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R-20.2 - Act respecting remittance of deposits of money to account co-holders who are spouses or former spouses
Section 2
Disposition versions
2. Before entering into a contract with spouses or former spouses for the opening of a demand deposit account of which the spouses or former spouses are the only two co-holders, every authorized deposit institution or bank must inform them in writing of the possibility of declaring their respective share in the account balance.
A declaration is used only for the purpose of remitting that share in the event the balance or part of the balance becomes inaccessible due to the death of one of the co-holders.
A declaration is made jointly, in writing, at the time the demand deposit account is opened, or at any other time, by the co-holders who are spouses or former spouses and a copy of it is given to the authorized deposit institution or the bank. The co-holders may, at any time and in the same manner, change the declaration.
The authorized deposit institution or the bank must also inform the spouses or former spouses in writing of the consequences of an omission to make such a declaration and of the spouses’ or former spouses’ responsibility to inform the institution or bank of any change to their respective share.
In force: 2022-12-08
2. Before entering into a contract with spouses or former spouses for the opening of a demand deposit account of which the spouses or former spouses are the only two co-holders, every authorized deposit institution or bank must inform them in writing of the possibility of declaring their respective share in the account balance.
A declaration is used only for the purpose of remitting that share in the event the balance or part of the balance becomes inaccessible due to the death of one of the co-holders.
A declaration is made jointly, in writing, at the time the demand deposit account is opened, or at any other time, by the co-holders who are spouses or former spouses and a copy of it is given to the authorized deposit institution or the bank. The co-holders may, at any time and in the same manner, change the declaration.
The authorized deposit institution or the bank must also inform the spouses or former spouses in writing of the consequences of an omission to make such a declaration and of the spouses’ or former spouses’ responsibility to inform the institution or bank of any change to their respective share.
