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<law><site_title>Virginia Decoded</site_title><site_url>https://vacode.org</site_url><law_id>55801</law_id><section_number>6.2-1173</section_number><catch_line>Powers of attorney on accounts</catch_line><edition url="https://vacode.org/2025/" slug="2025" current="TRUE" last_updated="">2025</edition><structure><unit label="title" level="1" order_by="1" identifier="6.2">Financial Institutions and Services</unit><unit label="subtitle" level="2" order_by="1" identifier="II">Depository Institutions and Trust Organizations</unit><unit label="chapter" level="3" order_by="1" identifier="11">Savings Institutions</unit><unit label="article" level="4" order_by="1" identifier="6">Accounts</unit></structure><text>
						<section><p>Any <span class="dictionary">savings institution</span> may continue to recognize the authority of an <span class="dictionary">attorney-in-<span class="dictionary">fact</span></span> authorized in writing to manage or to make withdrawals, either in whole or in part, from any <span class="dictionary">account</span> until it receives written notice or is on actual notice of the <span class="dictionary">revocation</span> of his authority. For the purposes of this section, written notice of death of the owner of the <span class="dictionary">account</span> shall constitute written notice of <span class="dictionary">revocation</span> of the authority of his attorney. Written notice of the adjudication of incapacity of an <span class="dictionary">account</span> owner shall constitute written notice of <span class="dictionary">revocation</span> of the authority of his attorney unless under the <span class="dictionary">laws</span> of the Commonwealth the authority of the <span class="dictionary">attorney-in-<span class="dictionary">fact</span></span> survives such adjudication. Payment of the <span class="dictionary">account</span> in accordance with the provisions of this section shall constitute a full discharge and acquittance of the <span class="dictionary">association</span> as to such <span class="dictionary">account</span>.</p></section></text><history>1972, c. 796, &#xA7; 6.1-195.27; 1985, c. 425, &#xA7; 6.1-194.56; 1997, c. 801; 2010, c. 794.</history><metadata></metadata></law>
