Louisiana Revised Statutes 6:1257 – Payment on legal disability or death of holder in holder’s own right of a withdrawable account
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Terms Used In Louisiana Revised Statutes 6:1257
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- person: includes a body of persons, whether incorporated or not. See Louisiana Revised Statutes 1:10
A. If the holder of a withdrawable account is adjudicated to be a person under legal interdiction by a court of competent jurisdiction, then the savings bank may pay the value of such withdrawable account and interest thereon to the curator of such holder upon his appointment and qualification, in accordance with La. Rev. Stat. 6:766.
B. Upon the death of a holder of a withdrawable account, the savings bank may pay the value thereof and interest thereon to the representative of such deceased holder if and when qualified, in the manner provided in this Chapter for the voluntary withdrawal of accounts generally, and in accordance with La. Rev. Stat. 6:767.
Acts 1990, No. 816, §1, eff. Sept. 1, 1990.