HB26 Alabama 2011 Session

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

To add a new Chapter 1A of Title 26 of the Code of Alabama 1975; to provide for the Alabama Uniform Power of Attorney Act; to generally provide for definitions and applicability; to provide for when a power of attorney is durable; to provide for the execution, validity, meaning, effect, and termination of a power of attorney; to provide for the nomination of a conservator or guardian; to provide for an agent, co-agents, and successor agents and duties of the agent; to provide for the authority of a power of attorney; to provide for an agent's liability to the principal; to provide a power of attorney form and a form of an agent's certification; to provide for the effect on existing powers of attorney; to provide for health care powers of attorney executed after the effective date of this act; and to amend Section 26-1-2 of the Code of Alabama 1975, relating to a durable power of attorney.