HB 8: "An Act relating to powers of attorney and other substitute decision-making documents; relating to the uniform probate code; and providing for an effective date."
00 HOUSE BILL NO. 8 01 "An Act relating to powers of attorney and other substitute decision-making documents; 02 relating to the uniform probate code; and providing for an effective date." 03 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA: 04 * Section 1. AS 13.06.050(1) is repealed and reenacted to read: 05 (1) "agent" means a person granted authority to act for a principal 06 under a power of attorney or to whom an agent's authority is delegated, whether 07 denominated an agent, attorney-in-fact, original agent, coagent, successor agent, or 08 otherwise; 09 * Sec. 2. AS 13.06.050(46) is amended to read: 10 (46) "state" means a state of the United States, the District of 11 Columbia, the Commonwealth of Puerto Rico, the United States Virgin Islands, or a 12 territory or insular possession subject to the jurisdiction of the United States; 13 * Sec. 3. AS 13.06.050 is amended by adding new paragraphs to read: 14 (57) "durable," with respect to a power of attorney, means not
01 terminated by the principal's incapacity; in this paragraph, "incapacity" has the 02 meaning given in AS 13.26.359; 03 (58) "electronic" means relating to technology having electrical, digital, 04 magnetic, wireless, optical, electromagnetic, or similar capabilities; 05 (59) "power of attorney" means a writing or other record that grants 06 authority to an agent to act in the place of the principal, whether or not the term 07 "power of attorney" is used; 08 (60) "principal" means an individual who grants authority to an agent in 09 a power of attorney; 10 (61) "record" means information that is inscribed on a tangible medium 11 or that is stored in an electronic or other medium and is retrievable in perceivable 12 form; 13 (62) "sign" means, with present intent to authenticate or adopt a record, 14 (A) to execute or adopt a tangible symbol; or 15 (B) to attach to or logically associate with the record an 16 electronic sound, symbol, or process. 17 * Sec. 4. AS 13.26 is amended by adding new sections to article 5 to read: 18 Sec. 13.26.326. Agent's acceptance and liability. (a) Except as otherwise 19 provided in the power of attorney, a person accepts appointment as an agent under a 20 power of attorney by exercising authority or performing duties as an agent or by any 21 other assertion or conduct indicating acceptance. 22 (b) An agent that violates a provision in AS 13.26.326 - 13.26.359 is liable to 23 the principal or the principal's successors in interest for the amount required to 24 (1) restore the value of the principal's property to what it would have 25 been had the violation not occurred; and 26 (2) reimburse the principal or the principal's successors in interest for 27 the attorney fees and costs paid on the agent's behalf. 28 Sec. 13.26.327. Agent's duties. (a) Notwithstanding provisions in the power of 29 attorney, an agent that has accepted appointment shall 30 (1) act in accordance with the principal's reasonable expectations to the 31 extent actually known by the agent and, otherwise, in the principal's best interest;
01 (2) act in good faith; and 02 (3) act only within the scope of authority granted in the power of 03 attorney. 04 (b) Except as otherwise provided in the power of attorney, an agent that has 05 accepted appointment shall 06 (1) act loyally for the principal's benefit; 07 (2) act so as not to create a conflict of interest that impairs the agent's 08 ability to act impartially in the principal's best interest; 09 (3) act with the care, competence, and diligence ordinarily exercised by 10 agents in similar circumstances; 11 (4) keep a record of all receipts, disbursements, and transactions made 12 on behalf of the principal; 13 (5) cooperate with a person that has authority to make health care 14 decisions for the principal to carry out the principal's reasonable expectations to the 15 extent actually known by the agent and, otherwise, act in the principal's best interest; 16 and 17 (6) attempt to preserve the principal's estate plan, to the extent actually 18 known by the agent, if preserving the plan is consistent with the principal's best 19 interest based on all relevant factors, including 20 (A) the value and nature of the principal's property; 21 (B) the principal's foreseeable obligations and need for 22 maintenance; 23 (C) minimization of taxes, including income, estate, inheritance, 24 generation-skipping transfer, and gift taxes; and 25 (D) eligibility for a benefit, a program, or assistance under a 26 statute or regulation. 27 (c) An agent that acts in good faith is not liable to any beneficiary of the 28 principal's estate plan for failure to preserve the plan. 29 (d) An agent that acts with care, competence, and diligence for the best interest 30 of the principal is not liable solely because the agent also benefits from the act or has 31 an individual or conflicting interest in relation to the property or affairs of the
01 principal. 02 (e) If an agent is selected by the principal because of special skills or expertise 03 possessed by the agent or in reliance on the agent's representation that the agent has 04 special skills or expertise, the special skills or expertise must be considered in 05 determining whether the agent has acted with care, competence, and diligence under 06 the circumstances. 07 (f) Absent a breach of duty to the principal, an agent is not liable if the value of 08 the principal's property declines. 09 (g) An agent that exercises authority to delegate to another person the authority 10 granted by the principal or that engages another person on behalf of the principal is not 11 liable for an act, error of judgment, or default of that person if the agent exercises care, 12 competence, and diligence in selecting and monitoring the person. 13 (h) Except as otherwise provided in the power of attorney, an agent is not 14 required to disclose receipts, disbursements, or transactions conducted on behalf of the 15 principal unless ordered by a court or requested by the principal, a guardian, a 16 conservator, another fiduciary acting for the principal, a governmental agency having 17 authority to protect the welfare of the principal, or, upon the death of the principal, the 18 personal representative or successor in interest of the principal's estate. If so requested, 19 within 30 days the agent shall comply with the request or provide a writing or other 20 record substantiating why additional time is needed and shall comply with the request 21 within an additional 30 days. 22 Sec. 13.26.328. Acceptance of power of attorney. (a) A third party asked to 23 accept a power of attorney may request, and rely upon, without further investigation 24 (1) an agent's certification under penalty of perjury of any factual 25 matter concerning the principal, agent, or power of attorney; 26 (2) an English translation of the power of attorney if the power of 27 attorney contains, in whole or in part, language other than English; and 28 (3) an opinion of counsel as to any matter of law concerning the power 29 of attorney if the person making the request provides in a writing or other record the 30 reason for the request. 31 (b) An English translation or an opinion of counsel requested under this section
01 must be provided at the principal's expense unless the request is made more than seven 02 business days after the power of attorney is presented for acceptance. 03 (c) For purposes of this section, a person that conducts activities through 04 employees is without actual knowledge of a fact relating to a principal, agent, or 05 power of attorney if the employee conducting the transaction involving the power of 06 attorney is without actual knowledge of the fact. 07 (d) Except as otherwise provided in (e) of this section, 08 (1) a person shall accept an acknowledged power of attorney or request 09 a certification, a translation, or an opinion of counsel under (a) of this section not later 10 than seven business days after presentation of the power of attorney for acceptance; 11 (2) if a person requests a certification, a translation, or an opinion of 12 counsel under (a) of this section, the person shall accept the power of attorney not later 13 than five business days after receipt of the certification, translation, or opinion of 14 counsel; and 15 (3) a person may not require an additional or different form of power of 16 attorney for authority granted in the power of attorney presented. 17 (e) A person is not required to accept an acknowledged power of attorney if 18 (1) the person is not otherwise required to engage in a transaction with 19 the principal in the same circumstances; 20 (2) engaging in a transaction with the agent or principal in the same 21 circumstances would be inconsistent with federal law; 22 (3) the person has actual knowledge of the termination of the agent's 23 authority or of the power of attorney before exercise of the power; 24 (4) a request for a certification, a translation, or an opinion of counsel 25 under (a) of this section is refused; 26 (5) the person in good faith believes that the power is not valid or that 27 the agent does not have the authority to perform the act requested, whether or not a 28 certification, a translation, or an opinion of counsel under (a) of this section has been 29 requested or provided; or 30 (6) the person makes, or has actual knowledge that another person has 31 made, a report to Department of Health and Social Services or other governmental
01 agency, stating a good faith belief that the principal may be subject to physical or 02 financial abuse, neglect, exploitation, or abandonment by the agent or a person acting 03 for or with the agent. 04 (f) A person that refuses in violation of this section to accept an acknowledged 05 power of attorney is subject to 06 (1) a court order mandating acceptance of the power of attorney; and 07 (2) liability as provided by court rules of this state for attorney fees and 08 costs incurred in any action or proceeding that confirms the validity of the power of 09 attorney or mandates acceptance of the power of attorney. 10 Sec. 13.26.329. Termination of power of attorney; agent's resignation; 11 notice. (a) Except as provided in AS 13.26.356, a power of attorney terminates when 12 (1) the principal dies; 13 (2) there is an incapacity of the principal, if the power of attorney is not 14 durable; 15 (3) the principal revokes the power of attorney; 16 (4) the power of attorney provides that it terminates; 17 (5) the purpose of the power of attorney is accomplished; or 18 (6) the principal revokes the agent's authority, there is an incapacity of 19 the agent, the agent dies, or the agent resigns, and the power of attorney does not 20 provide for another agent to act under the power of attorney. 21 (b) Unless the power of attorney provides a different method for an agent's 22 resignation, an agent may resign by giving notice to the principal and, if there is an 23 incapacity of the principal, 24 (1) to the conservator or guardian, if one has been appointed for the 25 principal, and a coagent or successor agent; or 26 (2) if there is no person described in (1) of this subsection, to 27 (A) the principal's custodian or caregiver; 28 (B) another person reasonably believed by the agent to have 29 sufficient interest in the principal's welfare; or 30 (C) a governmental agency having statutory authority to protect 31 the welfare of the principal.
