<html xmlns="http://www.w3.org/1999/xhtml"><head><meta charset="UTF-8" /><meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 59-12-30 - Banks and other financial institutions.</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2078760Normal { text-indent: 0.50in; text-align: justify; line-height: 108%; margin-top: 0; margin-left: 0; margin-right: 0; margin-bottom: .001pt; } span.s2078760SENU { font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2078760CL { font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2078760DefaultParagraphFont { font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2078760StatuteNumber1 { margin-left: 0.75in; text-indent: -0.50in; text-align: justify; line-height: 108%; margin-top: 0; margin-right: 0; margin-bottom: .001pt; } span.s2078760000000 { font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2078760NoIndent { text-indent: 0.00in; text-align: justify; line-height: 108%; margin-top: 0; margin-left: 0; margin-right: 0; margin-bottom: .001pt; } span.s2078760DefaultParagraphFont-000001 { font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2078760SCL { font-style: normal; font-weight: normal; margin: 0; padding: 0; } body { text-decoration-skip-ink: none; } </style></head><body><div><p dir="ltr" class="s2078760Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=59-12-30"><span class="s2078760SENU">59-12-30</span></a><span xml:space="preserve" class="s2078760SENU">. </span><span class="s2078760CL">Banks and other financial institutions.</span></p><p dir="ltr" class="s2078760Normal"><span class="s2078760DefaultParagraphFont">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:</span></p><p dir="ltr" class="s2078760StatuteNumber1"><span class="s2078760DefaultParagraphFont">(1)    Continue, modify, and terminate an account or other banking arrangement made by or on behalf of the principal;</span></p><p dir="ltr" class="s2078760StatuteNumber1"><span class="s2078760DefaultParagraphFont">(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;</span></p><p dir="ltr" class="s2078760StatuteNumber1"><span class="s2078760DefaultParagraphFont">(3)    Contract for services available from a financial institution, including renting a safe deposit box or space in a vault;</span></p><p dir="ltr" class="s2078760StatuteNumber1"><span class="s2078760DefaultParagraphFont">(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;</span></p><p dir="ltr" class="s2078760StatuteNumber1"><span class="s2078760DefaultParagraphFont">(5)    Receive statements of account, vouchers, notices, and similar documents from a financial institution and act with respect to them;</span></p><p dir="ltr" class="s2078760StatuteNumber1"><span class="s2078760DefaultParagraphFont">(6)    Enter a safe deposit box or vault and withdraw or add to the contents;</span></p><p dir="ltr" class="s2078760StatuteNumber1"><span class="s2078760DefaultParagraphFont">(7)    Borrow money and pledge as security personal property of the principal necessary to borrow money or pay, renew, or extend the time of payment of a debt of the principal or a debt guaranteed by the principal;</span></p><p dir="ltr" class="s2078760StatuteNumber1"><span class="s2078760DefaultParagraphFont">(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;</span></p><p dir="ltr" class="s2078760StatuteNumber1"><span class="s2078760DefaultParagraphFont">(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;</span></p><p dir="ltr" class="s2078760StatuteNumber1"><span class="s2078760DefaultParagraphFont">(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</span></p><p dir="ltr" class="s2078760StatuteNumber1"><span class="s2078760DefaultParagraphFont">(11)    Consent to an extension of the time of payment with respect to commercial paper or a financial transaction with a financial institution.</span></p><p dir="ltr" class="s2078760Normal"><span xml:space="preserve" class="s2078760000000"> </span></p><p dir="ltr" class="s2078760NoIndent"><span xml:space="preserve" class="s2078760DefaultParagraphFont-000001">Source: </span><span class="s2078760SCL">SL 2020, ch 214, § 30.</span></p></div></body></html>