§ 5-24-24 — Payment to Designated Agent

Alabama § 5-24-24

• Jurisdiction: Alabama
• Title 5: Banks and Financial Institutions
• Ch. 24: Uniform Multiple-Person Accounts Act
• Art. 3: Protection of Financial Institutions

Text

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 is disabled, incompetent, incapacitated, or deceased when the request is made or received, and whether or not the authority of the agent terminates on the death, disability, incompetency, or incapacity of a party.

Legislative History

(Acts 1997, No. 97-644, p. 1177, §1.)