15-12-208. BANKS AND OTHER FINANCIAL INSTITUTIONS. Unless a 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:
(1) Continue, modify and terminate an account or other banking arrangement made by or on behalf of the principal;
(2) 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;
(3) Contract for services available from a financial institution, including renting a safe deposit box or space in a vault;
(4) 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;
(5) Receive statements of account, vouchers, notices and similar documents from a financial institution and act with respect to them;
(6) Enter a safe deposit box or vault and withdraw or add to the contents;
(7) Borrow money and pledge as security personal property of the principal necessary in order to borrow money or pay, renew or extend the time of payment of a debt of the principal;
(8) 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;
(9) 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;
(10) 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
(11) Consent to an extension of the time of payment with respect to commercial paper or a financial transaction with a financial institution.
History:
[15-12-208, added 2008, ch. 186, sec. 2, p. 572.]
Structure Idaho Code
Title 15 - UNIFORM PROBATE CODE
Chapter 12 - UNIFORM POWER OF ATTORNEY ACT
Section 15-12-201 - AUTHORITY THAT REQUIRES SPECIFIC GRANT — GRANT OF GENERAL AUTHORITY.
Section 15-12-202 - INCORPORATION OF AUTHORITY.
Section 15-12-203 - CONSTRUCTION OF AUTHORITY GENERALLY.
Section 15-12-204 - REAL PROPERTY.
Section 15-12-205 - TANGIBLE PERSONAL PROPERTY.
Section 15-12-206 - STOCKS AND BONDS.
Section 15-12-207 - COMMODITIES AND OPTIONS.
Section 15-12-208 - BANKS AND OTHER FINANCIAL INSTITUTIONS.
Section 15-12-209 - OPERATION OF AN ENTITY OR BUSINESS.
Section 15-12-210 - INSURANCE AND ANNUITIES.
Section 15-12-211 - ESTATES, TRUSTS AND OTHER BENEFICIAL INTERESTS.
Section 15-12-212 - CLAIMS AND LITIGATION.
Section 15-12-213 - PERSONAL AND FAMILY MAINTENANCE.
Section 15-12-214 - BENEFITS FROM GOVERNMENTAL PROGRAMS OR CIVIL OR MILITARY SERVICE.