<a id="pl.1.3"></a><var>1.3</var>form language; making clarifying changes; clarifying filing requirements for <br/>
<a id="pl.1.4"></a><var>1.4</var>appeals to Tax Court;amending Minnesota Statutes 2012, sections 271.06, <br/>
<a id="pl.1.5"></a><var>1.5</var>by adding a subdivision; 524.6-201, subdivision 7, by adding a subdivision; <br/>
<a id="pl.1.6"></a><var>1.6</var>524.6-203; 524.6-204; 524.6-211; 524.6-213, by adding subdivisions; proposing <br/>
<a id="pl.1.7"></a><var>1.7</var>coding for new law in Minnesota Statutes, chapter 524.<br/>
<a id="pl.1.8"></a><var>1.8</var>BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:<br/>
<br/>
<a id="bill.0.1.0"></a><a id="pl.1.9"></a><var>1.9</var>    Section 1. Minnesota Statutes 2012, section 271.06, is amended by adding a <br/>
<a id="pl.1.10"></a><var>1.10</var>subdivision to read:<br/>
<a id="pl.1.11"></a><var>1.11</var>    Subd. 2a. <b>Timely mailing treated as timely filing.</b> (a) If, after the period prescribed <br/>
<a id="pl.1.12"></a><var>1.12</var>by subdivision 2, the original notice of appeal, proof of service upon the commissioner, <br/>
<a id="pl.1.13"></a><var>1.13</var>and filing fee are delivered by mail in the United States to the Tax Court administrator <br/>
<a id="pl.1.14"></a><var>1.14</var>or the court administrator of district court acting as court administrator of the Tax Court, <br/>
<a id="pl.1.15"></a><var>1.15</var>then the date of filing is the date of the United States postmark stamped on the envelope <br/>
<a id="pl.1.16"></a><var>1.16</var>or other appropriate wrapper in which the notice of appeal, proof of service upon the <br/>
<a id="pl.1.17"></a><var>1.17</var>commissioner, and filing fee are mailed.<br/>
<a id="pl.1.18"></a><var>1.18</var>(b) This subdivision applies only if the postmark date falls within the period <br/>
<a id="pl.1.19"></a><var>1.19</var>prescribed by subdivision 2 and the original notice of appeal, proof of service upon the <br/>
<a id="pl.1.20"></a><var>1.20</var>commissioner, and filing fee are deposited in the mail in the United States in an envelope <br/>
<a id="pl.1.21"></a><var>1.21</var>or other appropriate wrapper, postage prepaid, properly addressed to the Tax Court <br/>
<a id="pl.1.22"></a><var>1.22</var>administrator or the court administrator of district court acting as court administrator of <br/>
<a id="pl.1.23"></a><var>1.23</var>the Tax Court.<br/>
<a id="pl.1.24"></a><var>1.24</var>(c) Only the postmark of the United States Postal Service qualifies as proof of <br/>
<a id="pl.1.25"></a><var>1.25</var>timely mailing under this subdivision. Private postage meters do not qualify as proof of <br/>
<a id="pl.2.1"></a><var>2.1</var>timely filing under this subdivision. If the original notice of appeal, proof of service <br/>
<a id="pl.2.2"></a><var>2.2</var>upon the commissioner, and filing fee are sent by United States registered mail, the date <br/>
<a id="pl.2.3"></a><var>2.3</var>of registration is the postmark date. If the original notice of appeal, proof of service <br/>
<a id="pl.2.4"></a><var>2.4</var>upon the commissioner, and filing fee are sent by United States certified mail and the <br/>
<a id="pl.2.5"></a><var>2.5</var>sender's receipt is postmarked by the postal employee to whom the envelope containing <br/>
<a id="pl.2.6"></a><var>2.6</var>the original notice of appeal, proof of service upon the commissioner, and filing fee is <br/>
<a id="pl.2.7"></a><var>2.7</var>presented, the date of the United States postmark on the receipt is the postmark date.<br/>
<a id="pl.2.8"></a><var>2.8</var>(d) A reference in this section to mail in the United States must be treated as <br/>
