Hawaii Revised Statutes 412:4-108 – No notice of incapacity
Terms Used In Hawaii Revised Statutes 412:4-108
- Contract: A legal written agreement that becomes binding when signed.
- Financial institution: means a Hawaii financial institution, and unless the context indicates otherwise, a federal financial institution or foreign financial institution. See Hawaii Revised Statutes 412:1-109
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- Person: means a natural person, entity or organization, including without limitation an individual, corporation, joint venture, partnership, sole proprietorship, association, cooperative, estate, trust, or governmental unit. See Hawaii Revised Statutes 412:1-109
If a financial institution has not received written notice and is not on actual notice that a deposit account holder has been adjudicated an incapacitated person by a court of competent jurisdiction under applicable law, it may make payments or allow transfers or withdrawals from the account to or on the order of the account holder in accordance with the provisions of its contract with the holder, and such payment, transfer or withdrawal shall operate to release and discharge the financial institution from further liability to the account holder and the holder’s successors in interest with respect to the funds so paid, transferred or withdrawn, and no action at law or equity may be maintained against the financial institution for payment, transfer or withdrawal in accordance with this section.