State Codes and Statutes
Statutes > Virginia > Title-6-1 > Chapter-4-01 > 6-1-225-48§ 6.1-225.48. (Repealed effective October 1, 2010) Accounts of deceased orincapacitated person.
A credit union may pay any share balance due a deceased person or any personunder a disability to the personal representative, guardian, conservator,curator, or committee of such person upon proper proof of the appointment andqualification of such fiduciary. Such qualification shall be sufficientauthority for making such payment. A credit union making such payment shallno longer be liable for the amount so paid to any person. The presentation ofa duly certified letter or certificate of qualification as personalrepresentative, or other fiduciary, guardian, conservator, curator, orcommittee shall be conclusive proof of the jurisdiction of the court issuingthe same.
A credit union which has received no written notice and does not have actualnotice that a member is deceased or has been adjudicated incapacitated, maypay or deliver shares in such member's account in accordance with theprovisions of the account contract without liability to any person for theamounts so paid.
(1968, c. 560, § 6.1-208.3; 1990, c. 373; 1997, c. 801.)
