(a) A third person who conducts activities through employees is not charged under this chapter with actual knowledge of any fact relating to a power of attorney, nor of a change in the authority of an attorney-in-fact, unless both of the following requirements are satisfied:
(1) The information is received at a home office or a place where there is an employee with responsibility to act on the information.
(2) The employee has a reasonable time in which to act on the information using the procedure and facilities that are available to the third person in the regular course of its operations.
(b) Knowledge of an employee in one branch or office of an entity that conducts business through branches or multiple offices is not attributable to an employee in another branch or office.
(Added by Stats. 1994, Ch. 307, Sec. 16. Effective January 1, 1995.)
Last modified: October 25, 2018