Oregon Statutes - Chapter 723 - Credit Unions - Section 723.498 - Designation of agent for account; powers of agent.

Nothing in ORS 723.426, 723.432, 723.474, 723.476 or 723.478 shall preclude a party to an account from adding the name of another person to the account with the designation of “agent.” The agent shall have no present or future interest in the sums on deposit in the account, but the credit union may honor requests for payment from the accounts by the agent, unless the principal is deceased at the time the payment is requested and the credit union has actual knowledge of the death. Payments from the account by the credit union at the request of the agent shall discharge the credit union from all claims for amounts so paid. [1999 c.185 §37]

Section:  Previous  723.484  723.486  723.488  723.490  723.492  723.494  723.496  723.498  723.502  723.506  723.510  723.512  723.516  723.520  723.522  Next

Last modified: August 7, 2008