HB26 Alabama 2011 Session

Summary

Primary Sponsor

Bill Poole

Republican

Session

Regular Session 2011

Title

Infants and incompetents, power of attorney, Uniform Power of Attorney Act, Sec. 26-1A-101 to 26-1A-123, inclusive, 26-1A-201 to 26-1A-217, inclusive, 26-1A-301, 26-1A-302, 26-1A-401 to 26-1A-404, inclusive, added; Sec. 26-1-2 am'd.

Description

Existing law provides provisions relating to a durable power of attorney and gifts by a power of attorney.

This bill would provide for the Alabama Uniform Power of Attorney Act.

This bill would generally provide for definitions and applicability; when a power of attorney is durable and the execution, validity, meaning, and effect of a power of attorney; nomination of a conservator or guardian; and for the relation of an agent to a court-appointed fiduciary.

This bill would provide for when a power of attorney is effective and for the termination of a power of attorney or an agent's authority; co-agents and successor agents; reimbursement and compensation of an agent; an agent's acceptance and duties; the exoneration of an agent; and judicial relief.

This bill would provide for an agent's liability to the principal; resignation and notice; acceptance of and reliance upon an acknowledged power of attorney; liability for refusal to accept an acknowledged power of attorney; principles of law and equity; laws applicable to financial institutions and entities; and would provide remedies under other law.

This bill would provide for the authority of a power of attorney that requires specific grants or a grant of general authority; incorporation and construction of authority; the authority over real property, tangible personal property, stocks and bonds, commodities and options; the authority of banks and other financial institutions; the authority of operating an entity or business; authority over insurance and annuities, estates, trusts, and other beneficial interests; claims and litigation; personal and family maintenance; benefits from governmental programs or civil or military service; retirement plans; taxes; and gifts.

This bill would provide a power of attorney form and a form of an agent's certification; provide for uniformity of application and construction; relation of this act to the Electronic Signatures in Global and National Commerce Act; the effect on existing powers of attorney; and provide for health care powers of attorney executed after the effective date of this act.

This bill would also amend existing provisions relating to a durable power of attorney.

Show more Show less

Subjects

Infants and Incompetents