§ 30.22.170. Payment to agents of depositors
Any funds on deposit in an account may be paid by a financial institution to or upon the order of any agent of any depositor. The contract of deposit or other document creating such agency may provide, in accordance with chapter 11.94 RCW, that any such agent's powers to receive payments and make withdrawals from an account continues in spite of, or arises by virtue of, the incompetency of a depositor, in which event the agent's powers to make payments and withdrawals from an account on behalf of a depositor is not affected by the incompetency of a depositor. Except as provided in this section, the authority of an agent to receive payments or make withdrawals from an account terminates with the death or incompetency of the agent's principal: PROVIDED, That a financial institution is not liable for any payment or withdrawal made to or by an agent for a deceased or incompetent depositor unless the financial institution making the payment or permitting the withdrawal had actual knowledge of the incompetency or death at the time payment was made.
[1981 c 192 § 17.]
Sections: Previous 30.22.100 30.22.110 30.22.120 30.22.130 30.22.140 30.22.150 30.22.160 30.22.170 30.22.180 30.22.190 30.22.200 30.22.210 30.22.220 30.22.230 30.22.240 NextLast modified: April 7, 2009