<a id="pl.2.9"></a><var>2.9</var>including a reference to any designated delivery service and a reference in this section to <br/>
<a id="pl.2.10"></a><var>2.10</var>a postmark by the United States Postal Service must be treated as including a reference <br/>
<a id="pl.2.11"></a><var>2.11</var>to any date recorded or marked by any designated delivery service in accordance with <br/>
<a id="pl.2.12"></a><var>2.12</var>section 7502(f) of the Internal Revenue Code.<br/>
<a id="pl.2.13"></a><var>2.13</var><b>EFFECTIVE DATE.</b>This section is effective for filings delivered by the United <br/>
<a id="pl.2.14"></a><var>2.14</var>States Postal Service with a postmark date after August 1, 2013.<br/>
<br/>
<a id="bill.0.2.0"></a><a id="pl.2.15"></a><var>2.15</var>    Sec. 2. Minnesota Statutes 2012, section 524.6-201, is amended by adding a <br/>
<a id="pl.2.16"></a><var>2.16</var>subdivision to read:<br/>
<a id="pl.2.17"></a><var>2.17</var>    Subd. 2a. <b>Agent.</b> "Agent" means a person authorized to make account transactions <br/>
<a id="pl.2.18"></a><var>2.18</var>for a party.<br/>
<br/>
<a id="bill.0.3.0"></a><a id="pl.2.19"></a><var>2.19</var>    Sec. 3. Minnesota Statutes 2012, section 524.6-201, subdivision 7, is amended to read:<br/>
<a id="pl.2.20"></a><var>2.20</var>    Subd. 7. <b>Party.</b> "Party" means a person who, by the terms of the account, has a <br/>
<a id="pl.2.21"></a><var>2.21</var>present right, subject to request, to payment from a multiple-party account other than as an <br/>
<a id="pl.2.22"></a><var>2.22</var>agent. A P.O.D. payee is a party only after the account becomes payable by reason of the <br/>
<a id="pl.2.23"></a><var>2.23</var>payee surviving the original party. Unless the context otherwise requires, it includes a <br/>
<a id="pl.2.24"></a><var>2.24</var>guardian, conservator, personal representative, or assignee, including an attaching creditor, <br/>
<a id="pl.2.25"></a><var>2.25</var>of a party. It also includes a person identified as a trustee of an account for another whether <br/>
<a id="pl.2.26"></a><var>2.26</var>or not a beneficiary is named, but it does not include any named beneficiary unless the <br/>
<a id="pl.2.27"></a><var>2.27</var>beneficiary has a present right of withdrawal.<br/>
<br/>
<a id="bill.0.4.0"></a><a id="pl.2.28"></a><var>2.28</var>    Sec. 4. Minnesota Statutes 2012, section 524.6-203, is amended to read:<br/>
<a id="pl.2.29"></a><var>2.29</var><b>524.6-203 OWNERSHIP DURING LIFETIME.</b><br/>
<a id="pl.2.30"></a><var>2.30</var>(a) A joint account belongs, during the lifetime of all parties, to the parties in <br/>
<a id="pl.2.31"></a><var>2.31</var>proportion to the net contributions by each to the sums on deposit, unless there is clear and <br/>
<a id="pl.2.32"></a><var>2.32</var>convincing evidence of a different intent.<br/>
<a id="pl.3.1"></a><var>3.1</var>(b) A P.O.D. account belongs to the original purchasing or depositing party during <br/>
<a id="pl.3.2"></a><var>3.2</var>the party's lifetime and not to the P.O.D. payee or payees; if two or more parties are named <br/>
<a id="pl.3.3"></a><var>3.3</var>as original parties, during their lifetimes, rights as between them are governed by clause<br/>
<a id="pl.3.4"></a><var>3.4</var> paragraph (a).<br/>
<a id="pl.3.5"></a><var>3.5</var>(c) An agent in an account with an agency designation has no beneficial right to <br/>
<a id="pl.3.6"></a><var>3.6</var>sums on deposit by virtue of being named as an agent.<br/>
<br/>
<a id="bill.0.5.0"></a><a id="pl.3.7"></a><var>3.7</var>    Sec. 5. Minnesota Statutes 2012, section 524.6-204, is amended to read:<br/>
<a id="pl.3.8"></a><var>3.8</var><b>524.6-204 RIGHT OF SURVIVORSHIP.</b><br/>
