SB 14: "An Act relating to relying on and honoring a statutory form power of attorney."
00SENATE BILL NO. 14 01 "An Act relating to relying on and honoring a statutory form power of 02 attorney." 03 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA: 04 * Section 1. AS 13.26.332 is amended to read: 05 Sec. 13.26.332. STATUTORY FORM POWER OF ATTORNEY. A person 06 who wishes to designate another as attorney-in-fact or agent by a power of attorney 07 may execute a statutory power of attorney set out in substantially the following form: 08 GENERAL POWER OF ATTORNEY 09 THE POWERS GRANTED FROM THE PRINCIPAL TO THE AGENT OR 10 AGENTS IN THE FOLLOWING DOCUMENT ARE VERY BROAD. THEY MAY 11 INCLUDE THE POWER TO DISPOSE, SELL, CONVEY, AND ENCUMBER YOUR 12 REAL AND PERSONAL PROPERTY, AND THE POWER TO MAKE YOUR 13 HEALTH CARE DECISIONS. ACCORDINGLY, THE FOLLOWING DOCUMENT 14 SHOULD ONLY BE USED AFTER CAREFUL CONSIDERATION. IF YOU HAVE
01 ANY QUESTIONS ABOUT THIS DOCUMENT, YOU SHOULD SEEK 02 COMPETENT ADVICE. 03 YOU MAY REVOKE THIS POWER OF ATTORNEY AT ANY TIME. 04 Pursuant to AS 13.26.338 - 13.26.353, I, (Name of principal) , of 05 (Address of principal) , do hereby appoint (Name and address of agent or 06 agents) , my attorney(s)-in-fact to act as I have checked below in my name, place, 07 and stead in any way which I myself could do, if I were personally present, with 08 respect to the following matters, as each of them is defined in AS 13.26.344, to the 09 full extent that I am permitted by law to act through an agent: 10 THE AGENT OR AGENTS YOU HAVE APPOINTED WILL HAVE ALL 11 THE POWERS LISTED BELOW UNLESS YOU DRAW A LINE THROUGH A 12 CATEGORY; AND INITIAL THE BOX OPPOSITE THAT CATEGORY 13 (A) real estate transactions ( ) 14 (B) transactions involving tangible personal property, chattels, 15 and goods ( ) 16 (C) bonds, shares, and commodities transactions ( ) 17 (D) banking transactions ( ) 18 (E) business operating transactions ( ) 19 (F) insurance transactions ( ) 20 (G) estate transactions ( ) 21 (H) gift transactions ( ) 22 (I) claims and litigation ( ) 23 (J) personal relationships and affairs ( ) 24 (K) benefits from government programs and military service ( ) 25 (L) health care services ( ) 26 (M) records, reports, and statements ( ) 27 (N) delegation ( ) 28 (O) all other matters, including those specified as follows: ( ) 29 ___________________________________________________ 30 ___________________________________________________ 31 ___________________________________________________
01 IF YOU HAVE APPOINTED MORE THAN ONE AGENT, CHECK ONE OF 02 THE FOLLOWING: 03 ( ) Each agent may exercise the powers conferred separately, without the 04 consent of another [ANY OTHER] agent. 05 ( ) All agents shall exercise the powers conferred jointly, with the consent 06 of all other agents. 07 TO INDICATE WHEN THIS DOCUMENT SHALL BECOME EFFECTIVE, 08 CHECK ONE OF THE FOLLOWING: 09 ( )This document shall become effective upon the date of my signature. 10 ( ) This document shall become effective upon the date of my disability 11 and shall not otherwise be affected by my disability. 12 IF YOU HAVE INDICATED THAT THIS DOCUMENT SHALL BECOME 13 EFFECTIVE ON THE DATE OF YOUR SIGNATURE, CHECK ONE OF THE 14 FOLLOWING: 15 ( ) This document shall not be affected by my subsequent disability. 16 ( ) This document shall be revoked by my subsequent disability. 17 IF YOU HAVE INDICATED THAT THIS DOCUMENT SHALL BECOME 18 EFFECTIVE UPON THE DATE OF YOUR SIGNATURE AND WANT TO LIMIT 19 THE TERM OF THIS DOCUMENT, COMPLETE THE FOLLOWING: 20 This document shall only continue in effect for ________ ( ) years from the 21 date of my signature. 22 NOTICE OF REVOCATION OF THE POWERS GRANTED IN THIS DOCUMENT 23 You may revoke one or more of the powers granted in this document. Unless 24 otherwise provided in this document, you may revoke a specific power granted in this 25 power of attorney by completing a special power of attorney that includes the specific 26 power in this document that you want to revoke. Unless otherwise provided in this 27 document, you may revoke all the powers granted in this power of attorney by 28 completing a subsequent power of attorney. 29 NOTICE TO THIRD PARTIES 30 A third party who relies on the reasonable representations of an attorney-in-fact 31 as to a matter relating to a power granted by a properly executed statutory power of
01 attorney does not incur any liability to the principal or to the principal's heirs, assigns, 02 or estate as a result of permitting the attorney-in-fact to exercise the authority granted 03 by the power of attorney. A third party who fails to honor a signed and notarized 04 [PROPERLY EXECUTED] statutory form power of attorney when it is presented to 05 the third party may be liable to the principal, the attorney-in-fact, the principal's 06 heirs, assigns, or estate for a civil penalty, plus damages, costs, and fees associated 07 with the failure to comply with the statutory form power of attorney. A third party 08 may not require additional documentation, including affidavits relating to the past 09 or present disability of the principal or the termination of the power of attorney, 10 before honoring the terms of a signed and notarized statutory form power of 11 attorney. If the power of attorney is one which becomes effective upon the disability 12 of the principal, the disability of the principal is established by an affidavit, as required 13 by law. 14 IN WITNESS WHEREOF, I have hereunto signed my name this ______ day 15 of ________________, ______. 16 ____________________________________ 17 Signature of Principal 18 Subscribed and sworn to or affirmed before me at 19 on . 20 ____________________________________ 21 Signature of Officer or Notary. 22 * Sec. 2. AS 13.26.353(b) is amended to read: 23 (b) A third party who relies on the reasonable representations of an 24 attorney-in-fact designated under AS 13.26.332 - 13.26.344 as to a matter relating to 25 a power granted by a signed and notarized [PROPERLY EXECUTED] statutory form 26 power of attorney does not incur a liability to the principal or the principal's heirs, 27 assigns, or estate as a result of permitting the attorney-in-fact to exercise the authority 28 granted by the power of attorney. 29 * Sec. 3. AS 13.26.353(c) is amended to read: 30 (c) A third party shall honor the terms of a signed and notarized 31 [PROPERLY EXECUTED] statutory form power of attorney when presented to the
01 third party. A third party who fails to honor a signed and notarized [PROPERLY 02 EXECUTED] statutory form power of attorney when presented to the third party 03 may be liable in a civil action to the principal, the attorney-in-fact, or the principal's 04 heirs, assigns, or estate for a civil penalty not to exceed $1,000, plus the actual 05 damages, costs, and fees associated with the failure to comply with the statutory form 06 power of attorney. The civil action shall be the exclusive remedy at law for damages. 07 The third party may not require additional documentation, including affidavits 08 relating to the past or present disability of the principal or the termination of the 09 power of attorney, before honoring the terms of a signed and notarized statutory 10 form power of attorney.