Full Text of HB3886 96th General Assembly
HB3886 96TH GENERAL ASSEMBLY
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96TH GENERAL ASSEMBLY
State of Illinois
2009 and 2010 HB3886
Introduced 2/26/2009, by Rep. Emily McAsey SYNOPSIS AS INTRODUCED: |
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New Act |
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755 ILCS 45/Art. II rep. |
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755 ILCS 45/Art. III rep. |
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Creates the Uniform Power of Attorney Act. Provides that the Act applies to all powers of attorney except: (1) a power to the extent it is coupled with an interest in the subject of the power, including a power given to or for the benefit of a creditor in connection with a credit transaction; (2) a power to make health-care decisions; (3) a proxy or other delegation to exercise voting rights or management rights with respect to an entity; and (4) a power created on a form prescribed by a government or governmental subdivision, agency, or instrumentality for a governmental purpose. Contains general provisions concerning powers of attorney, including when a power of attorney takes effect and the extent of an agent's duties. Contains provisions concerning an agent's authority, including with respect to real property, tangible personal property, operation of a business, insurance, estates and trusts, claims and litigation, and other matters. Also contains a statutory form power of attorney. Repeals provisions of the Illinois Power of Attorney Act concerning durable powers of attorney and a statutory short form power of attorney for property. Effective immediately.
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A BILL FOR
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HB3886 |
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| AN ACT concerning powers of attorney.
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| Be it enacted by the People of the State of Illinois,
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| represented in the General Assembly:
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| ARTICLE 1. GENERAL PROVISIONS | 5 |
| Section 101. Short title. This Act may be cited as the | 6 |
| Uniform Power of Attorney Act. | 7 |
| Section 102. Definitions. In this Act: | 8 |
| (1) "Agent" means a person granted authority to act for a | 9 |
| principal under a power of attorney, whether denominated an | 10 |
| agent, attorney-in-fact, or otherwise. The term includes an | 11 |
| original agent, coagent, successor agent, and a person to which | 12 |
| an agent's authority is delegated.
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| (2) "Durable," with respect to a power of attorney, means | 14 |
| not terminated by the principal's incapacity.
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| (3) "Electronic" means relating to technology having | 16 |
| electrical, digital, magnetic, wireless, optical, | 17 |
| electromagnetic, or similar capabilities.
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| (4) "Good faith" means honesty in fact.
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| (5) "Incapacity" means inability of an individual to manage | 20 |
| property or business affairs because the individual:
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| (A) has an impairment in the ability to receive and | 22 |
| evaluate information or make or communicate decisions even |
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| with the use of technological assistance; or
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| (B) is:
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| (i) missing;
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| (ii) detained, including incarcerated in a penal | 5 |
| system; or
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| (iii) outside the United States and unable to | 7 |
| return.
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| (6) "Person" means an individual, corporation, business | 9 |
| trust, estate, trust, partnership, limited liability company, | 10 |
| association, joint venture, public corporation, government or | 11 |
| governmental subdivision, agency, or instrumentality, or any | 12 |
| other legal or commercial entity.
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| (7) "Power of attorney" means a writing or other record | 14 |
| that grants authority to an agent to act in the place of the | 15 |
| principal, whether or not the term power of attorney is used.
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| (8) "Presently exercisable general power of appointment," | 17 |
| with respect to property or a property interest subject to a | 18 |
| power of appointment, means power exercisable at the time in | 19 |
| question to vest absolute ownership in the principal | 20 |
| individually, the principal's estate, the principal's | 21 |
| creditors, or the creditors of the principal's estate. The term | 22 |
| includes a power of appointment not exercisable until the | 23 |
| occurrence of a specified event, the satisfaction of an | 24 |
| ascertainable standard, or the passage of a specified period | 25 |
| only after the occurrence of the specified event, the | 26 |
| satisfaction of the ascertainable standard, or the passage of |
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| the specified period. The term does not include a power | 2 |
| exercisable in a fiduciary capacity or only by will.
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| (9) "Principal" means an individual who grants authority to | 4 |
| an agent in a power of attorney.
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| (10) "Property" means anything that may be the subject of | 6 |
| ownership, whether real or personal, or legal or equitable, or | 7 |
| any interest or right therein.
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| (11) "Record" means information that is inscribed on a | 9 |
| tangible medium or that is stored in an electronic or other | 10 |
| medium and is retrievable in perceivable form.
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| (12) "Sign" means, with present intent to authenticate or | 12 |
| adopt a record:
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| (A) to execute or adopt a tangible symbol; or
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| (B) to attach to or logically associate with the record | 15 |
| an electronic sound, symbol, or process.
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| (13) "State" means a state of the United States, the | 17 |
| District of Columbia, Puerto Rico, the United States Virgin | 18 |
| Islands, or any territory or insular possession subject to the | 19 |
| jurisdiction of the United States.
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| (14) "Stocks and bonds" means stocks, bonds, mutual funds, | 21 |
| and all other types of securities and financial instruments, | 22 |
| whether held directly, indirectly, or in any other manner. The | 23 |
| term does not include commodity futures contracts and call or | 24 |
| put options on stocks or stock indexes.
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| Section 103. Applicability. This Act applies to all powers |
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| of attorney except: | 2 |
| (1) a power to the extent it is coupled with an interest in | 3 |
| the subject of the power, including a power given to or for the | 4 |
| benefit of a creditor in connection with a credit transaction;
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| (2) a power to make health-care decisions;
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| (3) a proxy or other delegation to exercise voting rights | 7 |
| or management rights with respect to an entity; and
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| (4) a power created on a form prescribed by a government or | 9 |
| governmental subdivision, agency, or instrumentality for a | 10 |
| governmental purpose.
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| Section 104. Power of attorney is durable. A power of | 12 |
| attorney created under this Act is durable unless it expressly | 13 |
| provides that it is terminated by the incapacity of the | 14 |
| principal. | 15 |
| Section 105. Execution of power of attorney. A power of | 16 |
| attorney must be signed by the principal or in the principal's | 17 |
| conscious presence by another individual directed by the | 18 |
| principal to sign the principal's name on the power of | 19 |
| attorney. A signature on a power of attorney is presumed to be | 20 |
| genuine if the principal acknowledges the signature before a | 21 |
| notary public or other individual authorized by law to take | 22 |
| acknowledgments. | 23 |
| Section 106. Validity of power of attorney.
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| (a) A power of attorney executed in this state on or after | 2 |
| the effective date of this Act is valid if its execution | 3 |
| complies with Section 105.
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| (b) A power of attorney executed in this state before the | 5 |
| effective date of this Act is valid if its execution complied | 6 |
| with the law of this state as it existed at the time of | 7 |
| execution.
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| (c) A power of attorney executed other than in this state | 9 |
| is valid in this state if, when the power of attorney was | 10 |
| executed, the execution complied with:
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| (1) the law of the jurisdiction that determines the | 12 |
| meaning and effect of the power of attorney pursuant to | 13 |
| Section 107; or
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| (2) the requirements for a military power of attorney | 15 |
| pursuant to 10 U.S.C. Section 1044b, as amended.
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| (d) Except as otherwise provided by statute other than this | 17 |
| Act, a photocopy or electronically transmitted copy of an | 18 |
| original power of attorney has the same effect as the original. | 19 |
| Section 107. Meaning and effect of power of attorney. The | 20 |
| meaning and effect of a power of attorney is determined by the | 21 |
| law of the jurisdiction indicated in the power of attorney and, | 22 |
| in the absence of an indication of jurisdiction, by the law of | 23 |
| the jurisdiction in which the power of attorney was executed. | 24 |
| Section 108. Nomination of conservator or guardian; |
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| relation of agent to court-appointed fiduciary. | 2 |
| (a) In a power of attorney, a principal may nominate a | 3 |
| conservator or guardian of the principal's estate or guardian | 4 |
| of the principal's person for consideration by the court if | 5 |
| protective proceedings for the principal's estate or person are | 6 |
| begun after the principal executes the power of attorney. | 7 |
| Except for good cause shown or disqualification, the court | 8 |
| shall make its appointment in accordance with the principal's | 9 |
| most recent nomination.
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| (b) If, after a principal executes a power of attorney, a | 11 |
| court appoints a conservator or guardian of the principal's | 12 |
| estate or other fiduciary charged with the management of some | 13 |
| or all of the principal's property, the agent is accountable to | 14 |
| the fiduciary as well as to the principal. The power of | 15 |
| attorney is not terminated and the agent's authority continues | 16 |
| unless limited, suspended, or terminated by the court.
