Tennessee § 45-3-506 Power of attorney on accounts

Tennessee Statutes

§ 45-3-506 — Power of attorney on accounts

Tennessee § 45-3-506

Title45

This text of Tennessee § 45-3-506 (Power of attorney on accounts) is published on Counsel Stack Legal Research, covering Tennessee primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Tenn. Code Ann. § 45-3-506 (2026).

Text

(a)Any association may continue to recognize the authority of a power of attorney authorizing in writing as attorney-in-fact to operate, in whole or in part, the account of a depositor, unless and until it receives actual notice of the revocation of authority.

(b)Actual notice of the death, adjudication of incompetency, or adjudication of bankruptcy of the depositor shall constitute actual notice of revocation of the authority of the attorney-in-fact, except where the Uniform Durable Power of Attorney Act, compiled in title 34, chapter 6, is applicable.

(c)No association shall be liable for damages, penalty, or tax by reason of any payment made pursuant to this section.

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(a) Any association may continue to recognize the authority of a power of attorney authorizing in writing as attorney-in-fact to operate, in whole or in part, the account of a depositor, unless and until it receives actual notice of the revocation of authority. (b) Actual notice of the death, adjudication of incompetency, or adjudication of bankruptcy of the depositor shall constitute actual notice of revocation of the authority of the attorney-in-fact, except where the Uniform Durable Power of Attorney Act, compiled in title 34, chapter 6, is applicable. (c) No association shall be liable for damages, penalty, or tax by reason of any payment made pursuant to this section.