-- Last revised 11/22/06 --
Multiple Party Accounts: Ownership of Amounts on Deposit - Study L-1064
Recent case law interprets the Multiple Party Accounts Law to enable a party
to an account to obtain ownership of amounts on deposit without liability to the other parties by
withdrawal of funds from the account. The Commission recommends corrective legislation to make clear
that ownership of amounts withdrawn from a joint account is based on net contributions to the account.
Legislation to implement the Commission's recommendation is pending as AB 69 (Harman) in the 2005-06
If you have questions or comments on this study, send an e-mail to Brian Hebert at firstname.lastname@example.org.
- Final Recommendation
- Tentative Recommendation
- Commission Decisions (Meeting Minutes)
- Staff Memoranda
2005: Assembly Bill 69 (Harman) [Ownership of Amounts Withdrawn from Joint Account]
- Ownership of Amounts Withdrawn from Joint Account -- (June 2004)
Tentative Recommendations and Other Requests for Comment
- Tentative Rec. -- Ownership of Amounts Withdrawn from Joint Account (February 2004) -- Comments Due: 5/15/2004
- Memo 2004-32 -- Multiple Party Accounts: Ownership of Amounts on Deposit (Comments on Tentative Recommendation) (5/28/2004)
- Memo 2004-10, Supp. 1 -- Multiple Party Accounts: Ownership of Amounts on Deposit (Comments of State Bar Committees) (1/28/2004)
- Memo 2004-10 -- Multiple Party Accounts: Ownership of Amounts on Deposit (12/19/2003)
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