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| Section 109. When power of attorney effective. | 18 |
| (a) A power of attorney is effective when executed unless | 19 |
| the principal provides in the power of attorney that it becomes | 20 |
| effective at a future date or upon the occurrence of a future | 21 |
| event or contingency.
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| (b) If a power of attorney becomes effective upon the | 23 |
| occurrence of a future event or contingency, the principal, in | 24 |
| the power of attorney, may authorize one or more persons to | 25 |
| determine in a writing or other record that the event or |
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| contingency has occurred.
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| (c) If a power of attorney becomes effective upon the | 3 |
| principal's incapacity and the principal has not authorized a | 4 |
| person to determine whether the principal is incapacitated, or | 5 |
| the person authorized is unable or unwilling to make the | 6 |
| determination, the power of attorney becomes effective upon a | 7 |
| determination in a writing or other record by:
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| (1) a physician or licensed psychologist that the | 9 |
| principal is incapacitated within the meaning of Section | 10 |
| 102(5)(A); or
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| (2) an attorney at law, a judge, or an appropriate | 12 |
| governmental official that the principal is incapacitated | 13 |
| within the meaning of Section 102(5)(B).
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| (d) A person authorized by the principal in the power of | 15 |
| attorney to determine that the principal is incapacitated may | 16 |
| act as the principal's personal representative pursuant to the | 17 |
| Health Insurance Portability and Accountability Act, Sections | 18 |
| 1171 through 1179 of the Social Security Act, 42 U.S.C. Section | 19 |
| 1320d, as amended, and applicable regulations, to obtain access | 20 |
| to the principal's health-care information and communicate | 21 |
| with the principal's health-care provider. | 22 |
| Section 110. Termination of power of attorney or agent's | 23 |
| authority. | 24 |
| (a) A power of attorney terminates when:
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| (1) the principal dies;
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| (2) the principal becomes incapacitated, if the power | 2 |
| of attorney is not durable;
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| (3) the principal revokes the power of attorney;
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| (4) the power of attorney provides that it terminates;
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| (5) the purpose of the power of attorney is | 6 |
| accomplished; or
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| (6) the principal revokes the agent's authority or the | 8 |
| agent dies, becomes incapacitated, or resigns, and the | 9 |
| power of attorney does not provide for another agent to act | 10 |
| under the power of attorney.
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| (b) An agent's authority terminates when:
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| (1) the principal revokes the authority;
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| (2) the agent dies, becomes incapacitated, or resigns;
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| (3) an action is filed for the dissolution or annulment | 15 |
| of the agent's marriage to the principal or their legal | 16 |
| separation, unless the power of attorney otherwise | 17 |
| provides; or
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| (4) the power of attorney terminates.
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| (c) Unless the power of attorney otherwise provides, an | 20 |
| agent's authority is exercisable until the authority | 21 |
| terminates under subsection (b), notwithstanding a lapse of | 22 |
| time since the execution of the power of attorney.
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| (d) Termination of an agent's authority or of a power of | 24 |
| attorney is not effective as to the agent or another person | 25 |
| that, without actual knowledge of the termination, acts in good | 26 |
| faith under the power of attorney. An act so performed, unless |
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| otherwise invalid or unenforceable, binds the principal and the | 2 |
| principal's successors in interest.
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| (e) Incapacity of the principal of a power of attorney that | 4 |
| is not durable does not revoke or terminate the power of | 5 |
| attorney as to an agent or other person that, without actual | 6 |
| knowledge of the incapacity, acts in good faith under the power | 7 |
| of attorney. An act so performed, unless otherwise invalid or | 8 |
| unenforceable, binds the principal and the principal's | 9 |
| successors in interest.
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| (f) The execution of a power of attorney does not revoke a | 11 |
| power of attorney previously executed by the principal unless | 12 |
| the subsequent power of attorney provides that the previous | 13 |
| power of attorney is revoked or that all other powers of | 14 |
| attorney are revoked.
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| Section 111. Coagents and successor agents. | 16 |
| (a) A principal may designate two or more persons to act as | 17 |
| coagents. Unless the power of attorney otherwise provides, each | 18 |
| coagent may exercise its authority independently.
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| (b) A principal may designate one or more successor agents | 20 |
| to act if an agent resigns, dies, becomes incapacitated, is not | 21 |
| qualified to serve, or declines to serve. A principal may grant | 22 |
| authority to designate one or more successor agents to an agent | 23 |
| or other person designated by name, office, or function. Unless | 24 |
| the power of attorney otherwise provides, a successor agent:
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| (1) has the same authority as that granted to the |
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| original agent; and
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| (2) may not act until all predecessor agents have | 3 |
| resigned, died, become incapacitated, are no longer | 4 |
| qualified to serve, or have declined to serve.
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| (c) Except as otherwise provided in the power of attorney | 6 |
| and subsection (d), an agent that does not participate in or | 7 |
| conceal a breach of fiduciary duty committed by another agent, | 8 |
| including a predecessor agent, is not liable for the actions of | 9 |
| the other agent.
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| (d) An agent that has actual knowledge of a breach or | 11 |
| imminent breach of fiduciary duty by another agent shall notify | 12 |
| the principal and, if the principal is incapacitated, take any | 13 |
| action reasonably appropriate in the circumstances to | 14 |
| safeguard the principal's best interest. An agent that fails to | 15 |
| notify the principal or take action as required by this | 16 |
| subsection is liable for the reasonably foreseeable damages | 17 |
| that could have been avoided if the agent had notified the | 18 |
| principal or taken such action.
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| Section 112. Reimbursement and compensation of agent. | 20 |
| Unless the power of attorney otherwise provides, an agent is | 21 |
| entitled to reimbursement of expenses reasonably incurred on | 22 |
| behalf of the principal and to compensation that is reasonable | 23 |
| under the circumstances. | 24 |
| Section 113. Agent's acceptance. Except as otherwise |
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| provided in the power of attorney, a person accepts appointment | 2 |
| as an agent under a power of attorney by exercising authority | 3 |
| or performing duties as an agent or by any other assertion or | 4 |
| conduct indicating acceptance. | 5 |
| Section 114. Agent's duties. | 6 |
| (a) Notwithstanding provisions in the power of attorney, an | 7 |
| agent that has accepted appointment shall:
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| (1) act in accordance with the principal's reasonable | 9 |
| expectations to the extent actually known by the agent and, | 10 |
| otherwise, in the principal's best interest;
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| (2) act in good faith; and
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| (3) act only within the scope of authority granted in | 13 |
| the power of attorney.
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| (b) Except as otherwise provided in the power of attorney, | 15 |
| an agent that has accepted appointment shall:
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| (1) act loyally for the principal's benefit;
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| (2) act so as not to create a conflict of interest that | 18 |
| impairs the agent's ability to act impartially in the | 19 |
| principal's best interest;
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| (3) act with the care, competence, and diligence | 21 |
| ordinarily exercised by agents in similar circumstances;
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| (4) keep a record of all receipts, disbursements, and | 23 |
| transactions made on behalf of the principal;
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| (5) cooperate with a person that has authority to make | 25 |
| health-care decisions for the principal to carry out the |
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| principal's reasonable expectations to the extent actually | 2 |
| known by the agent and, otherwise, act in the principal's | 3 |
| best interest; and
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| (6) attempt to preserve the principal's estate plan, to | 5 |
| the extent actually known by the agent, if preserving the | 6 |
| plan is consistent with the principal's best interest based | 7 |
| on all relevant factors, including:
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| (A) the value and nature of the principal's | 9 |
| property;
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| (B) the principal's foreseeable obligations and | 11 |
| need for maintenance;
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| (C) minimization of taxes, including income, | 13 |
| estate, inheritance, generation-skipping transfer, and | 14 |
| gift taxes; and
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| (D) eligibility for a benefit, a program, or | 16 |
| assistance under a statute or regulation.
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| (c) An agent that acts in good faith is not liable to any | 18 |
| beneficiary of the principal's estate plan for failure to | 19 |
| preserve the plan.
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| (d) An agent that acts with care, competence, and diligence | 21 |
| for the best interest of the principal is not liable solely | 22 |
| because the agent also benefits from the act or has an | 23 |
| individual or conflicting interest in relation to the property | 24 |
| or affairs of the principal.
