California Financial Code

§ 6851

FIN § 6851Div. 2 · Ch. 5 · Art. 7

Statute text

(a)The withdrawal value of a fiduciary account, and interest on it, or other rights relating to it, may be paid or delivered, in whole or in part, to the fiduciary without regard to any notice to the contrary as long as the fiduciary is living.

(b)The payment or delivery to the fiduciary or a receipt or acquittance signed by a fiduciary to whom payment or delivery of rights is made shall be a sufficient release of an association for the payment or delivery.

Legislative history

Added by Stats. 1983, Ch. 1091, Sec. 2.