75-6-115 - Agency accounts. - Utah Statutes

75-6-115. Agency accounts.
Nothing in this chapter shall preclude a party to an account from adding the name ofanother person to such an account with the designation "agent." This agent shall have no presentor future interest in the sums on deposit in such account, but the financial institution may honorrequests for payment from such account by such agent, whether the principal be incapacitated ordeceased at the time the payment is demanded, unless the financial institution has actualknowledge of such death or incapacity. Payments from such account by such financial institutionat the request of such agent shall discharge such financial institution from all claims for amountsso paid.

Amended by Chapter 194, 1977 General Session