HF19 Summary

• Allows parties to designate agents on bank accounts to make transactions, with agents having no ownership rights unless also named as payable-on-death (P.O.D.) beneficiaries.

• Establishes a uniform account form for financial institutions specifying account types (single-party, multiple-party, with or without survivorship rights) and optional agency designations.

• Clarifies that agency designations can survive disability or incapacity of account parties unless the account terms specify otherwise, and terminates only upon death of the last surviving party.

• Permits agents' authority to be terminated only by the party, the party's attorney-in-fact, or a conservator, and protects financial institutions from liability when acting on agent instructions without actual notice of termination.

• Establishes that tax appeals filed by U.S. mail are timely if postmarked within the filing deadline, recognizing postmarks from the U.S. Postal Service and designated delivery services as proof of timely filing effective August 1, 2013.