Deposit in Name of "A B, Sheriff," or "A B, Assignee" - Death of Depositor - To whom are the Moneys in the Accounts Payable?
This section is from the book "Canadian Banking Practice", by John T. P. Knight.
This section is from the "" book, by .
Deposit in Name of "A B, Sheriff," or "A B, Assignee" - Death of Depositor - To whom are the Moneys in the Accounts Payable?
Question 498. - A deposit account is opened in the name of "A B, sheriff," and another in the name of "A B, assignee." On A. B's decease to whom are the moneys in the accounts payable?
Answer. - Moneys standing at the credit of "A B, sheriff," or "A B, assignee," can only be paid out on the cheques of his executors or administrators, unless there be some local statute otherwise providing.
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