678.640 - Payment of multiple-party accounts.
678.640 Payment of multiple-party accounts.
1. Except as provided in subsection 2, if a multiple-party account does not include a condition requiring joint signatures for withdrawals a credit union may pay any sum in such account on the demand of any party without regard to whether any other party is incompetent or deceased at the time the payment is demanded.
2. If the account is deemed to be a survivorship account pursuant to NRS 678.600, payment may not be made to the personal representative or heirs of a deceased party unless proof of death is presented to the credit union showing that the decedent was the last surviving party.
(Added to NRS by 1975, 386)
NRS 678.650 Right to setoff against multiple-party accounts. Without qualifying any other statutory right to setoff or lien and subject to any contractual provision, when a party to a multiple-party account is indebted to a credit union, the credit union has a right to setoff against the entire amount of the account.
(Added to NRS by 1975, 386)