1. (a) 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. (b) 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 an incapacitated party or a party with a disability until the authority of the agent is terminated.
3. (c) Death of the sole party or last surviving party terminates the authority of an agent.

History

Apr. 27, 2001, D.C. Law 13-292, § 302(b), 48 DCR 2087

Apr. 24, 2007, D.C. Law 16-305, § 33(a), 53 DCR 6198

Editor's Notes

Uniform Law: This section is based upon § 205 of the Uniform Nonprobate Transfers on Death Act (1991 Act).

Effect of Amendments

D.C. Law 16-305, in subsec. (b), substituted “an incapacitated party or a party with a disability” for “a disabled or incapacitated party”.