<a id="pl.3.9"></a><var>3.9</var>(a) Sums remaining on deposit at the death of a party to a joint account belong to the <br/>
<a id="pl.3.10"></a><var>3.10</var>surviving party or parties as against the estate of the decedent unless: (1) there is clear and <br/>
<a id="pl.3.11"></a><var>3.11</var>convincing evidence of a different intention,; or (2) there is a different disposition made <br/>
<a id="pl.3.12"></a><var>3.12</var>by a valid will as herein provided, specifically referring to such account, as provided in <br/>
<a id="pl.3.13"></a><var>3.13</var>this section. If there are two or more surviving parties, their respective ownerships during <br/>
<a id="pl.3.14"></a><var>3.14</var>lifetime shall be in proportion to their previous ownership interests under section 
         <statute_ref>524.6-203</statute_ref> <br/>
<a id="pl.3.15"></a><var>3.15</var>augmented by an equal share for each survivor of any interest the decedent may have owned <br/>
<a id="pl.3.16"></a><var>3.16</var>in the account immediately before death; and the right of survivorship continues between <br/>
<a id="pl.3.17"></a><var>3.17</var>the surviving parties. The interest so determined is also the interest disposable by will.<br/>
<a id="pl.3.18"></a><var>3.18</var>(b) If the account is a P.O.D. account, on the death of the original party or of the <br/>
<a id="pl.3.19"></a><var>3.19</var>survivor of two or more original parties, any sums remaining on deposit belong to the <br/>
<a id="pl.3.20"></a><var>3.20</var>P.O.D. payees if surviving, or to the survivor of them if one or more die before the <br/>
<a id="pl.3.21"></a><var>3.21</var>surviving original party; if two or more P.O.D. payees survive, there is no right of <br/>
<a id="pl.3.22"></a><var>3.22</var>survivorship in event of death of a P.O.D. payee thereafter unless the terms of the account <br/>
<a id="pl.3.23"></a><var>3.23</var>or deposit agreement expressly provide for survivorship between them.<br/>
<a id="pl.3.24"></a><var>3.24</var>(c) In other cases, the death of any party to a multiple-party account has no effect <br/>
<a id="pl.3.25"></a><var>3.25</var>on beneficial ownership of the account other than to transfer the rights of the decedent <br/>
<a id="pl.3.26"></a><var>3.26</var>as part of the estate.<br/>
<a id="pl.3.27"></a><var>3.27</var>(d) A right of survivorship arising from the express terms of the account, or under <br/>
<a id="pl.3.28"></a><var>3.28</var>this section, or under a P.O.D. payee designation, may be changed by specific reference by <br/>
<a id="pl.3.29"></a><var>3.29</var>will, but the terms of such will shall not be binding upon any financial institution unless <br/>
<a id="pl.3.30"></a><var>3.30</var>it has been given a notice in writing of a claim thereunder, in which event the deposit <br/>
<a id="pl.3.31"></a><var>3.31</var>shall remain undisbursed until an order has been made by the probate court adjudicating <br/>
<a id="pl.3.32"></a><var>3.32</var>the decedent's interest disposable by will.<br/>
<br/>
<a id="bill.0.6.0"></a><a id="pl.3.33"></a><var>3.33</var>    Sec. 6. Minnesota Statutes 2012, section 524.6-211, is amended to read:<br/>
<a id="pl.3.34"></a><var>3.34</var><b>524.6-211 FINANCIAL INSTITUTION PROTECTION; DISCHARGE.</b><br/>
<a id="pl.4.1"></a><var>4.1</var>Payment made pursuant to sections 
         <statute_ref>524.6-208</statute_ref> to 
         <statute_ref>524.6-210</statute_ref> discharges the financial <br/>
<a id="pl.4.2"></a><var>4.2</var>institution from all claims for amounts so paid whether or not the payment is consistent <br/>