01 * Sec. 5. AS 13.26 is amended by adding a new section to article 5 to read: 02 Sec. 13.26.331. Validity of power of attorney executed in another state. A 03 power of attorney executed other than in this state is valid in this state if, when the 04 power of attorney was executed, the execution complied with 05 (1) the law of the jurisdiction where the power of attorney was 06 executed; or 07 (2) the requirements for a military power of attorney under 10 U.S.C. 08 1044b, as amended. 09 * Sec. 6. AS 13.26.332 is amended to read: 10 Sec. 13.26.332. Statutory form power of attorney. A person who wishes to 11 designate another as [ATTORNEY-IN-FACT OR] agent by a power of attorney may 12 execute a statutory power of attorney set out in substantially the following form: 13 GENERAL POWER OF ATTORNEY 14 THE POWERS GRANTED FROM THE PRINCIPAL TO THE 15 AGENT OR AGENTS IN THE FOLLOWING DOCUMENT ARE 16 VERY BROAD. THEY MAY INCLUDE THE POWER TO 17 DISPOSE, SELL, CONVEY, AND ENCUMBER YOUR REAL AND 18 PERSONAL PROPERTY. ACCORDINGLY, THE FOLLOWING 19 DOCUMENT SHOULD ONLY BE USED AFTER CAREFUL 20 CONSIDERATION. IF YOU HAVE ANY QUESTIONS ABOUT 21 THIS DOCUMENT, YOU SHOULD SEEK COMPETENT ADVICE. 22 YOU MAY REVOKE THIS POWER OF ATTORNEY AT 23 ANY TIME. 24 Pursuant to AS 13.26.338 - 13.26.359 [AS 13.26.338 - 25 13.26.353], I, (Name of principal), of (Address of principal), do hereby 26 appoint (Name and address of agent or agents), my agent(s) 27 [ATTORNEY(S)-IN-FACT] to act as indicated below in my name, 28 place, and stead in any way which I myself could do, if I were 29 personally present, with respect to the following matters, as each of 30 them is defined in AS 13.26.344, to the full extent that I am permitted 31 by law to act through an agent:
01 MARK THE BOXES BELOW TO INDICATE THE 02 POWERS YOU WANT TO GIVE YOUR AGENT OR AGENTS. 03 MARK THE BOX FOR "YES" THAT IS OPPOSITE A 04 CATEGORY BELOW TO GIVE YOUR AGENT OR AGENTS 05 THE POWER IN THAT CATEGORY. MARK THE BOX FOR 06 "NO" THAT IS OPPOSITE A CATEGORY BELOW TO 07 INDICATE THAT YOU ARE NOT GIVING YOUR AGENT OR 08 AGENTS THE POWER IN THAT CATEGORY. MARK A BOX 09 FOR EVERY CATEGORY [THE AGENT OR AGENTS YOU 10 HAVE APPOINTED WILL HAVE ALL THE POWERS LISTED 11 BELOW UNLESS YOU DRAW A LINE THROUGH A 12 CATEGORY, AND INITIAL THE BOX OPPOSITE THAT 13 CATEGORY]. 14 YES NO 15 (A) real estate transactions ( ) ( ) 16 (B) transactions involving tangible personal 17 property, chattels, and goods ( ) ( ) 18 (C) bonds, shares, and commodities transactions ( ) ( ) 19 (D) banking transactions ( ) ( ) 20 (E) business operating transactions ( ) ( ) 21 (F) insurance transactions ( ) ( ) 22 (G) estate transactions ( ) ( ) 23 (H) retirement plans [GIFT TRANSACTIONS] ( ) ( ) 24 (I) claims and litigation ( ) ( ) 25 (J) personal relationships and affairs ( ) ( ) 26 (K) benefits from government programs 27 and civil or military service ( ) ( ) 28 (L) records, reports, and statements ( ) ( ) 29 (M) delegation ( ) ( ) 30 (N) voter registration and absentee 31 ballot requests ( ) ( )
01 (O) all other matters, including those 02 specified as follows: ( ) ( ) 03 _________________________________________________________ 04 _________________________________________________________ 05 _________________________________________________________ 06 GRANT OF SPECIFIC AUTHORITY (OPTIONAL) 07 The agent or agents you have appointed WILL NOT have 08 the power to do any of the following acts UNLESS you MARK the 09 box opposite that category: 10 ( ) create, amend, revoke, or terminate an inter vivos trust; 11 ( ) make a gift, subject to the limitations of AS 13.26.344(q) and any 12 special instructions in this power of attorney; 13 ( ) create or change a beneficiary designation; 14 ( ) revoke a transfer on death deed made under AS 13.48. 15 IF YOU HAVE APPOINTED MORE THAN ONE AGENT, 16 MARK [CHECK] ONE OF THE FOLLOWING: 17 ( ) Each agent may exercise the powers conferred separately, without 18 the consent of any other agent. 19 ( ) All agents shall exercise the powers conferred jointly, with the 20 consent of all other agents. 21 TO INDICATE WHEN THIS DOCUMENT SHALL 22 BECOME EFFECTIVE, MARK [CHECK] ONE OF THE 23 FOLLOWING: 24 ( ) This document shall become effective upon the date of my signature. 25 ( ) This document shall become effective upon the date of my 26 incapacity [DISABILITY] and shall not otherwise be affected by my 27 incapacity [DISABILITY]. 28 IF YOU HAVE INDICATED THAT THIS DOCUMENT 29 SHALL BECOME EFFECTIVE ON THE DATE OF YOUR 30 SIGNATURE, MARK [CHECK] ONE OF THE FOLLOWING: 31 ( ) This document shall not be affected by my subsequent incapacity
01 [DISABILITY]. 02 ( ) This document shall be revoked by my subsequent incapacity 03 [DISABILITY]. 04 IF YOU HAVE INDICATED THAT THIS DOCUMENT 05 SHALL BECOME EFFECTIVE UPON THE DATE OF YOUR 06 SIGNATURE AND WANT TO LIMIT THE TERM OF THIS 07 DOCUMENT, COMPLETE THE FOLLOWING: 08 This document shall only continue in effect for ________ ( ) years from 09 the date of my signature. 10 NOTICE OF REVOCATION OF THE POWERS GRANTED 11 IN THIS DOCUMENT 12 You may revoke one or more of the powers granted in this document. 13 Unless otherwise provided in this document, you may revoke a specific 14 power granted in this power of attorney by completing a special power 15 of attorney that includes the specific power in this document that you 16 want to revoke. Unless otherwise provided in this document, you may 17 revoke all the powers granted in this power of attorney by completing a 18 subsequent power of attorney. 19 NOTICE TO THIRD PARTIES 20 A third party who relies on the reasonable representations of an agent 21 [ATTORNEY-IN-FACT] as to a matter relating to a power granted by 22 a properly executed statutory form power of attorney does not incur 23 any liability to the principal or to the principal's heirs, assigns, or estate 24 as a result of permitting the agent [ATTORNEY-IN-FACT] to exercise 25 the authority granted by the power of attorney. A third party who fails 26 to honor a properly executed statutory form power of attorney may be 27 liable to the principal, the agent [ATTORNEY-IN-FACT], the 28 principal's heirs, assigns, or estate for a civil penalty, plus damages, 29 costs, and fees associated with the failure to comply with the statutory 30 form power of attorney. If the power of attorney is one which becomes 31 effective upon the incapacity [DISABILITY] of the principal, the
01 incapacity [DISABILITY] of the principal is established by an 02 affidavit, as required by law. 03 IN WITNESS WHEREOF, I have hereunto signed my name 04 this ____ day of _____________, _________. 05 _________________________________________________________ 06 Signature of Principal 07 Acknowledged before me at _________________________________ 08 ________________________ on ______________________________. 09 Signature of Officer or Notary 10 * Sec. 7. AS 13.26.335 is amended to read: 11 Sec. 13.26.335. Additional optional provisions to statutory form power of 12 attorney. Each of the following provisions may be included in a statutory form power 13 of attorney: 14 (1) [REPEALED. 15 (2)] YOU MAY DESIGNATE AN ALTERNATE 16 AGENT [ATTORNEY-IN-FACT]. ANY ALTERNATE YOU 17 DESIGNATE WILL BE ABLE TO EXERCISE THE SAME 18 POWERS AS THE AGENT(S) YOU NAMED AT THE BEGINNING 19 OF THIS DOCUMENT. IF YOU WISH TO DESIGNATE AN 20 ALTERNATE OR ALTERNATES, COMPLETE THE FOLLOWING: 21 If the agent(s) named at the beginning of this document is unable or 22 unwilling to serve or continue to serve, then I appoint the following 23 agent to serve with the same powers: 24 First alternate or successor agent [ATTORNEY-IN-FACT] 25 _________________________________________________________ 26 (Name and address of alternate) 27 _________________________________________________________ 28 Second alternate or successor agent [ATTORNEY-IN-FACT] 29 _________________________________________________________ 30 (Name and address of alternate) 31 (3) YOU MAY NOMINATE A GUARDIAN OR
01 CONSERVATOR. IF YOU WISH TO NOMINATE A GUARDIAN 02 OR CONSERVATOR, COMPLETE THE FOLLOWING: 03 In the event that a court decides that it is necessary to appoint a 04 guardian or conservator for me, I hereby nominate (Name and address 05 of person nominated) to be considered by the court for appointment to 06 serve as my guardian or conservator, or in any similar representative 07 capacity. 08 * Sec. 8. AS 13.26.341 is amended to read: 09 Sec. 13.26.341. Applicability of provisions of statutory form power of 10 attorney. In the instrument set out in AS 13.26.332 - 13.26.335, 11 (1) if the principal has appointed more than one person to act as 12 [ATTORNEY-IN-FACT OR] agent and failed to mark [CHECK] whether the agents 13 may act "jointly" or "severally," the agents are required to act jointly; 14 (2) if the principal has failed to indicate when the instrument shall 15 become effective, the instrument shall become effective upon the date of the 16 principal's signature; 17 (3) if the principal has indicated that the instrument shall become 18 effective upon the date of the principal's signature or has failed to indicate when the 19 instrument shall become effective and has failed to indicate the effect of the principal's 20 subsequent incapacity [DISABILITY] on the instrument, the instrument shall be 21 revoked by the subsequent incapacity [DISABILITY] of the principal; 22 (4) if the principal has failed to indicate a specific term for the 23 instrument, the instrument shall continue in effect until revoked. 24 * Sec. 9. AS 13.26.344(a) is amended to read: 25 (a) In a statutory form power of attorney, the language conferring general 26 authority with respect to real estate transactions shall be construed to mean that, as to 27 an estate or interest in land of the principal, whether in the state or elsewhere, the 28 principal authorizes the agent to 29 (1) accept as a gift or as security for a loan, demand, buy, lease, 30 receive, or otherwise acquire either ownership or possession of any estate or interest in 31 land;
