6.2-614 - (Effective October 1, 2010) Payment of P.O.D. account. - Virginia Statutes

§ 6.2-614. (Effective October 1, 2010) Payment of P.O.D.account.

Any P.O.D. account may be paid, on request, to any originalparty to the account. Payment may be made, on request, to the P.O.D. payee orto the personal representative or heirs of a deceased P.O.D. payee under theVirginia Small Estate Act (§ 64.1-132.1 et seq.) upon presentation to thefinancial institution of proof of death showing that the P.O.D. payee survivedall persons named as original payees. Payment may be made to the personalrepresentative or heirs of a deceased original payee under the Virginia SmallEstate Act (§ 64.1-132.1 et seq.) if proof of death is presented to thefinancial institution showing that his decedent was the survivor of all otherpersons named on the account either as an original payee or as P.O.D. payee.

(1979, c. 407, § 6.1-125.11; 2010, cc. 269, 794.)