<a id="pl.4.3"></a><var>4.3</var>with the beneficial ownership of the account as between parties, P.O.D. payees, or <br/>
<a id="pl.4.4"></a><var>4.4</var>beneficiaries by will or otherwise, or their successors. The protection here given does not <br/>
<a id="pl.4.5"></a><var>4.5</var>extend to payments made after a financial institution has received written notice from <br/>
<a id="pl.4.6"></a><var>4.6</var>any person entitled to request payment to the effect that withdrawals in accordance with <br/>
<a id="pl.4.7"></a><var>4.7</var>the terms of the account, including one having an agency designation, should not be <br/>
<a id="pl.4.8"></a><var>4.8</var>permitted, and the financial institution has had a reasonable opportunity to act on it when <br/>
<a id="pl.4.9"></a><var>4.9</var>the payment is made. Unless the notice is withdrawn by the person giving it, the successor <br/>
<a id="pl.4.10"></a><var>4.10</var>of any deceased party and all other parties entitled to payment must concur in any demand <br/>
<a id="pl.4.11"></a><var>4.11</var>for withdrawal if the financial institution is to be protected under this section. No other <br/>
<a id="pl.4.12"></a><var>4.12</var>notice or any other information shown to have been available to a financial institution <br/>
<a id="pl.4.13"></a><var>4.13</var>shall affect its right to the protection provided here. A financial institution that receives <br/>
<a id="pl.4.14"></a><var>4.14</var>written notice pursuant to this section or that otherwise has reason to believe that a dispute <br/>
<a id="pl.4.15"></a><var>4.15</var>exists as to the rights of the parties may refuse, without liability, to make payments in <br/>
<a id="pl.4.16"></a><var>4.16</var>accordance with the terms of the account. The protection here provided shall not affect <br/>
<a id="pl.4.17"></a><var>4.17</var>the rights of parties in disputes between themselves or their successors concerning the <br/>
<a id="pl.4.18"></a><var>4.18</var>beneficial ownership of funds in, or withdrawn from, multiple-party accounts.<br/>
<br/>
<a id="bill.0.7.0"></a><a id="pl.4.19"></a><var>4.19</var>    Sec. 7. Minnesota Statutes 2012, section 524.6-213, is amended by adding a <br/>
<a id="pl.4.20"></a><var>4.20</var>subdivision to read:<br/>
<a id="pl.4.21"></a><var>4.21</var>    Subd. 3. <b>Contract of deposit; sample form.</b> A contract of deposit that contains <br/>
<a id="pl.4.22"></a><var>4.22</var>provisions in substantially the following form establishes the type of account provided, and <br/>
<a id="pl.4.23"></a><var>4.23</var>the account is governed by the provisions of this part applicable to an account of that type:<br/>

<table>
<col width="50px"/>
<col width="5"/>
<col width="5"/>
<col width="25"/>
<col width="30"/>
<tr>
<td><a id="pl.4.25"></a><var>4.25</var><br/>
</td>
<td colspan="3"> PARTIES [Name One Or More Parties]:<br/>
</td>
<td></td>
</tr>
<tr>
<td></td>
<td></td>
<td></td>
<td></td>
<td></td>
</tr>
<tr>
<td><a id="pl.4.26"></a><var>4.26</var><br/>
</td>
<td colspan="3"> <br/>
<span>
                     							.....
                     						</span></td>
<td><span>
                     							.....
                     						</span><br/>
</td>
</tr>
<tr>
<td></td>
<td></td>
<td></td>
<td></td>
<td></td>
</tr>
<tr>
<td><a id="pl.4.27"></a><var>4.27</var><br/>
</td>
<td colspan="3"> OWNERSHIP [Select One And Initial]:<br/>
</td>
<td></td>
</tr>
<tr>
<td><a id="pl.4.28"></a><var>4.28</var><br/>
</td>
<td><span>
                     							.....
                     						</span><br/>
</td>
<td colspan="2"> SINGLE-PARTY ACCOUNT<br/>
</td>
<td></td>
</tr>
<tr>
<td><a id="pl.4.29"></a><var>4.29</var><br/>
</td>
<td><span>
                     							.....
