678.570 - Multiple-party accounts: Authorization; disbursement of money; limitations. - Nevada Statutes

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Statutes > Nevada > Title-56 > Chapter-678 > Membership-accounts > 678-570

678.570 Multiple-party accounts: Authorization; disbursement of money; limitations.

1. A credit union may enter into multiple-party accounts to the same extent that they may enter into single-party accounts. Any multiple-party account may be paid, on demand, to any one or more of the parties unless the terms of the account expressly stipulate that joint signatures are required.

2. A credit union is not required to inquire as to the source of funds received for deposit to a multiple-party account or to inquire as to the proposed application of any sum withdrawn from an account.

3. A multiple-party account may be created with any person designated by the credit union member, but a joint tenant shall not be permitted to vote, obtain loans or hold office unless he or she is a qualified member.

(Added to NRS by 1975, 385)

State Codes and Statutes

Statutes > Nevada > Title-56 > Chapter-678 > Membership-accounts > 678-570

678.570 Multiple-party accounts: Authorization; disbursement of money; limitations.

1. A credit union may enter into multiple-party accounts to the same extent that they may enter into single-party accounts. Any multiple-party account may be paid, on demand, to any one or more of the parties unless the terms of the account expressly stipulate that joint signatures are required.

2. A credit union is not required to inquire as to the source of funds received for deposit to a multiple-party account or to inquire as to the proposed application of any sum withdrawn from an account.

3. A multiple-party account may be created with any person designated by the credit union member, but a joint tenant shall not be permitted to vote, obtain loans or hold office unless he or she is a qualified member.

(Added to NRS by 1975, 385)

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State Codes and Statutes

Statutes > Nevada > Title-56 > Chapter-678 > Membership-accounts > 678-570

678.570 Multiple-party accounts: Authorization; disbursement of money; limitations.

1. A credit union may enter into multiple-party accounts to the same extent that they may enter into single-party accounts. Any multiple-party account may be paid, on demand, to any one or more of the parties unless the terms of the account expressly stipulate that joint signatures are required.

2. A credit union is not required to inquire as to the source of funds received for deposit to a multiple-party account or to inquire as to the proposed application of any sum withdrawn from an account.

3. A multiple-party account may be created with any person designated by the credit union member, but a joint tenant shall not be permitted to vote, obtain loans or hold office unless he or she is a qualified member.

(Added to NRS by 1975, 385)