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.
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 a disabled or incapacitated party until the authority of the agent is terminated.
C. Death of the sole party or last surviving party terminates the authority of an agent.
History: 1978 Comp., § 45-6-205, enacted by Laws 1992, ch. 66, § 22; 2011, ch. 124, § 84.
The 2011 amendment, effective January 1, 2012, provided that the death of the sole party or last surviving party to a writing terminates the authority of an agent.
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