CODE OF VIRGINIA

ACCOUNTS OF FIDUCIARIES (§ 6.2-1368)

A credit union may issue shares and maintain share accounts in the name of any
person or entity eligible for membership in such credit union pursuant to §
6.2-1327 as administrator, executor, custodian, conservator, guardian, trustee,
or other fiduciary for a named beneficiary. The payment of funds from any such
account pursuant to a share draft or other written order of withdrawal signed by
the fiduciary, the delivery of funds in such account to such fiduciary, or a
receipt signed by any such fiduciary with regard to the payment of funds from
such account, shall be valid and sufficient release and discharge of the credit
union for the payment or delivery so made.

HISTORY: 2000, c. 744, § 6.1-225.50:1; 2010, c. 794.