability.

A. The provisions of §§ 6.2-606, 6.2-607, and 6.2-608 concerning beneficialownership as between parties, or as between parties and P.O.D. payees orbeneficiaries of multiple-party accounts, are relevant only to controversiesbetween these persons and their creditors and other successors, and have nobearing on the power of withdrawal of these persons as determined by theterms of account contracts.

B. The provisions of §§ 6.2-612 through 6.2-617 govern the liability offinancial institutions that make payments pursuant thereto, and their set-offrights.

(1979, c. 407, § 6.1-125.2; 2010, c. 794.)