Code of the District of Columbia

§ 26–506.06. Joint accounts.

(a) A member may designate any person or persons to own a share account with the member, in joint tenancy with the right of survivorship, as a tenant in common, or under any other form of joint ownership permitted by law and allowed by the District credit union.

(b) Payment may be made, in whole or in part, to any of the joint owners, if an agreement permitting the payment was signed and dated by all persons when the shares were issued or thereafter. Payment made pursuant to this section shall discharge the District credit union from all claims for amounts paid, whether or not the payment is consistent with the beneficial ownership of the account.

(c) If more than one joint owner seeks District credit union membership through a joint account, each prospective member shall meet any membership requirements described in the District credit union's bylaws.