Anthem
Compliance Question of the Week
December 18, 2012
December 18, 2012
Does one joint owner on an account have the right to remove all of the money in the account?
Yes. This is true regardless of whether the credit union has classified the joint owner as the “primary” or the “secondary” joint owner. For account purposes, any joint owner has the right to remove all of the money in the account (except the membership share) at any time.
Related Links
RCW 30.22.090
RCW 30.22.120
ORS 723.488
Questions? Contact the Compliance Hotline: 1.800.546.4465, compliance@nwcua.org.
Posted in Compliance News.