ORS 708A.515¹
Designation of agent for account
  • powers of agent

Nothing in ORS 708A.455 (Definitions for ORS 708A.455 to 708A.515) to 708A.465 (Ownership of multiple-party accounts), 716.024 (Provisions of Bank Act applicable to Oregon savings banks and Oregon stock savings banks), 723.426 (Joint accounts) or 723.432 (Trust accounts) shall preclude a party to an account from adding the name of another person to such an account with the designation "agent." Such agent shall have no present or future interest in the sums on deposit in such account, but the financial institution may honor requests for payment from such account by such agent, unless the principal is deceased at the time the payment is requested and the financial institution has actual knowledge of such death. Payments from such account by such financial institution at the request of such agent shall discharge such financial institution from all claims for amounts so paid. [1997 c.631 §184]

1 Legislative Counsel Committee, CHAPTER 708A—Regulation of Institutions Generally, https://­www.­oregonlegislature.­gov/­bills_laws/­Archive/­2007ors708A.­pdf (2007) (last ac­cessed Feb. 12, 2009).
 
2 OregonLaws.org contains the con­tents of Volume 21 of the ORS, inserted along­side the per­tin­ent statutes. See the preface to the ORS An­no­ta­tions for more information.
 
3 OregonLaws.org assembles these lists by analyzing references between Sections. Each listed item refers back to the current Section in its own text. The result reveals relationships in the code that may not have otherwise been apparent. Currency Information