Vermont § 14204 - Joint deposits
Full text of Vermont Vermont Statutes Online § 14204 — Joint deposits, with citation guidance and answers to common questions.
§ 14204. Joint deposits
- (a) Payment. When a deposit has been made in a financial institution in the names of two or more
persons, payable to any one of them, or payable to the survivors or any one of the
survivors, such deposit or any part thereof, or any interest or dividend thereon may
be paid to any one of such persons, whether the others are living or not, and the
receipt or acquittance of the person so paid shall be a valid and sufficient release
and discharge of the financial institution for any payment so made. (b) Evidence of joint deposit. The recital of the words “payable to either or to the survivor” or words of like effect
in the order creating such account and signed by the person or persons who furnish
the funds for such deposit shall be conclusive evidence, as between the payees and
their legal representatives, of the creation of an absolute joint account. However,
nothing in this section shall prevent the proof of fraud, undue influence, or incapacity
to defeat such joint interests. (Added 1999, No. 153 (Adj. Sess.), § 2, eff. Jan. 1, 2001; amended 2021, No. 105 (Adj. Sess.), § 294, eff. July 1, 2022.)
Frequently Asked Questions About Vermont § 14204
What does Vermont Statutes Online § 14204 cover?
Section 14204 ("Joint deposits") is part of the Vermont Statutes Online, the codified statutory law of Vermont. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Vermont § 14204?
A common citation format is "Vermont Statutes Online § 14204" (Vermont). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Vermont law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Vermont official source linked on this page or consult a licensed Vermont attorney.
How does Vermont § 14204 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Vermont can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Vermont.