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2007 SESSION

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HB 2864 Powers of attorney; duties and liabilities of agents.

Introduced by: Brian J. Moran | all patrons    ...    notes | add to my profiles

SUMMARY AS PASSED: (all summaries)

Duties and liabilities of a holder of a power of attorney.  States that a holder of any power of attorney has a fiduciary relationship with the subject of the power of attorney and may be held liable for any breach of that fiduciary duty. The bill also expands the financial accounting requirement for a holder of the power of attorney from two years prior to the request to five years. The bill also provides that if the holder of the power of attorney is removed from his position by the court due to abuse, neglect, or exploitation of the principal, the holder of the power of attorney shall bear the costs and fees associated with the performance of his duties.


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