United States — Utah Act or statute

United States — Utah legislation

Utah Code § 7-1-610, 1981

A depository institution may keep recognizing a written attorney-in-fact’s authority over a savings account until it has actual notice that the authority was revoked, and the institution is not liable for damages,…

institutional liabilitypowers of attorneysavings accounts

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01

Purpose and legislative effect

“A depository institution may keep recognizing a written attorney-in-fact’s authority over a savings account until it has actual notice that the authority was revoked, and the institution is not liable for damages, penalties, or tax for payments made under this section.”

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Source record from le.utah.gov · Enacted 1981

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Offence

Part 7-1-6

part 7-1-6 Deposit Accounts

§ 7-1-610Attorney-in-fact as to savings account -- Institution immune from liability.Offence

A depository institution may keep recognizing a written attorney-in-fact’s authority over a savings account until it has actual notice that the authority was revoked, and the institution is not liable for damages, penalties, or tax for payments made under this section.

Attorney-in-fact as to savings account -- Institution immune from liability. Any depository institution may continue to recognize the authority of an attorney-in-fact authorized in writing to manage or to make withdrawals either in whole or in part from the savings account of a holder, whether minor or adult, until it is on actual notice of the revocation of the authority of the attorney-in-fact. No such institution shall be liable for damages, penalty, or tax by reason of any payment made under this section.
Section 7-1-610Verify source

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