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| (e) If an agent is selected by the principal because of | 26 |
| special skills or expertise possessed by the agent or in |
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| reliance on the agent's representation that the agent has | 2 |
| special skills or expertise, the special skills or expertise | 3 |
| must be considered in determining whether the agent has acted | 4 |
| with care, competence, and diligence under the circumstances.
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| (f) Absent a breach of duty to the principal, an agent is | 6 |
| not liable if the value of the principal's property declines.
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| (g) An agent that exercises authority to delegate to | 8 |
| another person the authority granted by the principal or that | 9 |
| engages another person on behalf of the principal is not liable | 10 |
| for an act, error of judgment, or default of that person if the | 11 |
| agent exercises care, competence, and diligence in selecting | 12 |
| and monitoring the person.
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| (h) Except as otherwise provided in the power of attorney, | 14 |
| an agent is not required to disclose receipts, disbursements, | 15 |
| or transactions conducted on behalf of the principal unless | 16 |
| ordered by a court or requested by the principal, a guardian, a | 17 |
| conservator, another fiduciary acting for the principal, a | 18 |
| governmental agency having authority to protect the welfare of | 19 |
| the principal, or, upon the death of the principal, by the | 20 |
| personal representative or successor in interest of the | 21 |
| principal's estate. If so requested, within 30 days the agent | 22 |
| shall comply with the request or provide a writing or other | 23 |
| record substantiating why additional time is needed and shall | 24 |
| comply with the request within an additional 30 days.
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| Section 115. Exoneration of agent. A provision in a power |
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| of attorney relieving an agent of liability for breach of duty | 2 |
| is binding on the principal and the principal's successors in | 3 |
| interest except to the extent the provision: | 4 |
| (1) relieves the agent of liability for breach of duty | 5 |
| committed dishonestly, with an improper motive, or with | 6 |
| reckless indifference to the purposes of the power of attorney | 7 |
| or the best interest of the principal; or
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| (2) was inserted as a result of an abuse of a confidential | 9 |
| or fiduciary relationship with the principal.
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| Section 116. Judicial relief. | 11 |
| (a) The following persons may petition a court to construe | 12 |
| a power of attorney or review the agent's conduct, and grant | 13 |
| appropriate relief:
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| (1) the principal or the agent;
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| (2) a guardian, conservator, or other fiduciary acting | 16 |
| for the principal;
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| (3) a person authorized to make health-care decisions | 18 |
| for the principal;
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| (4) the principal's spouse, parent, or descendant;
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| (5) an individual who would qualify as a presumptive | 21 |
| heir of the principal;
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| (6) a person named as a beneficiary to receive any | 23 |
| property, benefit, or contractual right on the principal's | 24 |
| death or as a beneficiary of a trust created by or for the | 25 |
| principal that has a financial interest in the principal's |
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| estate;
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| (7) a governmental agency having regulatory authority | 3 |
| to protect the welfare of the principal;
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| (8) the principal's caregiver or another person that | 5 |
| demonstrates sufficient interest in the principal's | 6 |
| welfare; and
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| (9) a person asked to accept the power of attorney.
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| (b) Upon motion by the principal, the court shall dismiss a | 9 |
| petition filed under this Section, unless the court finds that | 10 |
| the principal lacks capacity to revoke the agent's authority or | 11 |
| the power of attorney.
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| Section 117. Agent's liability. An agent that violates this | 13 |
| Act is liable to the principal or the principal's successors in | 14 |
| interest for the amount required to: | 15 |
| (1) restore the value of the principal's property to what | 16 |
| it would have been had the violation not occurred; and
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| (2) reimburse the principal or the principal's successors | 18 |
| in interest for the attorney's fees and costs paid on the | 19 |
| agent's behalf.
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| Section 118. Agent's resignation; notice. Unless the power | 21 |
| of attorney provides a different method for an agent's | 22 |
| resignation, an agent may resign by giving notice to the | 23 |
| principal and, if the principal is incapacitated: | 24 |
| (1) to the conservator or guardian, if one has been |
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| appointed for the principal, and a coagent or successor agent; | 2 |
| or
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| (2) if there is no person described in paragraph (1), to:
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| (A) the principal's caregiver;
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| (B) another person reasonably believed by the agent to | 6 |
| have sufficient interest in the principal's welfare; or
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| (C) a governmental agency having authority to protect | 8 |
| the welfare of the principal.
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| Section 119. Acceptance of and reliance upon acknowledged | 10 |
| power of attorney. | 11 |
| (a) For purposes of this Section and Section 120, | 12 |
| "acknowledged" means purportedly verified before a notary | 13 |
| public or other individual authorized to take | 14 |
| acknowledgements.
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| (b) A person that in good faith accepts an acknowledged | 16 |
| power of attorney without actual knowledge that the signature | 17 |
| is not genuine may rely upon the presumption under Section 105 | 18 |
| that the signature is genuine.
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| (c) A person that in good faith accepts an acknowledged | 20 |
| power of attorney without actual knowledge that the power of | 21 |
| attorney is void, invalid, or terminated, that the purported | 22 |
| agent's authority is void, invalid, or terminated, or that the | 23 |
| agent is exceeding or improperly exercising the agent's | 24 |
| authority may rely upon the power of attorney as if the power | 25 |
| of attorney were genuine, valid and still in effect, the |
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| agent's authority were genuine, valid and still in effect, and | 2 |
| the agent had not exceeded and had properly exercised the | 3 |
| authority.
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| (d) A person that is asked to accept an acknowledged power | 5 |
| of attorney may request, and rely upon, without further | 6 |
| investigation:
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| (1) an agent's certification under penalty of perjury | 8 |
| of any factual matter concerning the principal, agent, or | 9 |
| power of attorney;
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| (2) an English translation of the power of attorney if | 11 |
| the power of attorney contains, in whole or in part, | 12 |
| language other than English; and
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| (3) an opinion of counsel as to any matter of law | 14 |
| concerning the power of attorney if the person making the | 15 |
| request provides in a writing or other record the reason | 16 |
| for the request.
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| (e) An English translation or an opinion of counsel | 18 |
| requested under this Section must be provided at the | 19 |
| principal's expense unless the request is made more than seven | 20 |
| business days after the power of attorney is presented for | 21 |
| acceptance.
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| (f) For purposes of this Section and Section 120, a person | 23 |
| that conducts activities through employees is without actual | 24 |
| knowledge of a fact relating to a power of attorney, a | 25 |
| principal, or an agent if the employee conducting the | 26 |
| transaction involving the power of attorney is without actual |
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LRB096 07356 DRJ 17442 b |
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| knowledge of the fact.
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| Section 120. Liability for and refusal to accept | 3 |
| acknowledged power of attorney. | 4 |
| (a) Except as otherwise provided in subsection (b):
| 5 |
| (1) a person shall either accept an acknowledged power | 6 |
| of attorney or request a certification, a translation, or | 7 |
| an opinion of counsel under Section 119(d) no later than | 8 |
| seven business days after presentation of the power of | 9 |
| attorney for acceptance;
| 10 |
| (2) if a person requests a certification, a | 11 |
| translation, or an opinion of counsel under Section 119(d), | 12 |
| the person shall accept the power of attorney no later than | 13 |
| five business days after receipt of the certification, | 14 |
| translation, or opinion of counsel; and
| 15 |
| (3) a person may not require an additional or different | 16 |
| form of power of attorney for authority granted in the | 17 |
| power of attorney presented.
