Powers of Attorney

(a)A bank may continue to recognize the authority of an attorney authorized in writing to operate, in whole or in part, the account of a depositor, until it receives written notice of the revocation of his authority.

(b)Written notice of the death or adjudication of incompetency of such depositor shall constitute written notice of revocation of the authority of his attorney.

(c)Notwithstanding that a bank has received written notice of revocation of the authority of such attorney, it may, until 30 days after receipt of such notice, pay any item made, drawn, accepted or indorsed by such attorney prior to such revocation, provided that such item is otherwise properly payable.

(d)No bank shall be liable for damages, penalty or tax by reason of any payment made pursuant to this section.