01 (2) sell, exchange, convey, quitclaim, release, surrender, mortgage, 02 encumber, partition or consent to the partitioning, [REVOKE, CREATE OR MODIFY 03 A TRUST,] grant options concerning, lease or sublet, or otherwise to dispose of, an 04 estate or interest in land; 05 (3) release in whole or in part, assign the whole or a part of, satisfy in 06 whole or in part, and enforce a mortgage, encumbrance, lien, or other claim to land 07 that exists, or is claimed to exist, in favor of the principal; 08 (4) do any act of management or of conservation with respect to an 09 estate or interest in land owned, or claimed to be owned, by the principal, including by 10 way of illustration, but not of restriction, power to insure against any casualty, 11 liability, or loss, obtain or regain possession or protect the estate or interest, pay, 12 compromise, or contest taxes or assessments, or apply for refunds in connection with a 13 payment, compromise, or tax, purchase supplies, hire assistance of labor, and make 14 repairs or alterations in the structures or land; 15 (5) use, develop, modify, alter, replace, remove, erect, or install 16 structures or other improvements on land in which the principal has, or claims to have, 17 an estate or interest; 18 (6) demand, receive, or obtain money or any other thing of value to 19 which the principal is, or may become, or may claim to be entitled as the proceeds of 20 an interest in land or of one or more of the transactions enumerated in this subsection; 21 conserve, invest, disburse, or use anything so received for purposes enumerated in this 22 subsection; and reimburse the agent for an expenditure properly made in the execution 23 of the powers conferred by the statutory form power of attorney; 24 (7) participate in any reorganization with respect to real property and 25 receive and hold any shares of stock or instrument of similar character received under 26 a plan of reorganization, and act with respect to a plan of reorganization, including by 27 way of illustration, but not of restriction, power to sell or otherwise to dispose of 28 shares, to exercise or to sell an option, conversion, or similar right, and to vote in 29 person by the granting of a proxy; 30 (8) agree and contract, in any manner, and with any person and on any 31 terms that the agent may select, for the accomplishment of any of the purposes
01 enumerated in this subsection, and perform, rescind, reform, release, or modify an 02 agreement or contract made by or on behalf of the principal; 03 (9) execute, acknowledge, seal, and deliver a deed, [REVOCATION, 04 DECLARATION OR MODIFICATION OF TRUST,] mortgage, lease, notice, check, 05 or other instrument that the agent considers useful for the accomplishment of any of 06 the purposes enumerated in this subsection; 07 (10) prosecute, defend, submit to arbitration, settle, and propose or 08 accept a compromise with respect to, a claim existing in favor of, or against, the 09 principal based on or involving a real estate transaction or intervene in any related 10 action; 11 (11) hire, discharge, and compensate an attorney, accountant, expert 12 witness, or assistant when the agent considers that action to be desirable for the proper 13 execution of a power described in this subsection, and for the keeping of records about 14 that action; and 15 (12) do any other act or acts that the principal can do through an agent 16 with respect to any estate or interest in land. 17 * Sec. 10. AS 13.26.344(b) is amended to read: 18 (b) In a statutory form power of attorney, the language conferring general 19 authority with respect to tangible personal property, chattels, and goods transactions 20 shall be construed to mean that, as to tangible personal property, chattels, or goods 21 owned by the principal, whether located in the state or elsewhere, the principal 22 authorizes the agent to 23 (1) accept as a gift, or as a security for a loan, reject, demand, buy, 24 receive, or otherwise acquire either ownership or possession of chattels or goods or an 25 interest in the tangible personal property, chattels, or goods; 26 (2) sell, exchange, convey, release, surrender, mortgage, encumber, 27 pledge, hypothecate, pawn, [REVOKE, CREATE, OR MODIFY A TRUST,] grant 28 options concerning, lease or sublet to others, or otherwise dispose of tangible personal 29 property, chattels, or goods or an interest in them; 30 (3) release in whole or in part, assign the whole or a part of, satisfy in 31 whole or in part, and enforce a mortgage, encumbrance, lien, or other claim that exists,
01 or is claimed to exist, in favor of the principal with respect to any tangible personal 02 property, chattels, or goods or an interest in them; 03 (4) do any act of management or of conservation with respect to any 04 tangible personal property, chattels, or goods or to an interest in any tangible personal 05 property, chattels, or goods owned, or claimed to be owned, by the principal, including 06 by way of illustration, but not of restriction, power to insure against any casualty, 07 liability, or loss, obtain or regain possession, or protect the tangible personal property, 08 chattels, or goods or an interest in them, pay, compromise, or contest taxes or 09 assessments, apply for refunds in connection with a payment, compromise, or tax, 10 move from place to place, store for hire or on a gratuitous bailment, use, alter, and 11 make repairs or alterations of any tangible personal property, chattels, or goods, or an 12 interest in them; 13 (5) demand, receive, and obtain money or any other thing of value to 14 which the principal is, or may become, or may claim to be, entitled as the proceeds of 15 any tangible personal property, chattels, or goods or of an interest in them, or of one or 16 more of the transactions enumerated in this subsection, conserve, invest, disburse, or 17 use anything so received for purposes enumerated in this subsection, and reimburse 18 the agent for any expenditures properly made in the execution of the powers conferred 19 by the power of attorney; 20 (6) agree and contract, in any manner, and with any person and on any 21 terms that the agent may select, for the accomplishment of the purposes enumerated in 22 this subsection, and perform, rescind, reform, release, or modify any agreement or 23 contract or any other similar agreement or contract made by or on behalf of the 24 principal; 25 (7) execute, acknowledge, seal, and deliver a conveyance, 26 [REVOCATION, DECLARATION OR MODIFICATION OF TRUST,] mortgage, 27 lease, notice, check or other instrument that the agent considers useful for the 28 accomplishment of the purposes enumerated in this subsection; 29 (8) prosecute, defend, submit to arbitration, settle, and propose or 30 accept a compromise with respect to, a claim existing in favor of, or against, the 31 principal based on or involving a transaction involving tangible personal property,
01 chattels, or goods, or intervene in an action or proceeding; 02 (9) hire, discharge, and compensate an attorney, accountant, expert 03 witness, or assistant when the agent considers the action to be desirable to the proper 04 execution of a power described in this subsection, and for the keeping of records about 05 that action; 06 (10) do any other act or acts that the principal can do through an agent 07 with respect to any chattels or goods or interest in any tangible personal property, 08 chattels, or goods. 09 * Sec. 11. AS 13.26.344(c) is amended to read: 10 (c) In a statutory form power of attorney, the language conferring general 11 authority with respect to bonds, shares, and commodities transactions shall be 12 construed to mean that, with respect to a bond, share, or commodity of the principal, 13 whether in the state or elsewhere, the principal authorizes the agent to 14 (1) accept as a gift, or as a security for a loan, reject, demand, buy, 15 receive, or otherwise acquire either ownership or possession of, a bond, share, or 16 instrument of similar character including, by way of illustration, but not of restriction, 17 stock in a corporation organized under 43 U.S.C. 1601 et seq. (Alaska Native Claims 18 Settlement Act), commodity interest, or an instrument with respect to a bond, share, or 19 instruments of similar character, together with the interest, dividends, proceeds, or 20 other distributions connected with a bond, share, or instrument of a similar character; 21 (2) sell, exchange, transfer, release, surrender, hypothecate, pledge, 22 [REVOKE, CREATE, OR MODIFY A TRUST,] grant options concerning, loan, trade 23 in, or otherwise dispose of a bond, share, instrument of similar character, commodity 24 interest, or a related instrument; 25 (3) release, assign the whole or part of, satisfy in whole or in part, and 26 enforce a pledge, encumbrance, lien, or other claim as to a bond, share, instrument of 27 similar character, commodity interest, or a related interest, when the pledge, 28 encumbrance, lien, or other claim is owned, or claimed to be owned, by the principal; 29 (4) do any act of management or of conservation with respect to a 30 bond, share, instrument of similar character, commodity interest, or a related 31 instrument, owned or claimed to be owned by the principal or in which the principal
01 has or claims to have an interest, including by way of illustration, but not of 02 restriction, power to insure against a casualty, liability, or loss, obtain or regain 03 possession or protect the principal's interest, pay, compromise, or contest taxes or 04 assessments, apply for a refund in connection with a payment, compromise, or tax, 05 consent to and participate in a reorganization, recapitalization, liquidation, merger, 06 consolidation, sale or lease or other change in or revival of a corporation or other 07 association, or in the financial structure of a corporation or other association, or in the 08 priorities, voting rights, or other special rights with respect to a corporation or 09 association, become a depositor with a protective, reorganization or similar committee 10 of the bond, share, other instrument of similar character, commodity interest or a 11 related instrument, belonging to the principal, make a payment reasonably incident to 12 them, and exercise or sell an option, conversion, or similar right, or vote in person or 13 by the granting of a proxy for the accomplishment of the purposes enumerated in this 14 subsection; 15 (5) carry in the name of a nominee selected by the agent evidence of 16 the ownership of a bond, share, other instrument of similar character, commodity 17 interest, or related instrument belonging to the principal; 18 (6) employ, in any way believed to be desirable by the agent, a bond, 19 share, other instrument of similar character, commodity interest, or a related 20 instrument, in which the principal has or claims to have an interest, for the protection 21 or continued operation of a speculative or margin transaction personally begun or 22 personally guaranteed, in whole or in part, by the principal; 23 (7) demand, receive, or obtain money or any other thing of value to 24 which the principal is, or may claim to be, entitled as the proceeds of an interest in a 25 bond, share, other instrument of similar character, commodity interest or a related 26 instrument, or of one or more of the transactions enumerated in this subsection, 27 conserve, invest, disburse, or use anything so received for purposes enumerated in this 28 subsection; and reimburse the agent for an expenditure properly made in the execution 29 of the powers conferred by the statutory form power of attorney; 30 (8) agree and contract, in any manner, and with a broker or other 31 person, and on terms that the agent may select, for the accomplishment of the purposes
