2012 Pennsylvania Consolidated Statutes
Title 17 - CREDIT UNIONS
Chapter 5 - Corporate Powers, Duties and Safeguards
Section 506 - Joint accounts

     § 506.  Joint accounts.
        (a)  General rule.--Whenever shares of a credit union shall
     be issued in the names of two or more persons, the credit union
     shall not pay any dividends or earnings thereon, or the
     repurchase value thereof, except upon proper receipt,
     acquittance or other action, as the case may be, of all of such
     persons, unless at the time of subscribing to the shares, or at
     a subsequent time, all the parties agree to a different
     arrangement, and give the credit union written notice thereof.
        (b)  Payments to less than all joint owners.--Whenever any
     share accounts of a credit union shall be issued in the names of
     two or more persons, and such share accounts shall have been
     subscribed for under an arrangement with the credit union
     whereby the dividends thereon, or the repurchase value thereof,
     may be paid upon receipt, acquittance or other action, as the
     case may be, of either or any of such persons, the credit union
     may pay such dividends or repurchase value upon such receipt,
     acquittance or other action, as the case may be, of either or
     any of such persons, pursuant to the arrangement provided for in
     this section, notwithstanding the fact that one or more of the
     other persons may be dead and the credit union has notice
     thereof.
        (c)  Revocation of agency.--The co-owner of a joint account
     may, with consent of the credit union, give said credit union
     written notice not to honor any or all requests for withdrawal
     of shares of any other co-owner of the joint account.
        (d)  Spousal accounts.--This section, except subsection (c),
     shall not be construed to affect share accounts in the names of
     a husband and his wife.