§ 54‑109.62A.  Powers of attorney; notice of revocation; payment after notice.

(a) Any credit union may continue to recognize any act of an attorney‑in‑fact or other agent until the credit union receives actual notice of the principal's death or a written notice of revocation signed by the principal who granted the authority or, in the case of a company, evidence satisfactory to the credit union of the revocation. Payment by the credit union to or at the direction of an attorney‑in‑fact or other agent before receipt of the notice is a total discharge of the credit union's obligation as to the amount so paid.

(b) Notwithstanding that a credit union has received written notice of revocation of the authority of an attorney‑in‑fact or other designated agent, a credit union may, until 10 days after receipt of notice, pay any item made, drawn, accepted, or endorsed by the attorney‑in‑fact or agent prior to the revocation, provided that the item is otherwise properly payable. (2013‑132, s. 3.)