                     						</span><br/>
</td>
<td colspan="2"> MULTIPLE-PARTY ACCOUNT<br/>
</td>
<td></td>
</tr>
<tr>
<td><a id="pl.4.30"></a><var>4.30</var><br/>
<a id="pl.4.31"></a><var>4.31</var><br/>
</td>
<td></td>
<td></td>
<td colspan="2">Parties own account in proportion to net contributions unless there is clear <br/>
and convincing evidence of a different intent.<br/>
</td>
</tr>
<tr>
<td></td>
<td></td>
<td></td>
<td></td>
<td></td>
</tr>
<tr>
<td><a id="pl.4.32"></a><var>4.32</var><br/>
</td>
<td colspan="4"> RIGHTS AT DEATH [Select One And Initial]:<br/>
</td>
</tr>
<tr>
<td></td>
<td></td>
<td></td>
<td></td>
<td></td>
</tr>
<tr>
<td><a id="pl.4.33"></a><var>4.33</var><br/>
</td>
<td><span>
                     							.....
                     						</span><br/>
</td>
<td colspan="2"> SINGLE-PARTY ACCOUNT<br/>
</td>
<td></td>
</tr>
<tr>
<td><a id="pl.4.34"></a><var>4.34</var><br/>
</td>
<td></td>
<td></td>
<td colspan="2">At death of party, ownership passes as part of party's estate.<br/>
</td>
</tr>
<tr>
<td><a id="pl.4.35"></a><var>4.35</var><br/>
<a id="pl.4.36"></a><var>4.36</var><br/>
</td>
<td valign="top"><span>
                     							.....
                     						</span><br/>
</td>
<td colspan="3" valign="top"> SINGLE-PARTY ACCOUNT WITH P.O.D. (PAYABLE ON DEATH) <br/>
DESIGNATION<br/>
</td>
</tr>
<tr>
<td><a id="pl.5.1"></a><var>5.1</var><br/>
</td>
<td></td>
<td></td>
<td colspan="2">[Name One Or More Beneficiaries]:<br/>
</td>
</tr>
<tr>
<td></td>
<td></td>
<td></td>
<td></td>
<td></td>
</tr>
<tr>
<td><a id="pl.5.2"></a><var>5.2</var><br/>
</td>
<td></td>
<td></td>
<td><span>
                     							.....
                     						</span><br/>
</td>
<td><span>
                     							.....
                     						</span><br/>
</td>
</tr>
<tr>
<td></td>
<td></td>
<td></td>
<td></td>
<td></td>
</tr>
<tr>
<td><a id="pl.5.3"></a><var>5.3</var><br/>
<a id="pl.5.4"></a><var>5.4</var><br/>
</td>
<td></td>
<td></td>
<td colspan="2">At death of party, ownership passes to P.O.D. beneficiaries and is not part <br/>
of party's estate.<br/>
</td>
</tr>
<tr>
<td><a id="pl.5.5"></a><var>5.5</var><br/>
</td>
<td><span>
                     							.....
                     						</span><br/>
</td>
<td colspan="3"> MULTIPLE-PARTY ACCOUNT WITH RIGHT OF SURVIVORSHIP<br/>
</td>
</tr>
<tr>
<td><a id="pl.5.6"></a><var>5.6</var><br/>
</td>
<td></td>
<td></td>
<td colspan="2">At death of party, ownership passes to surviving parties.<br/>
</td>
</tr>
<tr>
<td><a id="pl.5.7"></a><var>5.7</var><br/>
<a id="pl.5.8"></a><var>5.8</var><br/>
</td>
<td valign="top"><span>
                     							.....
                     						</span><br/>
</td>
<td colspan="3" valign="top"> MULTIPLE-PARTY ACCOUNT WITH RIGHT OF SURVIVORSHIP AND <br/>
P.O.D. (PAYABLE ON DEATH) DESIGNATION<br/>
</td>
</tr>
<tr>
<td><a id="pl.5.9"></a><var>5.9</var><br/>
</td>
<td></td>
<td></td>
<td colspan="2">[Name One Or More Beneficiaries]:<br/>
</td>
</tr>
<tr>
<td></td>
<td></td>
<td></td>
<td></td>
<td></td>
</tr>
<tr>
<td><a id="pl.5.10"></a><var>5.10</var><br/>
</td>
<td></td>
<td></td>
<td><span>
                     							.....
                     						</span><br/>
</td>
<td><span>
                     							.....
