Cal. Probate Code § 5122 : California Probate Code — Nonprobate Transfers — Short Title And Definitions — Definitions — Account

  • Date:

Current through the 2016 Legislative Session

(a) "Account" means a contract of deposit of funds between a depositor and a financial institution, and includes a checking account, savings account, certificate of deposit, share account, and other like arrangement.
(b) "Account" does not include:
(1) An account established for deposit of funds of a partnership, joint venture, or other association for business purposes.
(2) An account controlled by one or more persons as the duly authorized agent or trustee for a corporation, unincorporated association, or charitable or civic organization.
(3) A regular fiduciary or trust account where the relationship is established other than by deposit agreement.
(4) An account established for the deposit of funds of the estate of a ward, conservatee, or decedent.
Ca. Prob. Code § 5122
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