Current through codified legislation effective September 18, 2024
Section 19-602.05 - Designation of agent(a) By a writing signed by all parties, the parties may designate as agent of all parties on an account a person other than a party.(b) Unless the terms of an agency designation provide that the authority of the agent terminates on disability or incapacity of a party, the agent's authority survives disability and incapacity. The agent may act for an incapacitated party or a party with a disability until the authority of the agent is terminated.(c) Death of the sole party or last surviving party terminates the authority of an agent.Apr. 27, 2001, D.C. Law 13-292, § 302(b), 48 DCR 2087; Apr. 24, 2007, D.C. Law 16-305, § 33(a), 53 DCR 6198.Uniform Law: This section is based upon § 205 of the Uniform Nonprobate Transfers on Death Act (1991 Act).