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| (b) A person is not required to accept an acknowledged | 19 |
| power of attorney if:
| 20 |
| (1) the person is not otherwise required to engage in a | 21 |
| transaction with the principal in the same circumstances;
| 22 |
| (2) engaging in a transaction with the agent or the | 23 |
| principal in the same circumstances would be inconsistent | 24 |
| with federal law;
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| (3) the person has actual knowledge of the termination |
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| of the agent's authority or of the power of attorney before | 2 |
| exercise of the power;
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| (4) a request for a certification, a translation, or an | 4 |
| opinion of counsel under Section 119(d) is refused;
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| (5) the person in good faith believes that the power is | 6 |
| not valid or that the agent does not have the authority to | 7 |
| perform the act requested, whether or not a certification, | 8 |
| a translation, or an opinion of counsel under Section | 9 |
| 119(d) has been requested or provided; or
| 10 |
| (6) the person makes, or has actual knowledge that | 11 |
| another person has made, a report to an adult protective | 12 |
| services agency or office, including, without limitation, | 13 |
| a provider agency as defined in Section 2 of the Elder | 14 |
| Abuse and Neglect Act, the Office of the State Long Term | 15 |
| Care Ombudsman, or the Office of the Inspector General for | 16 |
| the Department of Human Services, stating a good faith | 17 |
| belief that the principal may be subject to physical or | 18 |
| financial abuse, neglect, exploitation, or abandonment by | 19 |
| the agent or a person acting for or with the agent.
| 20 |
| (c) A person that refuses in violation of this Section to | 21 |
| accept an acknowledged power of attorney is subject to:
| 22 |
| (1) a court order mandating acceptance of the power of | 23 |
| attorney; and
| 24 |
| (2) liability for reasonable attorney's fees and costs | 25 |
| incurred in any action or proceeding that confirms the | 26 |
| validity of the power of attorney or mandates acceptance of |
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LRB096 07356 DRJ 17442 b |
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| the power of attorney.
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| Section 121. Principles of law and equity. Unless displaced | 3 |
| by a provision of this Act, the principles of law and equity | 4 |
| supplement this Act. | 5 |
| Section 122. Laws applicable to financial institutions and | 6 |
| entities. This Act does not supersede any other law applicable | 7 |
| to financial institutions or other entities, and the other law | 8 |
| controls if inconsistent with this Act. | 9 |
| Section 123. Remedies under the law. The remedies under | 10 |
| this Act are not exclusive and do not abrogate any right or | 11 |
| remedy under the law of this state other than this Act. | 12 |
| ARTICLE 2. AUTHORITY | 13 |
| Section 201. Authority that requires specific grant; grant | 14 |
| of general authority. | 15 |
| (a) An agent under a power of attorney may do the following | 16 |
| on behalf of the principal or with the principal's property | 17 |
| only if the power of attorney expressly grants the agent the | 18 |
| authority and exercise of the authority is not otherwise | 19 |
| prohibited by another agreement or instrument to which the | 20 |
| authority or property is subject:
| 21 |
| (1) create, amend, revoke, or terminate an inter vivos |
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| trust;
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| (2) make a gift;
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| (3) create or change rights of survivorship;
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| (4) create or change a beneficiary designation;
| 5 |
| (5) delegate authority granted under the power of | 6 |
| attorney;
| 7 |
| (6) waive the principal's right to be a beneficiary of | 8 |
| a joint and survivor annuity, including a survivor benefit | 9 |
| under a retirement plan; | 10 |
| (7) exercise fiduciary powers that the principal has | 11 |
| authority to delegate; or
| 12 |
| (8) disclaim property, including a power of | 13 |
| appointment.
| 14 |
| (b) Notwithstanding a grant of authority to do an act | 15 |
| described in subsection (a), unless the power of attorney | 16 |
| otherwise provides, an agent that is not an ancestor, spouse, | 17 |
| or descendant of the principal, may not exercise authority | 18 |
| under a power of attorney to create in the agent, or in an | 19 |
| individual to whom the agent owes a legal obligation of | 20 |
| support, an interest in the principal's property, whether by | 21 |
| gift, right of survivorship, beneficiary designation, | 22 |
| disclaimer, or otherwise.
| 23 |
| (c) Subject to subsections (a), (b), (d), and (e), if a | 24 |
| power of attorney grants to an agent authority to do all acts | 25 |
| that a principal could do, the agent has the general authority | 26 |
| described in Sections 204 through 216.
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| (d) Unless the power of attorney otherwise provides, a | 2 |
| grant of authority to make a gift is subject to Section 217.
| 3 |
| (e) Subject to subsections (a), (b), and (d), if the | 4 |
| subjects over which authority is granted in a power of attorney | 5 |
| are similar or overlap, the broadest authority controls.
| 6 |
| (f) Authority granted in a power of attorney is exercisable | 7 |
| with respect to property that the principal has when the power | 8 |
| of attorney is executed or acquires later, whether or not the | 9 |
| property is located in this state and whether or not the | 10 |
| authority is exercised or the power of attorney is executed in | 11 |
| this state.
| 12 |
| (g) An act performed by an agent pursuant to a power of | 13 |
| attorney has the same effect and inures to the benefit of and | 14 |
| binds the principal and the principal's successors in interest | 15 |
| as if the principal had performed the act.
| 16 |
| Section 202. Incorporation of authority. | 17 |
| (a) An agent has authority described in this Article if the | 18 |
| power of attorney refers to general authority with respect to | 19 |
| the descriptive term for the subjects stated in Sections 204 | 20 |
| through 217 or cites the Section in which the authority is | 21 |
| described.
| 22 |
| (b) A reference in a power of attorney to general authority | 23 |
| with respect to the descriptive term for a subject in Sections | 24 |
| 204 through 217 or a citation to a Section of Sections 204 | 25 |
| through 217 incorporates the entire Section as if it were set |
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LRB096 07356 DRJ 17442 b |
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| out in full in the power of attorney.
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| (c) A principal may modify authority incorporated by | 3 |
| reference.
| 4 |
| Section 203. Construction of authority generally. Except | 5 |
| as otherwise provided in the power of attorney, by executing a | 6 |
| power of attorney that incorporates by reference a subject | 7 |
| described in Sections 204 through 217 or that grants to an | 8 |
| agent authority to do all acts that a principal could do | 9 |
| pursuant to Section 201(c), a principal authorizes the agent, | 10 |
| with respect to that subject, to: | 11 |
| (1) demand, receive, and obtain by litigation or otherwise, | 12 |
| money or another thing of value to which the principal is, may | 13 |
| become, or claims to be entitled, and conserve, invest, | 14 |
| disburse, or use anything so received or obtained for the | 15 |
| purposes intended;
| 16 |
| (2) contract in any manner with any person, on terms | 17 |
| agreeable to the agent, to accomplish a purpose of a | 18 |
| transaction and perform, rescind, cancel, terminate, reform, | 19 |
| restate, release, or modify the contract or another contract | 20 |
| made by or on behalf of the principal;
| 21 |
| (3) execute, acknowledge, seal, deliver, file, or record | 22 |
| any instrument or communication the agent considers desirable | 23 |
| to accomplish a purpose of a transaction, including creating at | 24 |
| any time a schedule listing some or all of the principal's | 25 |
| property and attaching it to the power of attorney;
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| (4) initiate, participate in, submit to alternative | 2 |
| dispute resolution, settle, oppose, or propose or accept a | 3 |
| compromise with respect to a claim existing in favor of or | 4 |
| against the principal or intervene in litigation relating to | 5 |
| the claim;
| 6 |
| (5) seek on the principal's behalf the assistance of a | 7 |
| court or other governmental agency to carry out an act | 8 |
| authorized in the power of attorney;
| 9 |
| (6) engage, compensate, and discharge an attorney, | 10 |
| accountant, discretionary investment manager, expert witness, | 11 |
| or other advisor;
| 12 |
| (7) prepare, execute, and file a record, report, or other | 13 |
| document to safeguard or promote the principal's interest under | 14 |
| a statute or regulation;
| 15 |
| (8) communicate with any representative or employee of a | 16 |
| government or governmental subdivision, agency, or | 17 |
| instrumentality, on behalf of the principal;
| 18 |
| (9) access communications intended for, and communicate on | 19 |
| behalf of the principal, whether by mail, electronic | 20 |
| transmission, telephone, or other means; and
| 21 |
| (10) do any lawful act with respect to the subject and all | 22 |
| property related to the subject.
