§ 5-1502D. Construction--banking transactions. In a statutory short\nform power of attorney, the language conferring general authority with\nrespect to "banking transactions," must be construed to mean that the\nprincipal authorizes the agent:\n 1. To continue, to modify, to terminate and to make deposits to and\nwithdrawals from any deposit account, including any joint account with\nthe agent or totten trust for the benefit of the agent, or other banking\narrangement made by or on behalf of the principal prior to the creation\nof the agency, provided, however, that:\n (a) with respect to joint accounts existing at the creation of the\nagency, the authority granted hereby shall not include the power to\nchange the title of the account by the addition of a new joint tenant or\nthe deletion of an existing joint tenant, unless the authority to make\nsuch changes is expressly stated otherwise in the "Modifications"\nsection of a statutory short form power of attorney or in a\nnon-statutory power of attorney signed and dated by the principal with\nthe signature of the principal duly acknowledged in the manner\nprescribed for the acknowledgement of a conveyance of real property, and\nwhich is executed pursuant to the requirements of section 5-1501B of\nthis title, and\n (b) with respect to totten trust accounts existing at the creation of\nthe agency, the authority granted hereby shall not include the power to\nadd, delete, or otherwise change the designation of beneficiaries in\neffect for any such accounts, unless the authority to make such\nadditions, deletions or changes is expressly stated otherwise in the\n"Modifications" section of a statutory short form power of attorney or\nin a non-statutory power of attorney signed and dated by the principal\nwith the signature of the principal duly acknowledged in the manner\nprescribed for the acknowledgment of a conveyance of real property, and\nwhich is executed pursuant to the requirements of section 5-1501B of\nthis title.\n 2. To open in the name of the principal or on behalf of the principal\na deposit account of any type with any banker or in any banking\ninstitution selected by the agent, to make deposits to and withdrawals\nfrom any such deposit account, to hire such safe deposit box or vault\nspace and to make such other contracts for the procuring of other\nservices made available by any such banker or banking institution as the\nagent shall think to be desirable;\n 3. To make, to sign and to deliver checks or drafts for any purpose,\nto withdraw by check, order or otherwise any funds or property of the\nprincipal deposited with, or left in the custody of, any banker or\nbanking institution, wherever located, either before or after the\ncreation of the agency;\n 4. To prepare from time to time financial statements concerning the\nassets and liabilities or income and expenses of the principal, and to\ndeliver statements so prepared to any banker, banking institution or\nother person, whom the agent believes to be reasonably entitled thereto;\n 5. To receive statements, vouchers, notices or other documents from\nany banker or banking institution and to act with respect thereto;\n 6. To have free access at any time or times to any safe deposit box or\nvault to which the principal might have access, if personally present;\n 7. To borrow money by bank overdraft, or by promissory note of the\nprincipal given for such period and at such interest rate as the agent\nshall select, to give such security out of the assets of the principal\nas the agent shall think to be desirable or necessary for any such\nborrowing, to pay, to renew or to extend the time of payment of any note\nso given or given by or on behalf of the principal, and to procure for\nthe principal a loan from any banker or banking institution by any other\nprocedure made available by such banker or institution;\n 8. To make, to assign, to indorse, to discount, to guarantee, and to\nnegotiate, for any and all pur
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