Table of Contents
DURABLE POWER OF ATTORNEY BANK ACCOUNTS
Sec. 1-56a. Definitions.
Sec. 1-56b. Form. Authority. Liability of financial institution.
Secs. 1-56c to 1-56g.
Sec. 1-56a. Definitions. For the purposes of this section and section 1-56b:
(1) "Account" means any account at a financial institution which is in the name of
one or more natural persons and into which deposits may be made;
(2) "Power of attorney account" means an account in the name of a natural person
as principal and with respect to which one or more other natural persons have been
designated as agents with the right to make deposits to and to withdraw funds from or
draw checks on such account;
(3) "Financial institution" means any state bank and trust company, national banking association, state or federally chartered savings bank, state or federally chartered
savings and loan association or state or federally chartered credit union.
(P.A. 89-67, S. 1.)
Sec. 1-56b. Form. Authority. Liability of financial institution. (a) The use of
the following form in the creation of a power of attorney account is authorized and,
when used, shall be construed in accordance with the provisions of this section:
CONNECTICUT STATUTORY DURABLE POWER OF
I, (Insert name and address of principal), do hereby appoint (Insert name and address
of the agent, or each agent, if more than one is designated. If more than one agent is
designated and the principal wishes each agent alone to be able to exercise the power
conferred, insert in this blank the word "severally". Failure to make any insertion or the
insertion of the word "jointly" shall require the agents to act jointly.) my attorney-in-fact to deposit to my credit in account No. (Insert account number) in (Insert name
of financial institution) moneys, negotiable instruments or credits acceptable by said
financial institution for deposit, to withdraw from said account, either personally or by
order payable either to said agent individually or to another payee, all moneys now and
hereafter deposited in my name and to my credit in said account, and to sign in my name
any and all required receipts, orders, drafts and withdrawal slips therefor, giving said
agent full power and authority to do and perform anything whatsoever requisite and
necessary to be done with respect to said account as fully as I might or could do if
personally present, hereby ratifying and confirming all that said agents shall do or cause
to be done by virtue hereof.
This power of attorney shall not be affected by my subsequent disability or incompetence.
Signed this ....day of ...., 20...
(b) No provisions of section 1-56a and this section shall be construed to bar the use
of any other form of power of attorney desired by the parties concerned or to require a
financial institution to offer the power of attorney account created under this section.
(c) If more than one agent is designated by the principal, such agents, in the exercise
of the powers conferred, shall act jointly unless the principal specifically provides that
they are to act severally.
(d) The authority granted by the execution of a power of attorney in the form set forth
in subsection (a) of this section shall survive the subsequent disability or incompetence of
(e) If a conservator of the estate of the principal is appointed, the power of attorney
shall cease at the time of the appointment, and the person acting under the power of
attorney shall account to the conservator rather than to the principal. If the principal
dies, the power of attorney shall cease at the time of the principal's death, and the person
acting under the power of attorney shall account to the fiduciary of the principal's estate.
(f) Payment by a financial institution of funds held in a power of attorney account
in accordance with powers authorized pursuant to a power of attorney in the form set
forth in subsection (a) of this section shall be a valid and sufficient release and discharge
of said financial institution from all liability for all claims for payments so made, unless
and until actual written notice of termination of said power of attorney, including termination by death of the principal or by reason of the appointment of a conservator of the
principal's estate, is received by an officer of said financial institution at its main office,
during the regular banking hours and in such time and manner as to afford the financial
institution a reasonable opportunity to act, but in no event less than two business days.
(P.A. 89-67, S. 2; P.A. 98-52, S. 12.)
History: P.A. 98-52 amended Subsec. (e) by deleting "after the occurrence of the disability or incompetence of the
principal"; (Revisor's note: In 2001 the reference in this section to the date "19.." was changed editorially by the Revisors
to "20.." to reflect the new millennium).
Secs. 1-56c to 1-56g. Reserved for future use.