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A simple document called a Power of Attorney can provide the foundation for a wide range of activities to be performed by an agent on behalf of the person who executed the Power. From a banker’s standpoint, however, powers of attorney can be challenging to deal with because they can be broad or narrow, clearly written or difficult to understand. They can take effect immediately or spring into effect upon certain circumstances. They can be revoked. They can also terminate automatically upon certain events. The OBA Legal and Compliance Team talks to Oklahoma bankers on an almost daily basis about issues with powers of attorney. We understand what you need to know about them to do your job. The purpose of this seminar is to deconstruct these sometimes complex legal documents to help you understand precisely what you need to know to properly deal with powers of attorney under Oklahoma law. We’ll cover the Oklahoma statutes with special emphasis on the new Power of Attorney Act that is effective November 1, 2021. This seminar will help you understand how powers of attorney work, what language to look for, and how to avoid problems.
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