| 23 |
| Section 204. Real property. Unless the power of attorney | 24 |
| otherwise provides, language in a power of attorney granting | 25 |
| general authority with respect to real property authorizes the |
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| agent to:
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| (1) demand, buy, lease, receive, accept as a gift or as | 3 |
| security for an extension of credit, or otherwise acquire or | 4 |
| reject an interest in real property or a right incident to real | 5 |
| property;
| 6 |
| (2) sell; exchange; convey with or without covenants, | 7 |
| representations, or warranties; quitclaim; release; surrender; | 8 |
| retain title for security; encumber; partition; consent to | 9 |
| partitioning; subject to an easement or covenant; subdivide; | 10 |
| apply for zoning or other governmental permits; plat or consent | 11 |
| to platting; develop; grant an option concerning; lease; | 12 |
| sublease; contribute to an entity in exchange for an interest | 13 |
| in that entity; or otherwise grant or dispose of an interest in | 14 |
| real property or a right incident to real property;
| 15 |
| (3) pledge or mortgage an interest in real property or | 16 |
| right incident to real property as security to borrow money or | 17 |
| pay, renew, or extend the time of payment of a debt of the | 18 |
| principal or a debt guaranteed by the principal;
| 19 |
| (4) release, assign, satisfy, or enforce by litigation or | 20 |
| otherwise a mortgage, deed of trust, conditional sale contract, | 21 |
| encumbrance, lien, or other claim to real property which exists | 22 |
| or is asserted;
| 23 |
| (5) manage or conserve an interest in real property or a | 24 |
| right incident to real property owned or claimed to be owned by | 25 |
| the principal, including:
| 26 |
| (A) insuring against liability or casualty or other |
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LRB096 07356 DRJ 17442 b |
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| loss;
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| (B) obtaining or regaining possession of or protecting | 3 |
| the interest or right by litigation or otherwise;
| 4 |
| (C) paying, assessing, compromising, or contesting | 5 |
| taxes or assessments or applying for and receiving refunds | 6 |
| in connection with them; and
| 7 |
| (D) purchasing supplies, hiring assistance or labor, | 8 |
| and making repairs or alterations to the real property;
| 9 |
| (6) use, develop, alter, replace, remove, erect, or install | 10 |
| structures or other improvements upon real property in or | 11 |
| incident to which the principal has, or claims to have, an | 12 |
| interest or right;
| 13 |
| (7) participate in a reorganization with respect to real | 14 |
| property or an entity that owns an interest in or right | 15 |
| incident to real property and receive, and hold, and act with | 16 |
| respect to stocks and bonds or other property received in a | 17 |
| plan of reorganization, including:
| 18 |
| (A) selling or otherwise disposing of them;
| 19 |
| (B) exercising or selling an option, right of | 20 |
| conversion, or similar right with respect to them; and
| 21 |
| (C) exercising any voting rights in person or by proxy;
| 22 |
| (8) change the form of title of an interest in or right | 23 |
| incident to real property; and
| 24 |
| (9) dedicate to public use, with or without consideration, | 25 |
| easements or other real property in which the principal has, or | 26 |
| claims to have, an interest.
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LRB096 07356 DRJ 17442 b |
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| Section 205. Tangible personal property. Unless the power | 2 |
| of attorney otherwise provides, language in a power of attorney | 3 |
| granting general authority with respect to tangible personal | 4 |
| property authorizes the agent to:
| 5 |
| (1) demand, buy, receive, accept as a gift or as security | 6 |
| for an extension of credit, or otherwise acquire or reject | 7 |
| ownership or possession of tangible personal property or an | 8 |
| interest in tangible personal property;
| 9 |
| (2) sell; exchange; convey with or without covenants, | 10 |
| representations, or warranties; quitclaim; release; surrender; | 11 |
| create a security interest in; grant options concerning; lease; | 12 |
| sublease; or, otherwise dispose of tangible personal property | 13 |
| or an interest in tangible personal property;
| 14 |
| (3) grant a security interest in tangible personal property | 15 |
| or an interest in tangible personal property as security to | 16 |
| borrow money or pay, renew, or extend the time of payment of a | 17 |
| debt of the principal or a debt guaranteed by the principal;
| 18 |
| (4) release, assign, satisfy, or enforce by litigation or | 19 |
| otherwise, a security interest, lien, or other claim on behalf | 20 |
| of the principal, with respect to tangible personal property or | 21 |
| an interest in tangible personal property;
| 22 |
| (5) manage or conserve tangible personal property or an | 23 |
| interest in tangible personal property on behalf of the | 24 |
| principal, including:
| 25 |
| (A) insuring against liability or casualty or other |
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LRB096 07356 DRJ 17442 b |
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| loss;
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| (B) obtaining or regaining possession of or protecting | 3 |
| the property or interest, by litigation or otherwise;
| 4 |
| (C) paying, assessing, compromising, or contesting | 5 |
| taxes or assessments or applying for and receiving refunds | 6 |
| in connection with taxes or assessments;
| 7 |
| (D) moving the property from place to place;
| 8 |
| (E) storing the property for hire or on a gratuitous | 9 |
| bailment; and
| 10 |
| (F) using and making repairs, alterations, or | 11 |
| improvements to the property; and
| 12 |
| (6) change the form of title of an interest in tangible | 13 |
| personal property.
| 14 |
| Section 206. Stocks and bonds. Unless the power of attorney | 15 |
| otherwise provides, language in a power of attorney granting | 16 |
| general authority with respect to stocks and bonds authorizes | 17 |
| the agent to:
| 18 |
| (1) buy, sell, and exchange stocks and bonds;
| 19 |
| (2) establish, continue, modify, or terminate an account | 20 |
| with respect to stocks and bonds;
| 21 |
| (3) pledge stocks and bonds as security to borrow, pay, | 22 |
| renew, or extend the time of payment of a debt of the | 23 |
| principal;
| 24 |
| (4) receive certificates and other evidences of ownership | 25 |
| with respect to stocks and bonds; and
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LRB096 07356 DRJ 17442 b |
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| (5) exercise voting rights with respect to stocks and bonds | 2 |
| in person or by proxy, enter into voting trusts, and consent to | 3 |
| limitations on the right to vote.
| 4 |
| Section 207. Commodities and options. Unless the power of | 5 |
| attorney otherwise provides, language in a power of attorney | 6 |
| granting general authority with respect to commodities and | 7 |
| options authorizes the agent to:
| 8 |
| (1) buy, sell, exchange, assign, settle, and exercise | 9 |
| commodity futures contracts and call or put options on stocks | 10 |
| or stock indexes traded on a regulated option exchange; and
| 11 |
| (2) establish, continue, modify, and terminate option | 12 |
| accounts.
| 13 |
| Section 208. Banks and other financial institutions. | 14 |
| Unless the power of attorney otherwise provides, language in a | 15 |
| power of attorney granting general authority with respect to | 16 |
| banks and other financial institutions authorizes the agent to:
| 17 |
| (1) continue, modify, and terminate an account or other | 18 |
| banking arrangement made by or on behalf of the principal;
| 19 |
| (2) establish, modify, and terminate an account or other | 20 |
| banking arrangement with a bank, trust company, savings and | 21 |
| loan association, credit union, thrift company, brokerage | 22 |
| firm, or other financial institution selected by the agent;
| 23 |
| (3) contract for services available from a financial | 24 |
| institution, including renting a safe deposit box or space in a |
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| vault;
| 2 |
| (4) withdraw, by check, order, electronic funds transfer, | 3 |
| or otherwise, money or property of the principal deposited with | 4 |
| or left in the custody of a financial institution;
| 5 |
| (5) receive statements of account, vouchers, notices, and | 6 |
| similar documents from a financial institution and act with | 7 |
| respect to them;
| 8 |
| (6) enter a safe deposit box or vault and withdraw or add | 9 |
| to the contents;
| 10 |
| (7) borrow money and pledge as security personal property | 11 |
| of the principal necessary to borrow money or pay, renew, or | 12 |
| extend the time of payment of a debt of the principal or a debt | 13 |
| guaranteed by the principal;
| 14 |
| (8) make, assign, draw, endorse, discount, guarantee, and | 15 |
| negotiate promissory notes, checks, drafts, and other | 16 |
| negotiable or nonnegotiable paper of the principal or payable | 17 |
| to the principal or the principal's order, transfer money, | 18 |
| receive the cash or other proceeds of those transactions, and | 19 |
| accept a draft drawn by a person upon the principal and pay it | 20 |
| when due;
| 21 |
| (9) receive for the principal and act upon a sight draft, | 22 |
| warehouse receipt, or other document of title whether tangible | 23 |
| or electronic, or other negotiable or nonnegotiable | 24 |
| instrument;
| 25 |
| (10) apply for, receive, and use letters of credit, credit | 26 |
| and debit cards, electronic transaction authorizations, and |
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| traveler's checks from a financial institution and give an | 2 |
| indemnity or other agreement in connection with letters of | 3 |
| credit; and
| 4 |
| (11) consent to an extension of the time of payment with | 5 |
| respect to commercial paper or a financial transaction with a | 6 |
| financial institution.
