Issued by FDIC
§ 4022. Power of attorney
[Section 702 of the Act.]
(a) AUTOMATIC EXTENSION-
A power of attorney of a servicemember shall be automatically extended for the period the servicemember is in a missing status (as defined in section 551(2) of title 37, United States Code) if the power of attorney--
(1) was duly executed by the servicemember--
(A) while in military service; or
(B) before entry into military service but after the servicemember--
(i) received a call or order to report for military service; or
(ii) was notified by an official of the Department of Defense that the person could receive a call or order to report for military service;
(2) designates the servicemember's spouse, parent, or other named relative as the servicemember's attorney in fact for certain, specified, or all purposes; and
(3) expires by its terms after the servicemember entered a missing status.
(b) LIMITATION ON POWER OF ATTORNEY EXTENSION-
A power of attorney executed by a servicemember may not be extended under subsection (a) if the document by its terms clearly indicates that the power granted expires on the date specified even though the servicemember, after the date of execution of the document, enters a missing status.