Contracts

Passed

P HB 2864

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.
Patron - Moran

P SB 1235

Attorneys-in-fact; death of principal. Clarifies that challenges may be made to actions of an attorney-in-fact and that discovery may be obtained after the death of the principal by a person who was interested in the welfare of the principal, including the personal representative of the estate of the deceased principal. This bill is a recommendation of the Boyd Graves Conference.
Patron - Obenshain

CONTENTS | < PREVIOUS | NEXT > | BILL INDEX

General Assembly>Division of Legislative Services>Publications>Session Summaries>2007>Contracts

E-mail Webmaster