01 enumerated in this subsection, and perform, rescind, reform, release, or modify the 02 agreement or contract or other similar agreement made by or on behalf of the 03 principal; 04 (9) execute, acknowledge, seal, and deliver a consent, agreement, 05 authorization, assignment, [REVOCATION, DECLARATION OR MODIFICATION 06 OF TRUST,] notice, waiver of notice, check, or other instrument that the agent 07 considers useful for the accomplishment of the purposes enumerated in this 08 subsection; 09 (10) execute, acknowledge and file a report or certificate required by 10 law or regulation; 11 (11) prosecute, defend, submit to arbitration, settle, and propose or 12 accept a compromise with respect to, a claim existing in favor of, or against, the 13 principal based on or involving a bond, share, or commodity transactions, or intervene 14 in a related action or proceeding; 15 (12) hire, discharge, and compensate an attorney, accountant, expert 16 witness, or assistant when the agent considers that action to be desirable for the proper 17 execution of the powers described in this subsection, and for the keeping of records 18 about that action; and 19 (13) do any other act or acts that the principal can do through an agent, 20 with respect to an interest in a bond, share, or other instrument of similar character, 21 commodity, or instrument with respect to a commodity. 22 * Sec. 12. AS 13.26.344(d) is amended to read: 23 (d) In a statutory form power of attorney, the language conferring general 24 authority with respect to banking transactions shall be construed to mean that, as to a 25 banking transaction engaged in by the principal, whether in the state or elsewhere, the 26 principal authorizes the agent to 27 (1) continue, modify, or terminate a deposit account or other banking 28 arrangement made by or on the behalf of the principal before the execution of the 29 power of attorney; 30 (2) open, either in the name of the agent alone or in the name of the 31 principal alone, or in both their names jointly, a deposit account of any type in a
01 financial institution selected by the agent, hire a safe deposit box or vault space, and 02 enter into contracts for the procuring of other services made available by the 03 institution that the agent considers desirable; 04 (3) make, sign, and deliver checks or drafts for any purpose, and 05 withdraw funds or property of the principal deposited with or left in the custody of a 06 financial institution, wherever located, either before or after the execution of the 07 power of attorney; 08 (4) prepare financial statements concerning the assets and liabilities or 09 income and expenses of the principal, and deliver the statements to a financial 10 institution or person whom the agent believes to be reasonably entitled to them; 11 (5) receive statements, vouchers, notices, or other documents from a 12 financial institution and act with respect to them; 13 (6) have free access to a safe deposit box or vault to which the principal 14 would have access if personally present; 15 (7) borrow money as the agent may determine, give security out of the 16 assets of the principal as the agent considers necessary for the borrowing, and pay, 17 renew, or extend the time of payment of a financial institution by any other procedure 18 made available by the institution; 19 (8) make, assign, endorse, discount, guarantee, use, and negotiate 20 promissory notes, bills of exchange, checks, drafts, credit and debit cards, electronic 21 transaction authorizations, or other negotiable or nonnegotiable paper of the 22 principal, or payable to the principal or to the principal's order, receive the cash or 23 other proceeds of them; and accept any bill of exchange or draft drawn by any person 24 upon the principal, and pay it when due; 25 (9) receive for the principal and deal in and with a negotiable or 26 nonnegotiable instrument in which the principal has or claims to have an interest; 27 (10) apply for and receive letters of credit or traveler's checks from a 28 banker or banking institution selected by the agent, giving indemnity or other 29 agreements in connection with the applications or receipts that the agent considers 30 desirable or necessary; 31 (11) consent to an extension in the time of payment with respect to
01 commercial paper or a banking transaction in which the principal has an interest or by 02 which the principal is, or might be, affected in any way; 03 (12) pay, compromise, or contest taxes or assessments and apply for 04 refunds in connection with the payment, compromise, or contest; 05 (13) demand, receive, or obtain money or any other thing of value to 06 which the principal is, or may become, or may claim to be entitled as the proceeds of 07 any banking transaction conducted by the principal or by the agent in the execution of 08 the powers described in this subsection, or partly by the principal and partly by the 09 agent; conserve, invest, disburse, or use anything received for purposes enumerated in 10 this subsection, and reimburse the agent for an expenditure properly made in the 11 execution of the powers conferred by the statutory form power of attorney; 12 (14) execute, acknowledge, seal, and deliver an instrument, in the name 13 of the principal or otherwise, that the agent considers useful for the accomplishment of 14 a purpose enumerated in this subsection; 15 (15) prosecute, defend, submit to arbitration, settle, and propose or 16 accept a compromise with respect to, a claim existing in favor of, or against, the 17 principal based on or involving a banking transaction, or intervene in an action or 18 proceeding relating to a banking transaction; 19 (16) hire, discharge, and compensate an attorney, accountant, expert 20 witness, or assistant when the agent considers that the action is desirable for the proper 21 execution of the powers described in this subsection, and for the keeping of records 22 about that action; and 23 (17) do any other act or acts that the principal can do through an agent 24 in connection with a banking transaction that does or might in any way affect the 25 financial or other interests of the principal. 26 * Sec. 13. AS 13.26.344(e) is amended to read: 27 (e) In a statutory form power of attorney, the language conferring general 28 authority with respect to business operating transactions shall be construed to mean 29 that, with respect to a business in which the principal has an interest, whether in the 30 state or elsewhere, the principal authorizes the agent 31 (1) to the extent that an agent is permitted by law to act for a principal,
01 to discharge and perform any duty or liability and exercise any right, power, privilege, 02 or option that the principal has, or claims to have, under a contract of partnership, 03 whether as a general or special partner, enforce the terms of the partnership agreement 04 for the protection of the principal that the agent considers desirable or necessary, and 05 defend, submit to arbitration, settle, or compromise an action to which the principal is 06 a party because of membership in a partnership; 07 (2) to exercise in person or by proxy or enforce a right, power, 08 privilege, or option that the principal has as the holder of a bond, share, or other 09 instrument of similar character, and defend, submit to arbitration, settle, or 10 compromise an action to which the principal is a party because of a bond, share, or 11 other instrument of similar character; 12 (3) with respect to a business enterprise that is owned solely by the 13 principal, to 14 (A) continue, modify, renegotiate, extend and terminate a 15 contractual arrangement made with a person, firm, association, or corporation 16 by or on behalf of the principal; 17 (B) determine the policy of the enterprise as to the location of 18 the site or sites to be used for its operation, the nature and extent of the 19 business to be undertaken by it, the methods of manufacturing, selling, 20 merchandising, financing, accounting, and advertising to be employed in its 21 operation, the amount and types of insurance to be carried, the mode of 22 securing compensation and dealing with accountants, attorneys, and employees 23 required for its operation, agree and contract, in any manner, and with any 24 person and on any terms, that the agent considers desirable or necessary to 25 carry out any or all of the decisions of the agent as to policy, and perform, 26 rescind, reform, release, or modify an agreement or contract or any other 27 similar agreement or contract made by or on behalf of the principal; 28 (C) change the name or form of organization under which the 29 business is operated and enter into a partnership agreement with others or 30 organize a corporation to take over the operation of the business, or any part of 31 it, that the agent considers desirable or necessary;
01 (D) demand and receive all money that is or may become due to 02 the principal, or that may be claimed by the principal or on the principal's 03 behalf, in the operation of the enterprise, and control and disburse the funds in 04 the operation of the enterprise in any way that the agent considers desirable or 05 necessary, and engage in banking transactions that the agent considers 06 desirable or necessary to carry out the execution of the powers of the agent 07 described in this subparagraph; 08 (4) to prepare, sign, file, and deliver all reports, compilations of 09 information, returns, and other papers with respect to a business operating transaction 10 of the principal that is required by a government agency or that the agent considers 11 desirable or necessary for any purpose, and make any payments with respect to the 12 agency; 13 (5) to pay, compromise, or contest taxes or assessments and do any act 14 or acts that the agent considers desirable or necessary to protect the principal from 15 illegal or unnecessary taxation, fines, penalties, or assessments in connection with the 16 business operations; 17 (6) to demand, receive, or obtain money or any other thing of value to 18 which the principal is or may claim to be entitled as the proceeds of a business 19 operation of the principal, conserve, invest, disburse, and use anything so received for 20 purposes enumerated in this subsection, and reimburse the agent for expenditures 21 properly made in the execution of the powers conferred by the statutory form power of 22 attorney; 23 (7) to execute, acknowledge, seal, and deliver a deed, assignment, 24 mortgage, lease, notice, consent, agreement, authorization check, or other instrument 25 that the agent considers useful for the accomplishment of any of the purposes 26 enumerated in this subsection; 27 (8) to prosecute, defend, submit to arbitration, settle, and propose or 28 accept a compromise with respect to, a claim existing in favor of, or against, the 29 principal based on or involving a business operating transaction or intervene in a 30 related action; 31 (9) to hire, discharge, and compensate an attorney, accountant, expert
