Probate Code section 5122

(a)

“Account” means a contract of deposit of funds between a depositor and a financial institution, and includes a checking account, savings account, certificate of deposit, share account, and other like arrangement.

(b)

“Account” does not include:

(1)

An account established for deposit of funds of a partnership, joint venture, or other association for business purposes.

(2)

An account controlled by one or more persons as the duly authorized agent or trustee for a corporation, unincorporated association, or charitable or civic organization.

(3)

A regular fiduciary or trust account where the relationship is established other than by deposit agreement.

(4)

An account established for the deposit of funds of the estate of a ward, conservatee, or decedent.

Source: Section 5122, https://leginfo.­legislature.­ca.­gov/faces/codes_displaySection.­xhtml?lawCode=PROB§ionNum=5122.­ (accessed May 26, 2025).

Last Updated

May 12, 2025

§ 5122’s source at ca​.gov