PWR ATTY PROP-POD BANK ACCT

Amends the Illinois Power of Attorney Act. Provides that the Section that explains the powers granted in the statutory short form power of attorney for property is expanded so that the financial transaction subsection states that an agent may open, close, or control a Totten Trust, a Payable on Death Account, or a similar arrangement with a financial institution, but the agent's authority does not include any powers over accounts titled in the name of a trust pursuant to the Trust and Trustees Act, unless specifically authorized by a person's power of attorney for property. Effective immediately.