01 witness, or assistant when the agent reasonably believes that the action is desirable for 02 the proper execution of the powers described in this subsection, and for the keeping of 03 records about that action; 04 (10) to operate, buy, sell, enlarge, reduce, or terminate an 05 ownership interest; 06 (11) to put additional capital into an entity or business in which the 07 principal has an interest; 08 (12) to join in a plan of reorganization, consolidation, conversion, 09 domestication, or merger of the entity or business; 10 (13) to sell or liquidate all or part of an entity or business; and 11 (14) to establish the value of an entity or business under a buy-out 12 agreement to which the principal is a party; and 13 (15) to [AND (10)] do any other act or acts that the principal can do 14 through an agent in connection with a business operated by the principal that the agent 15 considers desirable or necessary for the furtherance or protection of the interests of the 16 principal. 17 * Sec. 14. AS 13.26.344(f) is amended to read: 18 (f) In a statutory form power of attorney, the language conferring general 19 authority with respect to insurance transactions shall be construed to mean that, as to a 20 contract of insurance in which the principal has an interest, whether in the state or 21 elsewhere, the principal authorizes the agent to 22 (1) continue, pay the premium or assessment on, modify, rescind, 23 release, or terminate any contract of life, accident, health, disability, or liability 24 insurance, or any combination of insurance, procured by or on behalf of the principal 25 before the creation of the agency that insures either the principal or any other person 26 without regard to whether the principal is or is not a beneficiary under the insurance 27 coverage; 28 (2) procure new, different, or additional contracts on the life of the 29 principal or protecting the principal with respect to ill health, disability, accident, or 30 liability of any sort, select the amount, the type of insurance contract, and the mode of 31 payment under each policy, pay the premium or assessment on, modify, rescind,
01 release, or terminate a contract so procured by the agent; and designate the beneficiary 02 of the contract of insurance, except that the agent cannot be the beneficiary unless the 03 agent is spouse, child, grandchild, parent, brother, or sister of the principal; 04 (3) apply for and receive a loan on the security of the contract of 05 insurance, whether for the payment of a premium or for the procuring of cash; 06 surrender and receive the cash surrender value; exercise an election as to beneficiary 07 or mode of payment, change the manner of paying premiums, change or convert the 08 type of insurance contract with respect to any insurance that the principal has, or 09 claims to have, as to any power described in this subsection; and change the 10 beneficiary of a contract of insurance, except that the agent cannot be the new 11 beneficiary unless the agent is spouse, child, grandchild, parent, brother, or sister of 12 the principal; 13 (4) demand, receive, or obtain money or any other thing of value to 14 which the principal is, or may become, or may claim to be entitled as the proceeds of a 15 contract of insurance or of one or more of the transactions enumerated in this 16 subsection; conserve, invest, disburse, or use anything received for purposes 17 enumerated in this subsection and reimburse the agent for expenditures properly made 18 in the execution of the powers conferred by the statutory form power of attorney; 19 (5) apply for and procure available government aid in the guaranteeing 20 or paying of premiums of a contract of insurance on the life of the principal; 21 (6) sell, assign, hypothecate, borrow upon, or pledge the interest of the 22 principal in any contract of insurance; 23 (7) pay, from the proceeds of an insurance contract or otherwise, 24 compromise, or contest, and apply for refunds in connection with, a tax or assessment 25 levied by a taxing authority with respect to a contract of insurance or the proceeds of 26 or liability accruing by reason of a tax or assessment; 27 (8) agree and contract, in any manner and with any person and on any 28 terms that the agent may select, for the accomplishment of the purposes enumerated in 29 this subsection, and perform, rescind, reform, release, or modify any agreement or 30 contract; 31 (9) execute, acknowledge, seal, and deliver any consent, demand,
01 request, application, agreement, indemnity, authorization, assignment, pledge, notice, 02 check, receipt, waiver, or other instrument that the agent considers useful for the 03 accomplishment of a purpose enumerated in this subsection; 04 (10) continue, procure, pay the premium or assessment on, modify, 05 rescind, release, terminate, or otherwise deal with any contract of insurance, other than 06 those enumerated in (1) and (2) of this subsection, or any combination of insurance; 07 and do any act with respect to the contract or with respect to its proceeds or 08 enforcement that the agent considers desirable or necessary for the promotion or 09 protection of the interests of the principal; 10 (11) prosecute, defend, submit to arbitration, settle, and propose or 11 accept a compromise with respect to a claim existing in favor of, or against, the 12 principal based on or involving an insurance transaction, or intervene in an action 13 relating to an insurance transaction; 14 (12) hire, discharge, and compensate an attorney, accountant, expert 15 witness, or assistant when the agent considers the action to be desirable for the proper 16 execution of a power described in this subsection, and for the keeping of records about 17 that action; [AND] 18 (13) exercise investment powers available under a contract of 19 insurance or annuity; and 20 (14) do any other act or acts that the principal can do through an agent 21 in connection with procuring, supervising, managing, modifying, enforcing, and 22 terminating contracts of insurance in which the principal is the insured or has an 23 interest. 24 * Sec. 15. AS 13.26.344(h) is repealed and reenacted to read: 25 (h) In a statutory form power of attorney, the language conferring authority 26 with respect to retirement plans shall be construed to mean that the principal 27 authorizes the agent to 28 (1) select the form and timing of payments under a retirement plan and 29 withdraw benefits from a plan; 30 (2) make a rollover, including a direct trustee-to-trustee rollover, of 31 benefits from one retirement plan to another;
01 (3) establish a retirement plan in the principal's name; 02 (4) make contributions to a retirement plan; 03 (5) exercise investment powers available under a retirement plan; and 04 (6) borrow from, sell assets to, or purchase assets from a retirement 05 plan. 06 * Sec. 16. AS 13.26.344(j) is amended to read: 07 (j) In a statutory form power of attorney, the language conferring general 08 authority with respect to personal relationships is neither dependent on, nor limited 09 by, authority that an agent may or may not have with respect to gifts under 10 AS 13.26.326 - 13.26.359, and shall be construed to mean that, as to real and personal 11 property owned by the principal, whether in the state or elsewhere, the principal 12 authorizes the agent to 13 (1) do all acts necessary to maintain the customary standard of living of 14 the spouse, children, [AND] other dependents of the principal, whether living when 15 the power of attorney is executed or later born, and individuals whom the 16 principal has customarily supported or indicated the intent to support, including 17 by way of illustration and not by way of restriction, power to provide living quarters 18 by purchase, by lease, or by other contract, or by any payment of the operating costs, 19 including interest, amortization payments, repairs, and taxes, of premises owned by 20 the principal and occupied by the principal's family or dependents, to provide normal 21 domestic help for the operation of the household, to provide usual vacations and usual 22 travel expenses, to provide usual educational facilities, [AND] to provide funds for all 23 the current living costs of the spouse, children, and other dependents, including, 24 among other things, shelter, clothing, food, and incidentals, and to make periodic 25 payments of child support and other family maintenance required by a court or 26 governmental agency or an agreement to which the principal is a party; 27 (2) provide, whenever necessary, medical, dental, and surgical care, 28 hospitalization, and custodial care for the spouse, children, and other dependents of the 29 principal; 30 (3) continue whatever provision has been made by the principal for the 31 principal's spouse, children, and other dependents, with respect to automobiles, or
