Official Code of Georgia Annotated

Title 7. BANKING AND FINANCE · Chapter 1. FINANCIAL INSTITUTIONS · Article 8. MULTIPLE-PARTY ACCOUNTS

7-1-816. Multiple-party accounts authorized; payment on signature of one party; inquiry as to deposits or withdrawals not required.

Active

Current through: Including Acts of the 2025 Regular Session of the General Assembly.

Financial institutions 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 request, to any one or more of the parties. For purposes of establishing net contributions, a financial institution shall not be 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of funds received for deposit to a multiple-party account or to inquire as to the proposed application of any sum withdrawn from an account.

The notes below are printed with the section but are not enacted law (O.C.G.A. § 1-1-1(c)). They are shown apart from the text.

History

Code 1933, § 41A-3807, enacted by Ga. L. 1976, p. 1388, § 8.

Law reviews

For article, “Business Associations,” see 53 Mercer L. Rev. 109 (2001). For article, “Wills, Trusts & Administration of Estates,” see 53 Mercer L. Rev. 499 (2001).

Read the official page (the state's PDF, opened at the page this text was read from).

Current through: Including Acts of the 2025 Regular Session of the General Assembly.

Text read from t7-t8-(v5)-2024-pdf.pdf, Volume V5, 2024 edition, pages 503 to 504; merge action: carried; file SHA-256 5c69f28428d8.