Definitions
Known as the California Multiple-Party Accounts Law
The act spans §§ 5100–5407 (38 sections).
Enacted by Stats. 1990, Ch. 79.
“Payment” of sums on deposit includes all of the following:
(a) A withdrawal, including payment on check or other directive of a party.
(b) A pledge of sums of deposit.
(c) A setoff, reduction, or other disposition of all or part of an account pursuant to a pledge.
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.