SECTIONS 6725 - California Statutes

FINANCIAL CODE

SECTION 6725

6725. (a) Notwithstanding any other provision of law, an
association or federal association 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 receives
written notice or is on actual notice of the revocation of authority,
whether the revocation is express or by operation of law.
(b) Except as provided in Division 4.5 (commencing with Section
4000) of the Probate Code, written notice of the death or
adjudication of incompetency of the account holder that is delivered
to the office where the account is maintained shall constitute
written notice of revocation of the authority of the
attorney-in-fact.
(c) No association or federal association shall be liable for
damages, penalty, or tax by reason of any payment made pursuant to
this section.