                     						</span><br/>
</td>
</tr>
<tr>
<td></td>
<td></td>
<td></td>
<td></td>
<td></td>
</tr>
<tr>
<td><a id="pl.5.11"></a><var>5.11</var><br/>
<a id="pl.5.12"></a><var>5.12</var><br/>
</td>
<td></td>
<td></td>
<td colspan="2">At death of last surviving party, ownership passes to P.O.D. beneficiaries <br/>
and is not part of last surviving party's estate.<br/>
</td>
</tr>
<tr>
<td><a id="pl.5.13"></a><var>5.13</var><br/>
</td>
<td><span>
                     							.....
                     						</span><br/>
</td>
<td colspan="3"> MULTIPLE-PARTY ACCOUNT WITHOUT RIGHT OF SURVIVORSHIP<br/>
</td>
</tr>
<tr>
<td><a id="pl.5.14"></a><var>5.14</var><br/>
<a id="pl.5.15"></a><var>5.15</var><br/>
</td>
<td></td>
<td></td>
<td colspan="2">At death of party, deceased party's ownership passes as part of deceased <br/>
party's estate.<br/>
</td>
</tr>
<tr>
<td><a id="pl.5.16"></a><var>5.16</var><br/>
</td>
<td><span>
                     							.....
                     						</span><br/>
</td>
<td colspan="3"> AGENCY DESIGNATION [Optional]<br/>
</td>
</tr>
<tr>
<td><a id="pl.5.17"></a><var>5.17</var><br/>
<a id="pl.5.18"></a><var>5.18</var><br/>
<a id="pl.5.19"></a><var>5.19</var><br/>
</td>
<td></td>
<td></td>
<td colspan="2">Agents may make account transactions for parties but have no ownership <br/>
or rights at death unless named as P.O.D. beneficiaries. [To Add Agency <br/>
Designation To Account, Name One Or More Agents]:<br/>
</td>
</tr>
<tr>
<td></td>
<td></td>
<td></td>
<td></td>
<td></td>
</tr>
<tr>
<td><a id="pl.5.20"></a><var>5.20</var><br/>
</td>
<td></td>
<td></td>
<td><span>
                     							.....
                     						</span><br/>
</td>
<td><span>
                     							.....
                     						</span><br/>
</td>
</tr>
<tr>
<td></td>
<td></td>
<td></td>
<td></td>
<td></td>
</tr>
<tr>
<td><a id="pl.5.21"></a><var>5.21</var><br/>
</td>
<td colspan="3">[Select One And Initial]:<br/>
</td>
<td></td>
</tr>
<tr>
<td><a id="pl.5.22"></a><var>5.22</var><br/>
<a id="pl.5.23"></a><var>5.23</var><br/>
</td>
<td colspan="2" valign="top"><span>
                     							.....
                     						</span><br/>
</td>
<td colspan="2" valign="top">AGENCY DESIGNATION SURVIVES DISABILITY OR INCAPACITY <br/>
OF ANY OR ALL OF THE PARTIES<br/>
</td>
</tr>
<tr>
<td><a id="pl.5.24"></a><var>5.24</var><br/>
<a id="pl.5.25"></a><var>5.25</var><br/>
</td>
<td colspan="2" valign="top"><span>
                     							.....
