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HomeFinancial CodeDiv. 5Ch. 6Art. 1§ 14854 Credit Union Joint Accounts

§ 14854 Credit Union Joint Accounts

Financial Code·California
AI Summary·Official Text·Key Terms·Related Statutes·References
AI SummaryVerified

§ 14854 Credit Union Joint Accounts

This law says that if multiple people own a credit union account together, the rules for that account are the same as the rules for multiple-party accounts in the Probate Code.

Key Takeaways

  • •If you share a credit union account with someone else, the rules for that account follow the Probate Code.
  • •This law makes sure everyone knows what happens with the money in the account, like if one person dies.
  • •The credit union has to follow these rules, not just their own.

Example

Two friends open a joint savings account at a credit union.

The rules for who can access the money or what happens if one friend passes away are decided by the Probate Code, not just the credit union's rules.

AI-generated — May contain errors. Not legal advice. Always verify source.

Official Source
View on CA.gov

§ 14854 Credit Union Joint Accounts

Subject to Section 14860, a credit union share account that is a multiple-party account, as defined in Section 5132 of the Probate Code, is governed by Part 2 (commencing with Section 5100) of Division 5 of the Probate Code. (Amended by Stats. 1990, Ch. 79, Sec. 9. Operative July 1, 1991, pursuant to Stats. 1990, Ch. 710, Sec. 46.)

Last verified: January 11, 2026

Key Terms

credit union share accountmultiple-party accountProbate Code

Related Statutes

  • § 1402 Multiple-Party Bank Accounts
  • § 14850 Credit Union Securities Exemption
  • § 14851 Credit Union Share Issuance
  • § 14852 Credit Union Share Transfer Fees
  • § 14853 Minor Credit Union Accounts

References

  • Official text at leginfo.legislature.ca.gov
  • California Legislature. Financial Code. Section 14854.
View Official Source