Legal Question in Banking Law in Russian Federation

How can POA release bank account after the death of the principal?

I am a Power of Attorney for my friendís bank account in Indiana.This person, who was the citizen of Russia, died in the car accident in Moscow, Russia.

Since ďa Power of Attorney is automatically revoked by the death of the principalĒ, the bank locked the account.

What needs to be done in order to release funds so I can send money to the family?

Thank you for the explanations.


Asked on 8/31/02, 9:47 pm

1 Answer from Attorneys

Nikitin Vitaly Legal Consultation

Re: How can POA release bank account after the death of the principal?

Hi.

From your letter, unfortunately it is not clear, what such registration record of release –őņ?

From whom (from the organization, the enterprise or from the citizen) she (it) was initially given the letter of attorney to your friend from Russia? If this enterprise or the organization that in what country she(it) is registered?

If you issued the letter of attorney that to you it is necessary to write out the new letter of attorney on other persons. If the letter of attorney is given by the enterprise either other legal or physical person that to answer your question on

Up to to know in what country this enterprise it is registered, in what organization-legal form, and a composition of this enterprise

According to 188 clauses (articles) of the Civil Code of Russian Federation (RU). Action of the letter of attorney ceases:

1. expiration of the letter of attorney (till 3 years)

2. cancellations of the letter of attorney

3. death of the citizen giving out the letter of attorney

4. death of the citizen to which the letter of attorney is given

And also in other cases stipulated by clause (article) 188 of Civil code RU.

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Answered on 9/03/02, 5:24 pm


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