01 other means of transportation, including by way of illustration, but not by way of 02 restriction, power to license, insure, and replace automobiles owned by the principal 03 and customarily used by the spouse, children, or other dependents of the principal; 04 (4) continue whatever charge accounts have been opened for the 05 convenience of the principal's spouse, children, or other dependents, open any new 06 accounts that the agent considers desirable to accomplish the purposes enumerated in 07 this subsection, and pay the items charged on these accounts by a person authorized or 08 permitted by the principal to make the charges; 09 (5) continue the discharge of any services or duties assumed by the 10 principal to a parent, relative, or friend of the principal; 11 (6) supervise, enforce, defend, or settle any claim by or against the 12 principal arising out of property damages or personal injuries suffered by or caused by 13 the principal, or under any circumstance that the resulting loss will or may fall on the 14 principal; 15 (7) continue payments incidental to the membership or affiliation of the 16 principal in a church, club, society, order, or other organization, or continue 17 contributions to the organization; 18 (8) demand, receive, or obtain money or any other thing of value to 19 which the principal is or may become or may claim to be entitled as remuneration for 20 services performed, or as a stock dividend or distribution, or as interest or principal 21 upon indebtedness, or as a periodic distribution of profits from any partnership or 22 business in which the principal has or claims an interest, and endorse, collect, or 23 otherwise realize upon an instrument for the payment received; 24 (9) prepare, execute, and file all tax, social security, unemployment 25 insurance, and information returns required by the laws of the United States or of any 26 state or subdivision, or of any foreign government; prepare, execute, and file all other 27 papers and instruments that the agent considers desirable or necessary for the 28 safeguarding of the principal against excess or illegal taxation or against penalties 29 imposed for claimed violation of a law or regulation; and pay, compromise, or contest 30 or apply for refunds in connection with a tax or assessment for which the principal is 31 or may be liable;
01 (10) use an asset of the principal to perform a power enumerated in this 02 subsection, including by way of illustration and not by way of restriction, power to 03 draw money by check or otherwise from a bank deposit of the principal, to sell land or 04 a chattel, bond, share, commodity interest, or other asset of the principal, to borrow 05 money, and to pledge as security for the loan any asset, including insurance, that 06 belongs to the principal; 07 (11) execute, acknowledge, verify, seal, file, and deliver an application, 08 consent, petition, notice, release, waiver, agreement, or other instrument that the agent 09 considers useful to accomplish a purpose enumerated in this subsection; 10 (12) prosecute, defend, submit to arbitration, settle, and propose or 11 accept a compromise with respect to a claim existing in favor of, or against, the 12 principal based on or involving a transaction enumerated in this subsection, or 13 intervene in any action or proceeding related to a transaction; 14 (13) hire, discharge, and compensate an attorney, accountant, expert 15 witness, or assistant when the agent considers the action to be desirable for the proper 16 execution of any of the powers described in this subsection, and for the keeping of 17 records, about that action; [AND] 18 (14) do any other act or acts that the principal can do through an agent, 19 for the welfare of the spouse, children, or dependents of the principal or for the 20 preservation and maintenance of the other personal relationships of the principal to a 21 parent, relative, friend, or organization; and 22 (15) act as the principal's personal representative under 42 U.S.C. 23 1320d (Health Insurance Portability and Accountability Act and secs. 1171 - 24 1179, Social Security Act), as amended, and applicable regulations, in making 25 decisions related to the past, present, or future payment for the provision of 26 health care consented to by the principal or anyone authorized under the law of 27 this state to consent to health care on behalf of the principal. 28 * Sec. 17. AS 13.26.344(k) is amended to read: 29 (k) In a statutory form power of attorney, the language conferring general 30 authority with respect to benefits from government programs or civil or [AND] 31 military service shall be construed to mean that, whether the benefits from the
01 government programs or civil or military service have accrued to the principal in the 02 state or elsewhere, the principal authorizes the agent to 03 (1) prepare and execute vouchers, applications, requests, forms, and 04 other legal documents in the name of the principal for all benefits, bonuses, dividends, 05 allowances, and reimbursements payable under any government program or military 06 service of the United States, a state, or a subdivision, including allowances and 07 reimbursements for transportation of the individuals described in (j)(1) of this 08 section, and for shipment of their household effects, and receive, endorse, and 09 collect the proceeds of a check payable to the order of the principal drawn on the 10 treasurer or other fiscal officer or depositary of the United States, a state, or a 11 subdivision; 12 (2) take possession and order the removal and shipment of property of 13 the principal from any post, warehouse, depot, dock, or other place or storage or 14 safekeeping and execute and deliver any release, voucher, receipt, bill of lading, 15 shipping ticket, certificate, or other instrument that the agent considers desirable or 16 necessary for that purpose; 17 (3) prepare, file, and prosecute the claim of the principal to any benefit 18 or assistance to which the principal is, or claims to be, entitled under the provisions of 19 a statute or regulation of the United States, a state, or a subdivision; 20 (4) receive the financial proceeds of a claim of the type described in 21 this subsection; conserve, invest, disburse or use anything received for purposes 22 enumerated in this subsection; and reimburse the agent for expenditures properly made 23 in the execution of the powers conferred by the statutory form power of attorney; 24 (5) prosecute, defend, submit to arbitration, settle, and propose or 25 accept a compromise with respect to a claim existing in favor of, or against, the 26 principal based on or involving a benefit from a government program or military 27 service, or intervene in an action relating to a claim; 28 (6) hire, discharge, or compensate an attorney, accountant, expert 29 witness, or assistant when the agent considers that action to be desirable for the proper 30 execution of any of the powers described in this subsection; [AND] 31 (7) enroll in, apply for, select, reject, change, amend, or
01 discontinue, on the principal's behalf, a benefit or program; and 02 (8) do any other act or acts that the principal can do through an agent, 03 and that [WHICH] the agent considers desirable or necessary to assure to the principal 04 and to the dependents of the principal [,] the maximum possible benefit from the 05 government programs or civil or military service of the United States, a state, or a 06 subdivision. 07 * Sec. 18. AS 13.26.344 is amended by adding a new subsection to read: 08 (q) In a statutory form power of attorney, unless the power of attorney 09 otherwise provides, the language conferring specific authority with respect to gift 10 transactions shall be construed to mean that the principal authorizes the agent only 11 (1) to make a gift of the principal's property only as the agent 12 determines is consistent with the principal's objectives if actually known by the agent 13 and, if unknown, as the agent determines is consistent with the principal's best interest 14 based on all relevant factors, including 15 (A) the value and nature of the principal's property; 16 (B) the principal's foreseeable obligations and need for 17 maintenance; 18 (C) minimization of taxes, including income, estate, inheritance, 19 generation-skipping transfer, and gift taxes; 20 (D) eligibility for a benefit, a program, or assistance under a 21 statute or regulation; and 22 (E) the principal's personal history of making or joining in 23 making gifts; 24 (2) subject to (1) of this subsection, to make outright to, or for the 25 benefit of, a person, a gift of any of the principal's property, including by the exercise 26 of a presently exercisable general power of appointment held by the principal, in an 27 amount for each donee not to exceed the annual dollar limits of the federal gift tax 28 exclusion under 26 U.S.C. 2503(b) (Internal Revenue Code), as amended, without 29 regard to whether the federal gift tax exclusion applies to the gift, or if the principal's 30 spouse agrees to consent to a split gift under 26 U.S.C. 2513 (Internal Revenue Code), 31 as amended, in an amount for each donee not to exceed twice the annual federal gift
01 tax exclusion limit; in this paragraph, "presently exercisable general power of 02 appointment," with respect to property or a property interest subject to a power of 03 appointment, means power exercisable at the time in question to vest absolute 04 ownership in the principal individually, the principal's estate, the principal's creditors, 05 or the creditors of the principal's estate; the term includes a power of appointment not 06 exercisable until the occurrence of a specified event, the satisfaction of an 07 ascertainable standard, or the passage of a specified period only after the occurrence of 08 the specified event, the satisfaction of the ascertainable standard, or the passage of the 09 specified period; the term does not include a power exercisable in a fiduciary capacity 10 or only by will; and 11 (3) subject to (1) of this subsection, to consent, under 26 U.S.C. 2513 12 (Internal Revenue Code), as amended, to the splitting of a gift made by the principal's 13 spouse in an amount for each donee not to exceed the aggregate annual gift tax 14 exclusions for both spouses. 15 * Sec. 19. AS 13.26.347 is amended to read: 16 Sec. 13.26.347. Validity of modified statutory form power of attorney. A 17 power of attorney that satisfies the requirements of AS 13.26.332 - 13.26.344 is not 18 prevented from being a statutory form power of attorney by the fact that it also 19 contains additional language that 20 (1) eliminates from the power of attorney one or more of the powers 21 enumerated in one or more of the subsections of AS 13.26.344 with respect to a 22 section of the statutory form power of attorney that is not eliminated by the principal; 23 (2) supplements one or more of the powers enumerated in one or more 24 of the subsections of AS 13.26.344 with respect to a section of the statutory form 25 power of attorney that is not eliminated by the principal by specifically listing 26 additional powers of the agent; [OR] 27 (3) makes an additional provision that is not substantially inconsistent 28 with the other provisions of the statutory form power of attorney; or 29 (4) relieves an agent of liability for breach of a duty under 30 AS 13.26.327, except to the extent the provision 31 (A) relieves the agent of liability for breach of duty
