- Alaska Statutes.
- Title 45. Trade and Commerce
- Chapter 4. Bank Deposits and Collections
- Section 405. Death or Incompetence of a Customer.
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AS 45.04.405. Death or Incompetence of a Customer.
- (a) A payor or collecting bank's authority to accept, pay, or collect an item or to account for proceeds of its collection
if otherwise effective is not rendered ineffective by incompetence of a customer of either bank existing at the time
the item is issued or its collection is undertaken if the bank does not know of an adjudication of incompetence.
Neither death nor incompetence of a customer revokes this authority to accept, pay, collect, or account until the bank
knows of the fact of death or of an adjudication of incompetence and has reasonable opportunity to act on it.
- (b) Even with knowledge a bank may, for 10 days after the date of death, pay or certify checks drawn on or before that
date unless ordered to stop payment by a person claiming an interest in the account.
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