                     						</span><br/>
</td>
<td colspan="2" valign="top">AGENCY DESIGNATION TERMINATES ON DISABILITY OR <br/>
INCAPACITY OF THE SOLE PARTY OR LAST SURVIVING PARTY<br/>
</td>
</tr>
</table><br/>
<a id="bill.0.8.0"></a><a id="pl.5.26"></a><var>5.26</var>    Sec. 8. Minnesota Statutes 2012, section 524.6-213, is amended by adding a <br/>
<a id="pl.5.27"></a><var>5.27</var>subdivision to read:<br/>
<a id="pl.5.28"></a><var>5.28</var>    Subd. 4. <b>Contract of deposit; generally.</b> A contract of deposit that does not <br/>
<a id="pl.5.29"></a><var>5.29</var>contain provisions in substantially the form provided in subdivision 3 is governed by <br/>
<a id="pl.5.30"></a><var>5.30</var>the provisions of this part applicable to the type of account that most nearly conforms <br/>
<a id="pl.5.31"></a><var>5.31</var>to the depositor's intent.<br/>
<br/>
<a id="bill.0.9.0"></a><a id="pl.5.32"></a><var>5.32</var>    Sec. 9. <b>[524.6-215] DESIGNATION OF AGENT.</b><br/>
<a id="pl.5.33"></a><var>5.33</var>(a) By a writing signed by all parties, or by less than all of the parties if the contract <br/>
<a id="pl.5.34"></a><var>5.34</var>of deposit expressly so provides, the parties may designate, as an agent of all parties <br/>
<a id="pl.5.35"></a><var>5.35</var>on an account, a person other than a party.<br/>
<a id="pl.5.36"></a><var>5.36</var>(b) Unless the terms of an agency designation provide that the authority of the agent <br/>
<a id="pl.5.37"></a><var>5.37</var>terminates on disability or incapacity of a party, the agent's authority survives disability <br/>
<a id="pl.6.1"></a><var>6.1</var>and incapacity. The agent may act for a party until the authority of the agent is terminated <br/>
<a id="pl.6.2"></a><var>6.2</var>by the party, by an attorney-in-fact appointed by the party, or by a conservator appointed <br/>
<a id="pl.6.3"></a><var>6.3</var>to protect the interests of the party.<br/>
<a id="pl.6.4"></a><var>6.4</var>(c) Death of the sole party or last surviving party terminates the authority of an agent.<br/>
<a id="pl.6.5"></a><var>6.5</var>(d) Except as otherwise provided for in section 524.6-211, a financial institution is <br/>
<a id="pl.6.6"></a><var>6.6</var>not liable for account transactions performed at the direction of, or authorized by, an agent <br/>
<a id="pl.6.7"></a><var>6.7</var>under an agency designation for an account if:<br/>
<a id="pl.6.8"></a><var>6.8</var>(1) the financial institution has no actual notice of the termination of the agent's <br/>
<a id="pl.6.9"></a><var>6.9</var>authority before the transaction;<br/>
<a id="pl.6.10"></a><var>6.10</var>(2) the financial institution has no actual knowledge of the death of the sole party <br/>
<a id="pl.6.11"></a><var>6.11</var>or last surviving party; or<br/>
<a id="pl.6.12"></a><var>6.12</var>(3) the agent's authority does not survive the disability or incapacity of all the parties, <br/>
<a id="pl.6.13"></a><var>6.13</var>and the financial institution has not received actual notice of the disability or incapacity.<br/>
<br/>
<a id="bill.0.10.0"></a><a id="pl.6.14"></a><var>6.14</var>    Sec. 10. <b>[524.6-216] TYPES OF ACCOUNT; EXISTING ACCOUNTS.</b><br/>
<a id="pl.6.15"></a><var>6.15</var>(a) An account may be for a single party or multiple parties. A multiple-party <br/>
<a id="pl.6.16"></a><var>6.16</var>account may be with or without a right of survivorship between the parties. Subject to <br/>
<a id="pl.6.17"></a><var>6.17</var>section 524.6-204, either a single-party account or a multiple-party account may have a <br/>
<a id="pl.6.18"></a><var>6.18</var>P.O.D. designation, an agency designation, or both.<br/>
<a id="pl.6.19"></a><var>6.19</var>(b) An account established before, on or after August 1, 2013, whether in the form <br/>
<a id="pl.6.20"></a><var>6.20</var>prescribed in section 524.6-213 or in any other form acceptable to the financial institution, <br/>
<a id="pl.6.21"></a><var>6.21</var>is either a single-party account or a multiple-party account, with or without right of <br/>
<a id="pl.6.22"></a><var>6.22</var>survivorship, and with or without a P.O.D. designation or an agency designation within the <br/>
<a id="pl.6.23"></a><var>6.23</var>meaning of this chapter, and is governed by this chapter.<br/>
<a id="pl.6.24"></a><var>6.24</var>(c) An agency designation created on or after August 1, 2013, is governed by this <br/>
<a id="pl.6.25"></a><var>6.25</var>chapter.<br/>