| 7 |
| Section 209. Operation of entity or business. Subject to | 8 |
| the terms of a document or an agreement governing an entity or | 9 |
| an entity ownership interest, and unless the power of attorney | 10 |
| otherwise provides, language in a power of attorney granting | 11 |
| general authority with respect to operation of an entity or | 12 |
| business authorizes the agent to:
| 13 |
| (1) operate, buy, sell, enlarge, reduce, or terminate an | 14 |
| ownership interest;
| 15 |
| (2) perform a duty or discharge a liability and exercise in | 16 |
| person or by proxy a right, power, privilege, or option that | 17 |
| the principal has, may have, or claims to have;
| 18 |
| (3) enforce the terms of an ownership agreement;
| 19 |
| (4) initiate, participate in, submit to alternative | 20 |
| dispute resolution, settle, oppose, or propose or accept a | 21 |
| compromise with respect to litigation to which the principal is | 22 |
| a party because of an ownership interest;
| 23 |
| (5) exercise in person or by proxy, or enforce by | 24 |
| litigation or otherwise, a right, power, privilege, or option | 25 |
| the principal has or claims to have as the holder of stocks and |
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LRB096 07356 DRJ 17442 b |
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| bonds;
| 2 |
| (6) initiate, participate in, submit to alternative | 3 |
| dispute resolution, settle, oppose, or propose or accept a | 4 |
| compromise with respect to litigation to which the principal is | 5 |
| a party concerning stocks and bonds;
| 6 |
| (7) with respect to an entity or business owned solely by | 7 |
| the principal:
| 8 |
| (A) continue, modify, renegotiate, extend, and | 9 |
| terminate a contract made by or on behalf of the principal | 10 |
| with respect to the entity or business before execution of | 11 |
| the power of attorney;
| 12 |
| (B) determine:
| 13 |
| (i) the location of its operation;
| 14 |
| (ii) the nature and extent of its business;
| 15 |
| (iii) the methods of manufacturing, selling, | 16 |
| merchandising, financing, accounting, and advertising | 17 |
| employed in its operation;
| 18 |
| (iv) the amount and types of insurance carried; and
| 19 |
| (v) the mode of engaging, compensating, and | 20 |
| dealing with its employees and accountants, attorneys, | 21 |
| or other advisors;
| 22 |
| (C) change the name or form of organization under which | 23 |
| the entity or business is operated and enter into an | 24 |
| ownership agreement with other persons to take over all or | 25 |
| part of the operation of the entity or business; and
| 26 |
| (D) demand and receive money due or claimed by the |
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| principal or on the principal's behalf in the operation of | 2 |
| the entity or business and control and disburse the money | 3 |
| in the operation of the entity or business;
| 4 |
| (8) put additional capital into an entity or business in | 5 |
| which the principal has an interest;
| 6 |
| (9) join in a plan of reorganization, consolidation, | 7 |
| conversion, domestication, or merger of the entity or business;
| 8 |
| (10) sell or liquidate all or part of an entity or | 9 |
| business;
| 10 |
| (11) establish the value of an entity or business under a | 11 |
| buy-out agreement to which the principal is a party;
| 12 |
| (12) prepare, sign, file, and deliver reports, | 13 |
| compilations of information, returns, or other papers with | 14 |
| respect to an entity or business and make related payments; and
| 15 |
| (13) pay, compromise, or contest taxes, assessments, | 16 |
| fines, or penalties and perform any other act to protect the | 17 |
| principal from illegal or unnecessary taxation, assessments, | 18 |
| fines, or penalties, with respect to an entity or business, | 19 |
| including attempts to recover, in any manner permitted by law, | 20 |
| money paid before or after the execution of the power of | 21 |
| attorney.
| 22 |
| Section 210. Insurance and annuities. Unless the power of | 23 |
| attorney otherwise provides, language in a power of attorney | 24 |
| granting general authority with respect to insurance and | 25 |
| annuities authorizes the agent to:
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LRB096 07356 DRJ 17442 b |
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| (1) continue, pay the premium or make a contribution on, | 2 |
| modify, exchange, rescind, release, or terminate a contract | 3 |
| procured by or on behalf of the principal which insures or | 4 |
| provides an annuity to either the principal or another person, | 5 |
| whether or not the principal is a beneficiary under the | 6 |
| contract;
| 7 |
| (2) procure new, different, and additional contracts of | 8 |
| insurance and annuities for the principal and the principal's | 9 |
| spouse, children, and other dependents, and select the amount, | 10 |
| type of insurance or annuity, and mode of payment;
| 11 |
| (3) pay the premium or make a contribution on, modify, | 12 |
| exchange, rescind, release, or terminate a contract of | 13 |
| insurance or annuity procured by the agent;
| 14 |
| (4) apply for and receive a loan secured by a contract of | 15 |
| insurance or annuity;
| 16 |
| (5) surrender and receive the cash surrender value on a | 17 |
| contract of insurance or annuity;
| 18 |
| (6) exercise an election;
| 19 |
| (7) exercise investment powers available under a contract | 20 |
| of insurance or annuity;
| 21 |
| (8) change the manner of paying premiums on a contract of | 22 |
| insurance or annuity;
| 23 |
| (9) change or convert the type of insurance or annuity with | 24 |
| respect to which the principal has or claims to have authority | 25 |
| described in this Section;
| 26 |
| (10) apply for and procure a benefit or assistance under a |
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| statute or regulation to guarantee or pay premiums of a | 2 |
| contract of insurance on the life of the principal;
| 3 |
| (11) collect, sell, assign, hypothecate, borrow against, | 4 |
| or pledge the interest of the principal in a contract of | 5 |
| insurance or annuity;
| 6 |
| (12) select the form and timing of the payment of proceeds | 7 |
| from a contract of insurance or annuity; and
| 8 |
| (13) pay, from proceeds or otherwise, compromise or | 9 |
| contest, and apply for refunds in connection with, a tax or | 10 |
| assessment levied by a taxing authority with respect to a | 11 |
| contract of insurance or annuity or its proceeds or liability | 12 |
| accruing by reason of the tax or assessment.
| 13 |
| Section 211. Estates, trusts, and other beneficial | 14 |
| interests. | 15 |
| (a) In this Section, "estate, trust, or other beneficial | 16 |
| interest" means a trust, probate estate, guardianship, | 17 |
| conservatorship, escrow, or custodianship or a fund from which | 18 |
| the principal is, may become, or claims to be, entitled to a | 19 |
| share or payment.
