{"data":{"id":"us-vt/14-v.s.a.-4038","jurisdiction":"us-vt","citation":"14 V.S.A. § 4038","heading":"Banks and other financial institutions","body":"Unless the power of attorney otherwise provides, language in a power of attorney granting general authority with respect to banks and other financial institutions authorizes the agent to:\n(1) continue, modify, and terminate an account or other banking arrangement made by or on behalf of the principal;\n(2) establish, modify, and terminate an account or other banking arrangement with a bank, trust company, savings and loan association, credit union, thrift company, brokerage firm, or other financial institution selected by the agent;\n(3) contract for services available from a financial institution, including renting a safe deposit box or space in a vault;\n(4) withdraw, by check, order, electronic funds transfer, or otherwise, money or property of the principal deposited with or left in the custody of a financial institution;\n(5) receive statements of account, vouchers, notices, and similar documents from a financial institution and act with respect to them;\n(6) enter a safe deposit box or vault and withdraw or add to the contents;\n(7) borrow money and pledge as security personal property of the principal necessary to borrow money or pay, renew, or extend the time of payment of a debt of the principal or a debt guaranteed by the principal;\n(8) make, assign, draw, endorse, discount, guarantee, and negotiate promissory notes, checks, drafts, and other negotiable or nonnegotiable paper of the principal or payable to the principal or the principal’s order; transfer money; receive the cash or other proceeds of those transactions; and accept a draft drawn by a person upon the principal and pay it when due;\n(9) receive for the principal and act upon a sight draft, warehouse receipt, or other document of title whether tangible or electronic, or other negotiable or nonnegotiable instrument;\n(10) apply for, receive, and use letters of credit, credit and debit cards, electronic transaction authorizations, and traveler’s checks from a financial institution and give an indemnity or other agreement in connection with letters of credit; and\n(11) consent to an extension of the time of payment with respect to commercial paper or a financial transaction with a financial institution.","path":["Title 14: Decedents Estates and Fiduciary Relations","Chapter 127: Vermont Uniform Power of Attorney Act","Subchapter 002: AUTHORITY"],"source_url":"https://legislature.vermont.gov/statutes/section/14/127/04038","current_through":"2025 session","vintage":"","retrieved_at":"2026-09-05T17:16:59Z","sha256":"c823e5a10140e5bb66fd532fe8f27f73f11144064e036fac3546ccaef44cb2b2","source_id":"us-vt","stale":false,"prev":"us-vt/14-v.s.a.-4037","next":"us-vt/14-v.s.a.-4039"},"notice":"GroundRules: Original legal text. Not legal advice."}