Thursday, July 24, 2008
The General Assembly is not in session.
Tracking Virginia’s General Assembly
since 2007.
HB2002: Bank account balances of deceased persons; increases amount bank may distribute to distributee, etc.
Be it enacted by the General Assembly of Virginia:
1. That § 6.1-71 of the Code of Virginia is amended and reenacted as follows:
§ 6.1-71. Payment of small balance to distributees or other persons.
When the balance in any bank to the credit of a deceased
person, upon whose estate there shall have been no qualification, does not
exceed $15,000 the
amount specified in subdivision A 1 of
§ 64.1-132.2, it shall be lawful for such bank, after sixty 60 days from the death of such
person, to pay such balance to his or her spouse, and if none, to the
distributees of the decedent or other persons entitled thereto under the laws
of this Commonwealth. The receipt therefor shall be a full discharge and
acquittance to such bank to all persons whomsoever on account of such deposit.
Such sum, not exceeding the amount given priority by § 64.1-157, after thirty 30 days from the death of such
person, at the request of the consort, or if no consort, then the distributees
of the decedent or other persons entitled under the laws of this Commonwealth,
may be paid to the undertaker or mortuary handling the funeral of such decedent
and a receipt of the payee shall be a full and final release of the payor.
Additional Data
Explanation
This is the actual text of the bill — the legislation itself. Generally this is amending existing law, proposing the addition or removal of words from laws that are already on the books.
Words that are highlighted in yellow are
proposed additions, and words that are crossed out in
red are proposed removals.
The numbers with the § symbol before them are references to existing laws, and if you click on them they’ll take you to that part of the law on the state's website.