Okla. Stat. tit. 58, § 58-3031
This is the official text of Okla. Stat. tit. 58, § 58-3031, part of Oklahoma’s Stat. tit. 58, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 58,." Browse the sections below, each linked to its official government source.
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Banks and other financial institutions
Official statutory text
Unless the power of attorney otherwise provides, language in a
power of attorney granting general authority with respect to banks
and other financial institutions authorizes the agent to:
1. Continue, modify and terminate an account or other banking
arrangement made by or on behalf of the principal;
2. Establish, modify and terminate an account or other banking
arrangement with a bank, trust company, savings and loan
association, credit union, thrift company, brokerage firm or other
financial institution selected by the agent;
3. Contract for services available from a financial
institution, including renting a safe deposit box or space in a
vault;
4. Withdraw, by check, order, electronic funds transfer or
otherwise, money or property of the principal deposited with or left
in the custody of a financial institution;
5. Receive statements of account, vouchers, notices and similar
documents from a financial institution and act with respect to them;
6. Enter a safe deposit box or vault and withdraw or add to the
contents;
7. Borrow money and pledge as security personal property of the
principal necessary to borrow money or pay, renew or extend the time
Oklahoma Statutes - Title 58. Probate Procedure Page 178
of payment of a debt of the principal or a debt guaranteed by the
principal;
8. Make, assign, draw, endorse, discount, guarantee and
negotiate promissory notes, checks, drafts and other negotiable or
nonnegotiable paper of the principal or payable to the principal or
the principal's order, transfer money, receive the cash or other
proceeds of those transactions, and accept a draft drawn by a person
upon the principal and pay it when due;
9. Receive for the principal and act upon a sight draft,
warehouse receipt or other document of title whether tangible or
electronic, or other negotiable or nonnegotiable instrument;
10. Apply for, receive and use letters of credit, credit and
debit cards, electronic transaction authorizations and traveler's
checks from a financial institution and give an indemnity or other
agreement in connection with letters of credit; and
11. Consent to an extension of the time of payment with respect
to commercial paper or a financial transaction with a financial
institution.
power of attorney granting general authority with respect to banks
and other financial institutions authorizes the agent to:
1. Continue, modify and terminate an account or other banking
arrangement made by or on behalf of the principal;
2. Establish, modify and terminate an account or other banking
arrangement with a bank, trust company, savings and loan
association, credit union, thrift company, brokerage firm or other
financial institution selected by the agent;
3. Contract for services available from a financial
institution, including renting a safe deposit box or space in a
vault;
4. Withdraw, by check, order, electronic funds transfer or
otherwise, money or property of the principal deposited with or left
in the custody of a financial institution;
5. Receive statements of account, vouchers, notices and similar
documents from a financial institution and act with respect to them;
6. Enter a safe deposit box or vault and withdraw or add to the
contents;
7. Borrow money and pledge as security personal property of the
principal necessary to borrow money or pay, renew or extend the time
Oklahoma Statutes - Title 58. Probate Procedure Page 178
of payment of a debt of the principal or a debt guaranteed by the
principal;
8. Make, assign, draw, endorse, discount, guarantee and
negotiate promissory notes, checks, drafts and other negotiable or
nonnegotiable paper of the principal or payable to the principal or
the principal's order, transfer money, receive the cash or other
proceeds of those transactions, and accept a draft drawn by a person
upon the principal and pay it when due;
9. Receive for the principal and act upon a sight draft,
warehouse receipt or other document of title whether tangible or
electronic, or other negotiable or nonnegotiable instrument;
10. Apply for, receive and use letters of credit, credit and
debit cards, electronic transaction authorizations and traveler's
checks from a financial institution and give an indemnity or other
agreement in connection with letters of credit; and
11. Consent to an extension of the time of payment with respect
to commercial paper or a financial transaction with a financial
institution.
Status: in_force · Read it on the official government site
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