01 committed dishonestly, with an improper motive, or with reckless 02 indifference to the purposes of the power of attorney or the best interest of 03 the principal; or 04 (B) was inserted as a result of an abuse of a confidential or 05 fiduciary relationship with the principal. 06 * Sec. 20. AS 13.26.350 is amended to read: 07 Sec. 13.26.350. When statutory form power of attorney is not affected by 08 incapacity [DISABILITY OR INCOMPETENCE] of principal. (a) The 09 subsequent incapacity [DISABILITY OR INCOMPETENCE] of a principal does not 10 revoke or terminate the authority of an agent [ATTORNEY-IN-FACT] who acts 11 under a power of attorney in a writing executed by a principal if the writing contains 12 the words "This power of attorney shall become effective upon the incapacity 13 [DISABILITY] of the principal," or contains the words "This power of attorney shall 14 not be affected by the subsequent incapacity [DISABILITY] of the principal," or 15 words substantially similar showing the intent of the principal that the authority 16 conferred shall be exercisable notwithstanding the principal's subsequent incapacity 17 [DISABILITY, INCOMPETENCE,] or uncertainty as to whether the principal is dead 18 or alive. 19 (b) An act done by an agent [ATTORNEY-IN-FACT] under a power granted 20 in a power of attorney under AS 13.26.332 - 13.26.344 during a period of incapacity 21 [DISABILITY, INCOMPETENCE,] or uncertainty as to whether the principal is dead 22 or alive has the same effect and enures to the benefit of and binds a principal and the 23 principal's distributees, devisees, legatees, and personal representatives as if there 24 were no incapacity of the principal [WERE COMPETENT AND NOT DISABLED]. 25 If a conservator is later appointed for the principal, during the continuance of the 26 appointment, the agent is accountable to the conservator as well as to the principal 27 [THE ATTORNEY-IN-FACT SHALL ACCOUNT TO THE CONSERVATOR 28 RATHER THAN TO THE PRINCIPAL]. The conservator has the same power to 29 revoke, suspend, or terminate the power of attorney that the principal would have 30 if there was no incapacity of the principal [WERE NOT DISABLED OR 31 INCOMPETENT TO REVOKE, SUSPEND, OR TERMINATE THE POWER OF
01 ATTORNEY]. 02 * Sec. 21. AS 13.26.353(a) is repealed and reenacted to read: 03 (a) For purposes of AS 13.26.332 - 13.26.344, 04 (1) the incapacity of a principal shall be established by affidavit stating 05 that the principal is unable to manage property or business affairs because the 06 principal 07 (A) has an impairment in the ability to receive and evaluate 08 information or make or communicate decisions even with the use of 09 technological assistance, and this impairment is the result of mental illness, 10 mental deficiency, physical illness, physical disability, advanced age, use of 11 drugs, chronic intoxication, or other similar medical or psychological reason, 12 to such an extent that the principal is unable to manage the principal's property 13 or affairs; or 14 (B) is 15 (i) missing; 16 (ii) detained, including incarcerated in a penal system; or 17 (iii) outside the United States and unable to return; and 18 (2) if the incapacity is based on (1)(A) of this subsection, two 19 physicians or similarly qualified medical professionals who have personally examined 20 the principal shall sign the affidavit; however, the affidavit may be signed by only one 21 physician or similarly qualified medical professional if only one physician or similarly 22 qualified medical professional is available and the affidavit executed by the person 23 states that only one physician or similarly qualified medical professional is available. 24 * Sec. 22. AS 13.26.353(b) is amended to read: 25 (b) A third party who relies on the reasonable representations of an agent 26 [ATTORNEY-IN-FACT] designated under AS 13.26.332 - 13.26.347 [AS 13.26.332 - 27 13.26.344] as to a matter relating to a power granted by a properly executed statutory 28 form power of attorney does not incur a liability to the principal or the principal's 29 heirs, assigns, or estate as a result of permitting the agent [ATTORNEY-IN-FACT] to 30 exercise the authority granted by the power of attorney. 31 * Sec. 23. AS 13.26 is amended by adding new sections to read:
01 Sec. 13.26.354. Judicial relief. (a) The following persons may petition a court 02 in accordance with the provisions of AS 13.26.165 - 13.26.324 to construe a power of 03 attorney, review the agent's conduct, and grant appropriate relief: 04 (1) the principal or the agent; 05 (2) the principal's attorney or other legal representative; 06 (3) a guardian, conservator, or other fiduciary acting for the principal; 07 (4) a person authorized to make health care decisions for the principal; 08 (5) the principal's spouse, parent, or descendant; 09 (6) an individual who would qualify as a presumptive heir of the 10 principal; 11 (7) a person named as a beneficiary to receive any property, benefit, or 12 contractual right on the principal's death or as a beneficiary of a trust created by or for 13 the principal that has a financial interest in the principal's estate; 14 (8) the Department of Health and Social Services, the Department of 15 Administration, or other governmental agency having statutory authority to protect the 16 welfare of the principal; 17 (9) the principal's caregiver, custodian, or another person that 18 demonstrates sufficient interest in the principal's welfare; and 19 (10) a person asked to accept the power of attorney. 20 (b) Upon motion by the principal, the court shall dismiss a petition filed under 21 this section, unless the court finds that the principal lacks capacity to revoke the 22 agent's authority or the power of attorney. 23 Sec. 13.26.355. Relationship to other laws. (a) Except as provided in (c) of 24 this section, AS 13.26.326 - 13.26.359 do not supersede any other law applicable to a 25 financial institution or other entity, and the other law controls if inconsistent with 26 AS 13.26.326 - 13.26.359. 27 (b) The remedies in AS 13.26.326 - 13.26.359 are not exclusive and do not 28 abrogate any right or remedy under the law of this state. 29 (c) AS 13.26.326 - 13.26.359 modify, limit, or supersede 15 U.S.C. 7001 - 30 7031 (Electronic Signatures in Global and National Commerce Act), but do not 31 modify, limit, or supersede 15 U.S.C. 7001(c), or authorize electronic delivery of any
01 of the notices described in 15 U.S.C. 7003(b). 02 * Sec. 24. AS 13.26.356 is amended to read: 03 Sec. 13.26.356. Powers of attorney not revoked until notice of death or 04 incapacity [DISABILITY]. (a) The death [, DISABILITY] or incapacity 05 [INCOMPETENCE] of a principal who has executed a power of attorney in writing 06 does not revoke or terminate the agency as to the [ATTORNEY-IN-FACT,] agent [,] 07 or other person who, without actual knowledge of the death [, DISABILITY,] or 08 incapacity [INCOMPETENCE] of the principal, acts in good faith under the power of 09 attorney [OR AGENCY]. Action so taken, unless otherwise invalid or unenforceable, 10 binds the principal and the heirs, devisees, and personal representatives of the 11 principal. 12 (b) An affidavit executed by the [ATTORNEY-IN-FACT OR] agent stating 13 that the [ATTORNEY-IN-FACT OR] agent did not have, at the time of doing an act 14 under the power of attorney, actual knowledge of the revocation or termination of the 15 power of attorney by death [, DISABILITY] or incapacity [INCOMPETENCE], is, in 16 the absence of fraud, conclusive proof of the nonrevocation or nontermination of the 17 power of attorney at that time. If the exercise of the power of attorney requires 18 execution and delivery of an instrument that is recordable, the affidavit when 19 authenticated for record is likewise recordable. 20 (c) A special power of attorney created before September 4, 1988, shall be 21 construed to grant the agent [ATTORNEY-IN-FACT] the powers set out in that 22 special power of attorney. 23 * Sec. 25. AS 13.26.358(a) is amended to read: 24 (a) A public home care provider may not accept a designation as 25 [ATTORNEY-IN-FACT OR] agent by general or special power of attorney for an 26 individual to whom the provider furnishes services unless the designation is held 27 jointly with another individual who is not a public home care provider. 28 * Sec. 26. AS 13.26 is amended by adding a new section to article 5 to read: 29 Sec. 13.26.359. Definitions. In AS 13.26.326 - 13.26.359, 30 (1) "benefits from government programs or civil or military service" 31 means a benefit, a program, or assistance provided under a statute or regulation,
01 including Social Security, Medicare, and Medicaid; and 02 (2) "good faith" means honesty in fact; 03 (3) "incapacity" means inability of an individual to manage property or 04 business affairs because the individual 05 (A) has an impairment in the ability to receive and evaluate 06 information or make or communicate decisions even with the use of 07 technological assistance; or 08 (B) is 09 (i) missing; 10 (ii) detained, including incarcerated in a penal system; or 11 (iii) outside the United States and unable to return; and 12 (4) "retirement plan" means a plan or account created by an employer, 13 the principal, or another individual to provide retirement benefits or deferred 14 compensation of which the principal is a participant, beneficiary, or owner, including a 15 plan or account under the following sections of 26 U.S.C. (Internal Revenue Code): 16 (A) an individual retirement account under 26 U.S.C. 408 17 (Internal Revenue Code), as amended; 18 (B) a Roth IRA under 26 U.S.C. 408A (Internal Revenue Code), 19 as amended; 20 (C) an individual retirement account under 26 U.S.C. 408(q) 21 (Internal Revenue Code), as amended; 22 (D) an annuity or custodial account under 26 U.S.C. 403(b) 23 (Internal Revenue Code), as amended; 24 (E) a pension, profit-sharing, stock bonus, or other retirement 25 plan qualified under 26 U.S.C. 401(a) (Internal Revenue Code), as amended; 26 (F) a plan under 26 U.S.C. 457(b) (Internal Revenue Code), as 27 amended; and 28 (G) a nonqualified deferred compensation plan under 26 U.S.C. 29 409A (Internal Revenue Code), as amended. 30 * Sec. 27. AS 13 is amended by adding a new chapter to read: 31 Chapter 28. Recognition of Substitute Decision-Making Documents.
