If an association or federal association has received no written notice and is not on actual notice that the savings account holder has been adjudicated incompetent, it may pay or deliver funds to the account holder in accordance with the provisions of the savings account contract, and the receipt or acquittance of the holder shall be a sufficient release of that association or federal association for the payment or delivery.
Cal. Fin. Code § 6900
Accounts of Incompetents
Known as the Savings Association Law
The act spans §§ 5000–10009 (387 sections).
Amended by Stats. 1984, Ch. 958, Sec. 11.
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.