The death of a customer automatically revokes a bank's authority to accept, pay, or collect an item drawn by the customer on an account with the bank.

Question

Quizplus · Accepted Answer

The death of a customer does not immediately revoke the bank's authority to accept, pay, or collect an item drawn by the customer on an account with the bank until the bank knows of the customer's death and has a reasonable opportunity to act on it.

The Death of a Customer Automatically Revokes a Bank's Authority