Code Section

Probate Code - PROB

DIVISION 5. NONPROBATE TRANSFERS [5000 - 5705]

  ( Division 5 enacted by Stats. 1990, Ch. 79. )
  

PART 2. MULTIPLE-PARTY ACCOUNTS [5100 - 5407]

  ( Part 2 enacted by Stats. 1990, Ch. 79. )
  

CHAPTER 1. Short Title and Definitions [5100 - 5152]

  ( Chapter 1 enacted by Stats. 1990, Ch. 79. )
  

ARTICLE 2. Definitions [5120 - 5152]
  ( Article 2 enacted by Stats. 1990, Ch. 79. )

  
5122.  

(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.

(Enacted by Stats. 1990, Ch. 79.)