Tennessee § 45-3-506 - Power of attorney on accounts.
Full text of Tennessee Tennessee Code Annotated § 45-3-506 — Power of attorney on accounts., with citation guidance and answers to common questions.
§ 45-3-506. Power of attorney on accounts.
Any association may continue to recognize the authority of a power of attorney authorizing in writing as attorney-in-fact to operate, in whole or in part, the account of a depositor, unless and until it receives actual notice of the revocation of authority. Actual notice of the death, adjudication of incompetency, or adjudication of bankruptcy of the depositor shall constitute actual notice of revocation of the authority of the attorney-in-fact, except where the Uniform Durable Power of Attorney Act, compiled in title 34, chapter 6, is applicable. No association shall be liable for damages, penalty, or tax by reason of any payment made pursuant to this section. Acts 1978, ch. 708, § 2.06; T.C.A., § 45-1406; Acts 1983, ch. 299, § 10. Compiler's Notes. For repeal of the former section, see Compiler's Notes to § 45-3-501 . Textbooks. Tennessee Jurisprudence, 22 Tenn. Juris., Savings and Loan Associations, § 11.
Source: official Tennessee text · Last verified 2026-08-27
Frequently Asked Questions About Tennessee § 45-3-506
What does Tennessee Code Annotated § 45-3-506 cover?
Section 45-3-506 ("Power of attorney on accounts.") is part of the Tennessee Code Annotated, the codified statutory law of Tennessee. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Tennessee § 45-3-506?
A common citation format is "Tennessee Code Annotated § 45-3-506" (Tennessee). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Tennessee law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Tennessee official source linked on this page or consult a licensed Tennessee attorney.
How does Tennessee § 45-3-506 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Tennessee can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Tennessee.