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Coding: Words which are struck through are deletions from existing law;
words in boldface type and underscored are additions.
Regular Session, 2012 ENROLLED
SENATE BILL NO. 316
BY SENATOR MARTINY
AN ACT1
To enact R.S. 6:356, relative to financial institutions; to provide relative to the use of a2
power of attorney for certain bank transactions; to provide for revocation of a power3
of attorney; to provide for definitions; to provide for terms, conditions, and4
procedures; and to provide for related matters.5
Be it enacted by the Legislature of Louisiana:6
Section 1. R.S. 6:356 is hereby enacted to read as follows: 7
ยง356. Powers of Attorney; written notice of revocation8
A.(1) Notwithstanding any provision of law to the contrary, any9
federally insured financial institution presented with an original or certified10
true copy of a power of attorney that is sufficient to authorize the named agent11
to transact business in a deposit account, with a certificate of deposit, or with12
other funds on deposit, or sufficient to authorize access to a safe deposit box,13
may rely on the authority designated in such power of attorney as being in full14
force and effect, unless the federally insured financial institution receives15
written notice that such power of attorney has been terminated or revoked and16
the institution has reasonable opportunity to act on it.17
(2) Written notice shall be deemed to be received upon receipt by an18
officer of the federally insured financial institution.19
(3) For the purposes of this Section, "written notice" shall mean a20
writing addressed to the federally insured financial institution indicating that21
the principal has revoked the authority of the agent, or indicating that one of22
the events of termination as specified in Louisiana Civil Code Article 3024 has23
occurred.24
ACT No. 323 SB NO. 316 ENROLLED
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Coding: Words which are struck through are deletions from existing law;
words in boldface type and underscored are additions.
B. A federally insured financial institution shall not be liable for1
transactions or activity by an agent occurring prior to the receipt of written2
notice and a reasonable opportunity to act on it.3
PRESIDENT OF THE SENATE
SPEAKER OF THE HOUSE OF REPRESENTATIVES
GOVERNOR OF THE STATE OF LOUISIANA
APPROVED: