A financial institution, on request of an agent under an agency designation for an account, may pay to the agent sums on deposit in the account, whether or not a party has a disability, is incapacitated, or deceased when the request is made or received, and whether or not the authority of the agent terminates on the disability or incapacity of a party.
CREDIT(S)
(Apr. 27, 2001, D.C. Law 13-292, § 302(b), 48 DCR 2087; Apr. 24, 2007, D.C. Law 16-305, § 33(d), 53 DCR 6198.)
HISTORICAL AND STATUTORY NOTES
Effect of Amendments
D.C. Law 16-305 substituted “has a disability, is” for “is disabled”.
Legislative History of Laws
For D.C. Law 13-292, see notes following § 19-601.01.
For Law 16-305, see notes following § 19-602.05.
Uniform Law
This section is based upon § 224 of the Uniform Nonprobate Transfers on Death Act (1991 Act). See 8B Uniform Laws Annotated, Master Edition, or ULA Database on WESTLAW.