§ 633b-208

633B.208 Banks and other financial institutions. Unless the power of attorney otherwise provides and subject to section 633B.201, language in a power of attorney granting general authority with respect to banks and other financialinstitutions authorizes the agent to do all of the following: 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, orother financial institution selected by the agent. 3. Contract for services available from a financial institution, including but not limited to 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.

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 of payment of a debt of the principal or adebt 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 tothe principal or the principal’s order, transfer money, receive the cash or other proceeds ofthose transactions, and accept a draft drawn by a person upon the principal and pay thepromissory note, check, draft, or other negotiable or nonnegotiable paper 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 any other negotiable or nonnegotiableinstrument. 10. Apply for, receive, and use letters of credit, credit and debit cards, electronic transaction authorizations, and traveler’s checks from a financial institution

tiable or nonnegotiableinstrument. 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 anindemnity or other agreement in connection with letters of credit. 11. Consent to an extension of the time of payment with respect to commercial paper or a financial transaction with a financial institution. 2014 Acts, ch 1078, §33Referred to in §633B.201, 633B.202, 633B.203 Sat Dec 23 12:14:50 2023 Iowa Code 2024, Section 633B.208 (11, 0)