72-6-205. Designation of agent. (1) 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.
(2) 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 a disabled or incapacitated party until the authority of the agent is terminated.
(3) Death of the sole party or last-surviving party terminates the authority of an agent.
History: En. Sec. 88, Ch. 494, L. 1993.
Structure Montana Code Annotated
Title 72. Estates, Trusts, and Fiduciary Relationships
Chapter 6. Nonprobate Transfers on Death
Part 2. Multiple-Party Accounts
72-6-202. Limitation on scope of part
72-6-203. Types of account -- existing accounts
72-6-205. Designation of agent
72-6-206. Applicability of beneficial ownership provisions
72-6-207. through 72-6-210 reserved
72-6-211. Ownership during lifetime
72-6-213. Alteration of rights
72-6-214. Accounts and transfers nontestamentary
72-6-216. Community property and tenancy by entireties
72-6-217. through 72-6-220 reserved
72-6-221. Authority of financial institution
72-6-222. Payment on multiple-party account
72-6-223. Payment on POD designation
72-6-224. Payment to designated agent
72-6-228. Liability of nonprobate transferees for creditor claims and statutory allowances