| 20 |
| (b) Unless the power of attorney otherwise provides, | 21 |
| language in a power of attorney granting general authority with | 22 |
| respect to estates, trusts, and other beneficial interests | 23 |
| authorizes the agent to:
| 24 |
| (1) accept, receive, receipt for, sell, assign, | 25 |
| pledge, or exchange a share in or payment from an estate, |
|
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| trust, or other beneficial interest;
| 2 |
| (2) demand or obtain money or another thing of value to | 3 |
| which the principal is, may become, or claims to be, | 4 |
| entitled by reason of an estate, trust, or other beneficial | 5 |
| interest, by litigation or otherwise;
| 6 |
| (3) exercise for the benefit of the principal a | 7 |
| presently exercisable general power of appointment held by | 8 |
| the principal;
| 9 |
| (4) initiate, participate in, submit to alternative | 10 |
| dispute resolution, settle, oppose, or propose or accept a | 11 |
| compromise with respect to litigation to ascertain the | 12 |
| meaning, validity, or effect of a deed, will, declaration | 13 |
| of trust, or other instrument or transaction affecting the | 14 |
| interest of the principal;
| 15 |
| (5) initiate, participate in, submit to alternative | 16 |
| dispute resolution, settle, oppose, or propose or accept a | 17 |
| compromise with respect to litigation to remove, | 18 |
| substitute, or surcharge a fiduciary;
| 19 |
| (6) conserve, invest, disburse, or use anything | 20 |
| received for an authorized purpose; and
| 21 |
| (7) transfer an interest of the principal in real | 22 |
| property, stocks and bonds, accounts with financial | 23 |
| institutions or securities intermediaries, insurance, | 24 |
| annuities, and other property to the trustee of a revocable | 25 |
| trust created by the principal as settlor. |
|
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| 1 |
| Section 212. Claims and litigation. Unless the power of | 2 |
| attorney otherwise provides, language in a power of attorney | 3 |
| granting general authority with respect to claims and | 4 |
| litigation authorizes the agent to:
| 5 |
| (1) assert and maintain before a court or administrative | 6 |
| agency a claim, claim for relief, cause of action, | 7 |
| counterclaim, offset, recoupment, or defense, including an | 8 |
| action to recover property or other thing of value, recover | 9 |
| damages sustained by the principal, eliminate or modify tax | 10 |
| liability, or seek an injunction, specific performance, or | 11 |
| other relief;
| 12 |
| (2) bring an action to determine adverse claims or | 13 |
| intervene or otherwise participate in litigation;
| 14 |
| (3) seek an attachment, garnishment, order of arrest, or | 15 |
| other preliminary, provisional, or intermediate relief and use | 16 |
| an available procedure to effect or satisfy a judgment, order, | 17 |
| or decree;
| 18 |
| (4) make or accept a tender, offer of judgment, or | 19 |
| admission of facts, submit a controversy on an agreed statement | 20 |
| of facts, consent to examination, and bind the principal in | 21 |
| litigation;
| 22 |
| (5) submit to alternative dispute resolution, settle, and | 23 |
| propose or accept a compromise;
| 24 |
| (6) waive the issuance and service of process upon the | 25 |
| principal, accept service of process, appear for the principal, | 26 |
| designate persons upon which process directed to the principal |
|
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| 1 |
| may be served, execute and file or deliver stipulations on the | 2 |
| principal's behalf, verify pleadings, seek appellate review, | 3 |
| procure and give surety and indemnity bonds, contract and pay | 4 |
| for the preparation and printing of records and briefs, | 5 |
| receive, execute, and file or deliver a consent, waiver, | 6 |
| release, confession of judgment, satisfaction of judgment, | 7 |
| notice, agreement, or other instrument in connection with the | 8 |
| prosecution, settlement, or defense of a claim or litigation;
| 9 |
| (7) act for the principal with respect to bankruptcy or | 10 |
| insolvency, whether voluntary or involuntary, concerning the | 11 |
| principal or some other person, or with respect to a | 12 |
| reorganization, receivership, or application for the | 13 |
| appointment of a receiver or trustee which affects an interest | 14 |
| of the principal in property or other thing of value;
| 15 |
| (8) pay a judgment, award, or order against the principal | 16 |
| or a settlement made in connection with a claim or litigation; | 17 |
| and
| 18 |
| (9) receive money or other thing of value paid in | 19 |
| settlement of or as proceeds of a claim or litigation.
| 20 |
| Section 213. Personal and family maintenance. | 21 |
| (a) Unless the power of attorney otherwise provides, | 22 |
| language in a power of attorney granting general authority with | 23 |
| respect to personal and family maintenance authorizes the agent | 24 |
| to:
| 25 |
| (1) perform the acts necessary to maintain the |
|
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| 1 |
| customary standard of living of the principal, the | 2 |
| principal's spouse, and the following individuals, whether | 3 |
| living when the power of attorney is executed or later | 4 |
| born:
| 5 |
| (A) the principal's children;
| 6 |
| (B) other individuals legally entitled to be | 7 |
| supported by the principal; and
| 8 |
| (C) the individuals whom the principal has | 9 |
| customarily supported or indicated the intent to | 10 |
| support;
| 11 |
| (2) make periodic payments of child support and other | 12 |
| family maintenance required by a court or governmental | 13 |
| agency or an agreement to which the principal is a party;
| 14 |
| (3) provide living quarters for the individuals | 15 |
| described in paragraph (1) by:
| 16 |
| (A) purchase, lease, or other contract; or
| 17 |
| (B) paying the operating costs, including | 18 |
| interest, amortization payments, repairs, | 19 |
| improvements, and taxes, for premises owned by the | 20 |
| principal or occupied by those individuals;
| 21 |
| (4) provide normal domestic help, usual vacations and | 22 |
| travel expenses, and funds for shelter, clothing, food, | 23 |
| appropriate education, including postsecondary and | 24 |
| vocational education, and other current living costs for | 25 |
| the individuals described in paragraph (1);
| 26 |
| (5) pay expenses for necessary health care and |
|
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LRB096 07356 DRJ 17442 b |
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| 1 |
| custodial care on behalf of the individuals described in | 2 |
| paragraph (1);
| 3 |
| (6) act as the principal's personal representative | 4 |
| pursuant to the Health Insurance Portability and | 5 |
| Accountability Act, Sections 1171 through 1179 of the | 6 |
| Social Security Act, 42 U.S.C. Section 1320d, as amended, | 7 |
| and applicable regulations, in making decisions related to | 8 |
| the past, present, or future payment for the provision of | 9 |
| health care consented to by the principal or anyone | 10 |
| authorized under the law of this state to consent to health | 11 |
| care on behalf of the principal;
| 12 |
| (7) continue any provision made by the principal for | 13 |
| automobiles or other means of transportation, including | 14 |
| registering, licensing, insuring, and replacing them, for | 15 |
| the individuals described in paragraph (1);
| 16 |
| (8) maintain credit and debit accounts for the | 17 |
| convenience of the individuals described in paragraph (1) | 18 |
| and open new accounts; and
| 19 |
| (9) continue payments incidental to the membership or | 20 |
| affiliation of the principal in a religious institution, | 21 |
| club, society, order, or other organization or to continue | 22 |
| contributions to those organizations.
| 23 |
| (b) Authority with respect to personal and family | 24 |
| maintenance is neither dependent upon, nor limited by, | 25 |
| authority that an agent may or may not have with respect to | 26 |
| gifts under this Act.
|
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LRB096 07356 DRJ 17442 b |
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| 1 |
| Section 214. Benefits from governmental programs or civil | 2 |
| or military service. | 3 |
| (a) In this Section, "benefits from governmental programs | 4 |
| or civil or military service" means any benefit, program or | 5 |
| assistance provided under a statute or regulation including | 6 |
| Social Security, Medicare, and Medicaid.
| 7 |
| (b) Unless the power of attorney otherwise provides, | 8 |
| language in a power of attorney granting general authority with | 9 |
| respect to benefits from governmental programs or civil or | 10 |
| military service authorizes the agent to:
| 11 |
| (1) execute vouchers in the name of the principal for | 12 |
| allowances and reimbursements payable by the United States | 13 |
| or a foreign government or by a state or subdivision of a | 14 |
| state to the principal, including allowances and | 15 |
| reimbursements for transportation of the individuals | 16 |
| described in Section 213(a)(1), and for shipment of their | 17 |
| household effects;
| 18 |
| (2) take possession and order the removal and shipment | 19 |
| of property of the principal from a post, warehouse, depot, | 20 |
| dock, or other place of storage or safekeeping, either | 21 |
| governmental or private, and execute and deliver a release, | 22 |
| voucher, receipt, bill of lading, shipping ticket, | 23 |
| certificate, or other instrument for that purpose;
| 24 |
| (3) enroll in, apply for, select, reject, change, | 25 |
| amend, or discontinue, on the principal's behalf, a benefit |
|
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| 1 |
| or program;
| 2 |
| (4) prepare, file, and maintain a claim of the | 3 |
| principal for a benefit or assistance, financial or | 4 |
| otherwise, to which the principal may be entitled under a | 5 |
| statute or regulation;
| 6 |
| (5) initiate, participate in, submit to alternative | 7 |
| dispute resolution, settle, oppose, or propose or accept a | 8 |
| compromise with respect to litigation concerning any | 9 |
| benefit or assistance the principal may be entitled to | 10 |
| receive under a statute or regulation; and
| 11 |
| (6) receive the financial proceeds of a claim described | 12 |
| in paragraph (4) and conserve, invest, disburse, or use for | 13 |
| a lawful purpose anything so received.
