Connecticut Statutory Durable Power Of Attorney Account Page 2
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2(b) No provisions of section 1-56a and this section shall be construed to bar
the use of any other form of power of attorney desired by the parties concerned
or to require a financial institution to offer the power of attorney account
created under this section.
(c) If more than one agent is designated by the principal, such agents, in the
exercise of the powers conferred, shall act jointly unless the principal
specifically provides that they are to act severally.
(d) The authority granted by the execution of a power of attorney in the form
set forth in subsection (a) of this section shall survive the subsequent disability
or incompetence of the principal.
(e) If a conservator of the estate of the principal is appointed, the power of
attorney shall cease at the time of the appointment, and the person acting under
the power of attorney shall account to the conservator rather than to the
principal. If the principal dies, the power 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.
(f) Payment by a financial institution of funds held in a power of attorney
account in accordance with powers authorized pursuant to a power of attorney
in the form set forth in subsection (a) of this section shall be a valid and
sufficient release and discharge of said financial institution from all liability for
all claims for payments so made, unless and until actual written notice of
termination of said power of attorney, including termination by death of the
principal or by reason of the appointment of a conservator of the principal’s
estate, is received by an officer of said financial institution at its main office,
during the regular banking hours and in such time and manner as to afford the
financial institution a reasonable opportunity to act, but in no event less than
two business days
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