A financial institution, on request of an agent under an agency designation for an account, may pay to the agent sums on deposit in the account, whether or not a party is disabled, incapacitated or deceased when the request is made or received, and whether or not the authority of the agent terminates on the disability or incapacity of a party.
History: 1978 Comp., § 45-6-224, enacted by Laws 1992, ch. 66, § 33.
Structure New Mexico Statutes
Chapter 45 - Uniform Probate Code
Article 6 - Nonprobate Transfers
Part 2 - MULTIPLE-PERSON ACCOUNTS
Subpart 3 - Protection Of Financial Institutions
Section 45-6-221 - Authority of financial institution.
Section 45-6-222 - Payment on multiple-party account.
Section 45-6-223 - Payment on POD designation.
Section 45-6-224 - Payment to designated agent.