New Mexico § 45-5B-208 Banks and other financial institutions

New Mexico Statutes

§ 45-5B-208 — Banks and other financial institutions

New Mexico § 45-5B-208

Ch. 45Uniform Probate Code

Art. 5BUniform Power of Attorney

This text of New Mexico § 45-5B-208 (Banks and other financial institutions) is published on Counsel Stack Legal Research, covering New Mexico primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.M. Stat. Ann. § 45-5B-208 (2026).

Text

Unless the power of attorney otherwise provides, language in a power of attorney granting general authority with respect to banks and other financial institutions authorizes the agent to: A. continue, modify and terminate an account or other banking arrangement made by or on behalf of the principal; B. establish, modify and terminate an account or other banking arrangement with a bank, trust company, savings and loan association, credit union, thrift company, brokerage firm or other financial institution selected by the agent; C. contract for services available from a financial institution, including renting a safe deposit box or space in a vault; D. withdraw, by check, order, electronic funds transfer or otherwise, money or property of the principal deposited with or left in the custody o

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Unless the power of attorney otherwise provides, language in a power of attorney granting general authority with respect to banks and other financial institutions authorizes the agent to: A. continue, modify and terminate an account or other banking arrangement made by or on behalf of the principal; B. establish, modify and terminate an account or other banking arrangement with a bank, trust company, savings and loan association, credit union, thrift company, brokerage firm or other financial institution selected by the agent; C. contract for services available from a financial institution, including renting a safe deposit box or space in a vault; D. withdraw, by check, order, electronic funds transfer or otherwise, money or property of the principal deposited with or left in the custody of a financial institution; E. receive statements of account, vouchers, notices and similar documents from a financial institution and act with respect to them; F. enter a safe deposit box or vault and withdraw or add to the contents; G. borrow money and pledge as security personal property of the principal necessary to borrow money or to pay, renew or extend the time of payment of a debt of the principal or of a debt guaranteed by the principal; H. make, assign, draw, endorse, discount, guarantee and negotiate promissory notes, checks, drafts and other negotiable or nonnegotiable paper of the principal or payable to the principal or the principal's order, transfer money, receive the cash or other proceeds of those transactions and accept a draft drawn by a person upon the principal and pay it when due; I. receive for the principal and act upon a sight draft, warehouse receipt or other document of title, whether tangible or electronic, or other negotiable or nonnegotiable instrument; J. apply for, receive and use letters of credit, credit and debit cards, electronic transaction authorizations and traveler's checks from a financial institution and give an indemnity or other agreement in connection with letters of credit; and K. consent to an extension of the time of payment with respect to commercial paper or a financial transaction with a financial institution.