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LCO 4292 \\PRDFS1\SCOUSERS\FORZANOF\WS\2019SB-00190-R01 of 9 SB.docx Committee Bill No.
4292 1 of 9 Committee Bill No.190 (Insert account number) in (Insert name of financial institution) moneys, negotiable instruments or credits acceptable by said financial institution for deposit, to withdraw from said account, either personally or by order payable either to said agent individually or to another payee, all moneys now and hereafter deposited in my name and to my credit in said account, and to sign in my name any and all required receipts, orders, drafts and withdrawal slips therefor, giving said agent full power and authority to do and perform anything whatsoever requisite and necessary to be done with respect to said account as fully as I might or could do if personally present, hereby ratifying and confirming all that said agents shall do or cause to be done by virtue hereof.
190 (Insert account number) in (Insert name of financial institution) moneys, negotiable instruments or credits acceptable by said financial institution for deposit, to withdraw from said account, either personally or by order payable either to said agent individually or to another payee, all moneys now and hereafter deposited in my name and to my credit in said account, and to sign in my name any and all required receipts, orders, drafts and withdrawal slips therefor, giving said agent full power and authority to do and perform anything whatsoever requisite and necessary to be done with respect to said account as fully as I might or could do if personally present, hereby ratifying and confirming all that said agents shall do or cause to be done by virtue hereof.
If the principal dies, the power LCO No.
If the principal dies, the power LCO 4292 {\\PRDFS1\SCOUSERS\FORZANOF\WS\2019SB-001902 of 9 R02-SB.docx } Committee Bill No.
4292 2 of 9 Committee Bill No.190 of attorney shall cease at the time of the principal's death, and the person acting under the power of attorney shall account to the fiduciary of the principal's estate.
190 of attorney shall cease at the time of the principal's death, and the person acting under the power of attorney shall account to the fiduciary of the principal's estate.
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LCO 4292 {\\PRDFS1\SCOUSERS\FORZANOF\WS\2019SB-00193 of 9 R02-SB.docx } Committee Bill No.
4292 3 of 9 Committee Bill No.190 (4) "Good faith" means honesty in fact.
190 (4) "Good faith" means honesty in fact.
The term does not include a power exercisable in LCO No.
The term does not include a power exercisable in LCO 4292 {\\PRDFS1\SCOUSERS\FORZANOF\WS\2019SB-00190-4 of 9 R02-SB.docx } Committee Bill No.
4292 4 of 9 Committee Bill No.190 a fiduciary capacity or only by will.
190 a fiduciary capacity or only by will.
(a) For purposes of this section and section 1-350s, as amended by this act, "acknowledged" means purportedly verified before a notary public, a commissioner of the Superior Court or other individual LCO No.
(a) For purposes of this section and section 1-350s, as amended by this act, "acknowledged" means purportedly verified before a notary public, a commissioner of the Superior Court or other individual LCO 4292 {\\PRDFS1\SCOUSERS\FORZANOF\WS\2019SB-001905 of 9 R02-SB.docx } Committee Bill No.
4292 5 of 9 Committee Bill No.190 authorized to take acknowledgments, and "person" means an individual, corporation, business trust, estate, trust, partnership, limited liabilitycompany, association, joint venture, public corporation, government or governmental subdivision, agency or instrumentality or any other legal or commercial entity, but does not include a financial institution.
190 authorized to take acknowledgments, and "person" means an individual, corporation, business trust, estate, trust, partnership, limited liabilitycompany, association, joint venture, public corporation, government or governmental subdivision, agency or instrumentality or any other legal or commercial entity, but does not include a financial institution.
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LCO 4292 {\\PRDFS1\SCOUSERS\FORZANOF\WS\2019SB-001906 of 9 R02-SB.docx } Committee Bill No.
4292 6 of 9 Committee Bill No.190 (e) An English translation or an opinion of counsel requested under subsection (d) of this section [must] shall be provided at the principal's expense [unless] if the request is made [more] (1) by a person not later than seven business days after the power of attorney is presented for acceptance, or (2) by a financial institution at the time the power of attorney is presented for acceptance.
190 (e) An English translation or an opinion of counsel requested under subsection (d) of this section [must] shall be provided at the principal's expense [unless] if the request is made [more] (1) by a person not later than seven business days after the power of attorney is presented for acceptance, or (2) by a financial institution at the time the power of attorney is presented for acceptance.
and] A financial institution shall accept an acknowledged power of attorney upon LCO No.
and] A financial institution shall accept an acknowledged power of attorney upon LCO 4292 {\\PRDFS1\SCOUSERS\FORZANOF\WS\2019SB-00190-7 of 9 R02-SB.docx } Committee Bill No.
4292 7 of 9 Committee Bill No.190 presentation of the power of attorney for acceptance, whether or not a certification, a translation or an opinion of counsel has been requested or provided pursuant to subsection (d) of section 1-350r, as amended by this act.
190 presentation of the power of attorney for acceptance, whether or not a certification, a translation or an opinion of counsel has been requested or provided pursuant to subsection (d) of section 1-350r, as amended by this act.
or [(6)] (5) The person or financial institution makes, or has actual knowledge that another person or financial institution has made, a report to the Bureau of Aging, Community and Social Work Services Division of the Department of Social Services stating a good faith belief that the principal may be subject to physical or financial abuse, neglect, LCO No.
or [(6)] (5) The person or financial institution makes, or has actual knowledge that another person or financial institution has made, a report to the Bureau of Aging, Community and Social Work Services Division of the Department of Social Services stating a good faith belief that the principal may be subject to physical or financial abuse, neglect, LCO 4292 {\\PRDFS1\SCOUSERS\FORZANOF\WS\2019SB-00190-8 of 9 R02-SB.docx } Committee Bill No.
4292 8 of 9 Committee Bill No.
Section 1 October 1, 2019 1-56b October 1, 2019 Sec.
Section 1 October 1, 2019 1-56b Sec.
2 1-350a Sec.
2 October 1, 2019 1-350a Sec.
4 October 1, 2019 1-350s Statement of Purpose:
4 October 1, 2019 1-350s BA Joint Favorable LCO 4292 {\\PRDFS1\SCOUSERS\FORZANOF\WS\2019SB-00190- 9 of 9 R02-SB.docx }
To require financial institutions to accept authorized powers of attorney.
except that when the entire text of a bill or resolution or a section of a bill or resolution is new, it is not underlined.] Co-Sponsors:
SEN.
KELLY, 21st Dist.
S.B.
190 LCO No.
4292 9 of 9
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