The original instrument and the following digest, which constitutes no part of the
legislative instrument, were prepared by Michelle Ridge.
DIGEST
SB 457 Original 2020 Regular Session Price
Present law provides that any federally insured financial institution presented with an original or
certified true copy of a power of attorney that is sufficient to authorize the named agent to transact
certain business may rely on the authority designated in the power of attorney as being in full force
and effect, unless an officer of the financial institution receives written notice that the power of
attorney has been revoked, modified, or terminated, and the institution has had reasonable
opportunity to act on it.
Proposed law retains present law and makes a technical change.
Effective August 1, 2020.
(Amends R.S. 6:311.1(A)(1))