1.  ’Multiple-party account’ means:

Terms Used In Nevada Revised Statutes 672.160

  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
  • Trustee: A person or institution holding and administering property in trust.

(a) An account in the name of two or more persons, any one or more of whom may make withdrawals;

(b) An account in the name of one or more persons as trustee for one or more beneficiaries;

(c) An account established for deposit of funds of a partnership, joint venture or other association; or

(d) An account controlled by two or more persons as the duly authorized agents or trustees for a corporation, unincorporated association, charitable or civil organization or any trust, except trusts of deposits evidenced solely by the form of the deposit.

2.  At least one party to a multiple-party account shall be a member of the credit union in which the account is established.

  Previous section
Next section  
 General Provisions Contents