Designation of agent.
By a writing signed by all parties, the parties may designate as agent of all parties on an account a person other than a party. Unless the terms of an agency designation provide that the authority of the agent terminates on disability or incapacity of a party, the agent’s authority survives disability and incapacity. The agent may act for an incapacitated party or a party with a disability until the authority of the agent is terminated. Death of the sole party or last surviving party terminates the authority of an agent.
Annotations
Apr. 27, 2001, D.C. Law 13-292, § 302(b), 48 DCR 2087 Apr. 24, 2007, D.C. Law 16-305, § 33(a), 53 DCR 6198 Uniform Law: This section is based upon § 205 of the Uniform Nonprobate Transfers on Death Act (1991 Act). D.C. Law 16-305, in subsec. (b), substituted “an incapacitated party or a party with a disability” for “a disabled or incapacitated party”.
Sourced from the DC Council Open Law Library (public domain).
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