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

Official Code of Georgia Annotated

Section: 7-1-816

Jurisdiction: GA

Bluebook Citation: O.C.G.A. § 7-1-816

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of funds received for deposit to a multiple-party account or to inquire as to the proposed application of any sum withdrawn from an account.

Chat with this statute using AI

Ask CiteLaw's AI Navigator anything about this statute, verify citations, and research related authorities. Sign up for CiteLaw free today to get started.