01 Sec. 13.28.010. Validity of substitute decision-making document. (a) Except 02 as provided in AS 13.26.331, a substitute decision-making document for property 03 executed outside this state is valid in this state if, when the document was executed, 04 the execution complied with the law of the jurisdiction indicated in the document or, if 05 jurisdiction is not indicated, the law of the jurisdiction in which the document was 06 executed. 07 (b) Except as provided in AS 13.52.010 and 13.52.247, a substitute decision- 08 making document for health care or personal care executed outside this state is valid in 09 this state if, when the document was executed, the execution complied with 10 (1) the law of the jurisdiction indicated in the document or, if 11 jurisdiction is not indicated, the law of the jurisdiction in which the document was 12 executed; or 13 (2) the laws of this state other than this chapter. 14 (c) Except as otherwise provided by a law of this state other than this chapter, a 15 photocopy or electronically transmitted copy of an original substitute decision-making 16 document has the same effect as the original. 17 Sec. 13.28.020. Meaning and effect of substitute decision-making 18 document. The meaning and effect of a substitute decision-making document and the 19 authority of the decision maker are determined by the law of the jurisdiction indicated 20 in the substitute decision-making document or, if jurisdiction is not indicated, the law 21 of the jurisdiction in which the substitute decision-making document was executed. 22 Sec. 13.28.030. Reliance on substitute decision-making document. (a) 23 Except as otherwise provided in AS 13.26.328, a person that in good faith accepts a 24 substitute decision-making document without actual knowledge that the document is 25 void, invalid, or terminated, or that the purported decision maker's authority is void, 26 invalid, or terminated, may, without inquiry, assume that the document is genuine, 27 valid, and still in effect and that the decision maker's authority is genuine, valid, and 28 still in effect. 29 (b) A person that is asked to accept a substitute decision-making document 30 may request and may, without further investigation, rely on 31 (1) the decision maker's assertion of a fact concerning the individual for
01 whom a decision will be made, the decision maker, or the document; 02 (2) a translation of the document if the document contains, in whole or 03 in part, a language other than English; and 04 (3) an opinion of counsel regarding any matter of law concerning the 05 document if the person requesting the opinion provides in a record the reason for the 06 request. 07 Sec. 13.28.040. Obligation to accept substitute decision-making document. 08 (a) Except as otherwise provided in (b) of this section or by a law of this state other 09 than this chapter, a person shall, within a reasonable time, accept a substitute decision- 10 making document that purportedly meets the validity requirements of AS 13.28.010 11 and may not require an additional or different form of document for authority granted 12 in the document presented. 13 (b) A person is not required to accept a substitute decision-making document if 14 (1) the person otherwise would not be required in the same 15 circumstances to act if requested by the individual who executed the document; 16 (2) the person has actual knowledge of the termination of the decision 17 maker's authority or the document; 18 (3) the person's request under AS 13.28.030(b) for the decision maker's 19 assertion of fact, a translation, or an opinion of counsel is refused; 20 (4) the person in good faith believes that the document is not valid or 21 that the decision maker does not have the authority to request a particular transaction 22 or action; or 23 (5) the person makes, or has actual knowledge that another person has 24 made, a report to the office of the Department of Health and Social Services that 25 administers adult protective services stating a belief that the individual for whom a 26 decision will be made may be subject to abuse, neglect, exploitation, or abandonment 27 by the decision maker or a person acting for or with the decision maker. 28 (c) A person that, in violation of this section, refuses to accept a substitute 29 decision-making document is subject to 30 (1) a court order mandating acceptance of the document; and 31 (2) liability as provided by the court rules of this state for attorney fees
01 and costs incurred in an action or proceeding that mandates acceptance of the 02 document. 03 Sec. 13.28.050. Remedies under other law. The remedies under this chapter 04 are not exclusive and do not abrogate any right or remedy under a law of this state 05 other than this chapter. 06 Sec. 13.28.060. Uniformity of application and construction. In applying and 07 construing this chapter, consideration shall be given to the need to promote uniformity 08 of the law with respect to its subject matter among the states that enact it. 09 Sec. 13.28.070. Relation to Electronic Signatures in Global and National 10 Commerce Act. This chapter modifies, limits, or supersedes 15 U.S.C. 7001 - 7031 11 (Electronic Signatures in Global and National Commerce Act), but does not modify, 12 limit, or supersede 15 U.S.C. 7001(c), or authorize electronic delivery of any of the 13 notices described in 15 U.S.C. 7003(b). 14 Sec. 13.28.090. Definitions. In this chapter, 15 (1) "decision maker" means a person authorized to act for an individual 16 under a substitute decision-making document or to whom a decision maker's authority 17 is delegated, whether denominated a decision maker, agent, attorney-in-fact, proxy, 18 representative, original decision maker, co-decision maker, successor decision maker, 19 or otherwise; 20 (2) "good faith" means honesty in fact; 21 (3) "health care" means a service or procedure to maintain, diagnose, 22 treat, or otherwise affect an individual's physical or mental condition; 23 (4) "person" means an individual, estate, business or nonprofit entity, 24 public corporation, government or governmental subdivision, agency, or 25 instrumentality, or other legal entity; 26 (5) "personal care" means an arrangement or a service to provide an 27 individual with shelter, food, clothing, transportation, education, recreation, social 28 contact, or assistance with the activities of daily living; 29 (6) "property" means anything that may be subject to ownership, 30 whether real or personal or legal or equitable, or any interest or right in the thing; 31 (7) "record" means information that is inscribed on a tangible medium
01 or that is stored in an electronic or other medium and is retrievable in perceivable 02 form; 03 (8) "substitute decision-making document" means a record created by 04 an individual to authorize a decision maker to act for the individual with respect to 05 property, health care, or personal care. 06 Sec. 13.28.095. Short title. This chapter may be cited as the Uniform 07 Recognition of Substitute Decision-Making Documents Act. 08 * Sec. 28. AS 13.26.338(a) and 13.26.353(c) are repealed. 09 * Sec. 29. The uncodified law of the State of Alaska is amended by adding a new section to 10 read: 11 APPLICABILITY. (a) This Act 12 (1) applies to a power of attorney or substitute decision-making document 13 created on or after the effective date of this Act; 14 (2) applies to a judicial proceeding commenced on or after the effective date of 15 this Act concerning a power of attorney or substitute decision-making document created on or 16 after the effective date of this Act; and 17 (3) does not apply to an act done before the effective date of this Act. 18 (b) In this section, "substitute decision-making document" has the meaning given in 19 AS 13.28.090, enacted in sec. 27 of this Act. 20 * Sec. 30. This Act takes effect January 1, 2016.