Nevada Revised Statutes 672.160 v2 – ‘Multiple-party account’ defined
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1. ’Multiple-party account’ means:
Terms Used In Nevada Revised Statutes 672.160 v2
- 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.