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Home Forum Q #2 – May Newsletter Q #2 Answer

Q #2 Answer
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9:55 am
May 19, 2010


Admin User

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No. If the bank gets a pre-September 1, 2009 statutory short form POA it must perform its due diligence based on the old POA law. For example, if the agent under a 2005 POA wants to add his name to an account or change the beneficiary on a totten trust account, he may do so and the statutroy major gifts rider would not be in issue in such transaction.
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