| 14 |
| Section 215. Retirement plans. | 15 |
| (a) In this Section, "retirement plan" means a plan or | 16 |
| account created by an employer, the principal, or another | 17 |
| individual to provide retirement benefits or deferred | 18 |
| compensation of which the principal is a participant, | 19 |
| beneficiary, or owner, including a plan or account under the | 20 |
| following Sections of the Internal Revenue Code:
| 21 |
| (1) an individual retirement account under Internal | 22 |
| Revenue Code Section 408, 26 U.S.C. Section 408, as | 23 |
| amended;
| 24 |
| (2) a Roth individual retirement account under | 25 |
| Internal Revenue Code Section 408A, 26 U.S.C. Section 408A, |
|
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| 1 |
| as amended;
| 2 |
| (3) a deemed individual retirement account under | 3 |
| Internal Revenue Code Section 408(q), 26 U.S.C. Section | 4 |
| 408(q), as amended;
| 5 |
| (4) an annuity or mutual fund custodial account under | 6 |
| Internal Revenue Code Section 403(b), 26 U.S.C. Section | 7 |
| 403(b), as amended;
| 8 |
| (5) a pension, profit-sharing, stock bonus, or other | 9 |
| retirement plan qualified under Internal Revenue Code | 10 |
| Section 401(a), 26 U.S.C. Section 401(a), as amended;
| 11 |
| (6) a plan under Internal Revenue Code Section 457(b), | 12 |
| 26 U.S.C. Section 457(b), as amended; and
| 13 |
| (7) a nonqualified deferred compensation plan under | 14 |
| Internal Revenue Code Section 409A, 26 U.S.C. Section 409A, | 15 |
| as amended.
| 16 |
| (b) Unless the power of attorney otherwise provides, | 17 |
| language in a power of attorney granting general authority with | 18 |
| respect to retirement plans authorizes the agent to:
| 19 |
| (1) select the form and timing of payments under a | 20 |
| retirement plan and withdraw benefits from a plan;
| 21 |
| (2) make a rollover, including a direct | 22 |
| trustee-to-trustee rollover, of benefits from one | 23 |
| retirement plan to another;
| 24 |
| (3) establish a retirement plan in the principal's | 25 |
| name;
| 26 |
| (4) make contributions to a retirement plan;
|
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LRB096 07356 DRJ 17442 b |
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| 1 |
| (5) exercise investment powers available under a | 2 |
| retirement plan; and
| 3 |
| (6) borrow from, sell assets to, or purchase assets | 4 |
| from a retirement plan.
| 5 |
| Section 216. Taxes. Unless the power of attorney otherwise | 6 |
| provides, language in a power of attorney granting general | 7 |
| authority with respect to taxes authorizes the agent to:
| 8 |
| (1) prepare, sign, and file federal, state, local, and | 9 |
| foreign income, gift, payroll, property, Federal Insurance | 10 |
| Contributions Act, and other tax returns, claims for refunds, | 11 |
| requests for extension of time, petitions regarding tax | 12 |
| matters, and any other tax-related documents, including | 13 |
| receipts, offers, waivers, consents, including consents and | 14 |
| agreements under Internal Revenue Code Section 2032A, 26 U.S.C. | 15 |
| Section 2032A, as amended, closing agreements, and any power of | 16 |
| attorney required by the Internal Revenue Service or other | 17 |
| taxing authority with respect to a tax year upon which the | 18 |
| statute of limitations has not run and the following 25 tax | 19 |
| years;
| 20 |
| (2) pay taxes due, collect refunds, post bonds, receive | 21 |
| confidential information, and contest deficiencies determined | 22 |
| by the Internal Revenue Service or other taxing authority;
| 23 |
| (3) exercise any election available to the principal under | 24 |
| federal, state, local, or foreign tax law; and
| 25 |
| (4) act for the principal in all tax matters for all |
|
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LRB096 07356 DRJ 17442 b |
|
| 1 |
| periods before the Internal Revenue Service, or other taxing | 2 |
| authority.
| 3 |
| Section 217. Gifts. | 4 |
| (a) In this Section, a gift "for the benefit of" a person | 5 |
| includes a gift to a trust, an account under the Uniform | 6 |
| Transfers to Minors Act, and a tuition savings account or | 7 |
| prepaid tuition plan as defined under Internal Revenue Code | 8 |
| Section 529, 26 U.S.C. Section 529, as amended.
| 9 |
| (b) Unless the power of attorney otherwise provides, | 10 |
| language in a power of attorney granting general authority with | 11 |
| respect to gifts authorizes the agent only to:
| 12 |
| (1) make outright to, or for the benefit of, a person, | 13 |
| a gift of any of the principal's property, including by the | 14 |
| exercise of a presently exercisable general power of | 15 |
| appointment held by the principal, in an amount per donee | 16 |
| not to exceed the annual dollar limits of the federal gift | 17 |
| tax exclusion under Internal Revenue Code Section 2503(b), | 18 |
| 26 U.S.C. Section 2503(b), as amended, without regard to | 19 |
| whether the federal gift tax exclusion applies to the gift, | 20 |
| or if the principal's spouse agrees to consent to a split | 21 |
| gift pursuant to Internal Revenue Code Section 2513, 26 | 22 |
| U.S.C. 2513, as amended, in an amount per donee not to | 23 |
| exceed twice the annual federal gift tax exclusion limit; | 24 |
| and
| 25 |
| (2) consent, pursuant to Internal Revenue Code Section |
|
|
|
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LRB096 07356 DRJ 17442 b |
|
| 1 |
| 2513, 26 U.S.C. Section 2513, as amended, to the splitting | 2 |
| of a gift made by the principal's spouse in an amount per | 3 |
| donee not to exceed the aggregate annual gift tax | 4 |
| exclusions for both spouses.
| 5 |
| (c) An agent may make a gift of the principal's property | 6 |
| only as the agent determines is consistent with the principal's | 7 |
| objectives if actually known by the agent and, if unknown, as | 8 |
| the agent determines is consistent with the principal's best | 9 |
| interest based on all relevant factors, including:
| 10 |
| (1) the value and nature of the principal's property;
| 11 |
| (2) the principal's foreseeable obligations and need | 12 |
| for maintenance;
| 13 |
| (3) minimization of taxes, including income, estate, | 14 |
| inheritance, generation-skipping transfer, and gift taxes;
| 15 |
| (4) eligibility for a benefit, a program, or assistance | 16 |
| under a statute or regulation; and
| 17 |
| (5) the principal's personal history of making or | 18 |
| joining in making gifts.
| 19 |
| ARTICLE 3. STATUTORY FORMS | 20 |
| Section 301. Statutory form power of attorney. A document | 21 |
| substantially in the following form may be used to create a | 22 |
| statutory form power of attorney that has the meaning and | 23 |
| effect prescribed by this Act. |
|
|
|
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LRB096 07356 DRJ 17442 b |
|
| 1 |
| ILLINOIS | 2 |
| STATUTORY FORM POWER OF ATTORNEY | 3 |
| IMPORTANT INFORMATION | 4 |
| This power of attorney authorizes another person (your agent) | 5 |
| to make decisions concerning your property for you (the | 6 |
| principal). Your agent will be able to make decisions and act | 7 |
| with respect to your property (including your money) whether or | 8 |
| not you are able to act for yourself. The meaning of authority | 9 |
| over subjects listed on this form is explained in the Uniform | 10 |
| Power of Attorney Act [insert citation]. | 11 |
| This power of attorney does not authorize the agent to make | 12 |
| health-care decisions for you. | 13 |
| You should select someone you trust to serve as your agent. | 14 |
| Unless you specify otherwise, generally the agent's authority | 15 |
| will continue until you die or revoke the power of attorney or | 16 |
| the agent resigns or is unable to act for you. | 17 |
| Your agent is entitled to reasonable compensation unless you | 18 |
| state otherwise in the Special Instructions. | 19 |
| This form provides for designation of one agent. If you wish to |
|
|
|
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LRB096 07356 DRJ 17442 b |
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| 1 |
| name more than one agent you may name a coagent in the Special | 2 |
| Instructions. Coagents are not required to act together unless | 3 |
| you include that requirement in the Special Instructions. | 4 |
| If your agent is unable or unwilling to act for you, your power | 5 |
| of attorney will end unless you have named a successor agent. | 6 |
| You may also name a second successor agent. | 7 |
| This power of attorney becomes effective immediately unless you | 8 |
| state otherwise in the Special Instructions. | 9 |
| If you have questions about the power of attorney or the | 10 |
| authority you are granting to your agent, you should seek legal | 11 |
| advice before signing this form. | 12 |
| DESIGNATION OF AGENT | 13 |
| I . (Name of Principal)
name the following
person as my agent:
| 14 |
| Name of Agent: ......... | 15 |
| Agent's Address: .... | 16 |
| Agent's Telephone Number: ................................... | 17 |
| DESIGNATION OF SUCCESSOR AGENT(S) (OPTIONAL) | 18 |
| If my agent is unable or unwilling to act for me, I name as my |
|
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LRB096 07356 DRJ 17442 b |
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| 1 |
| successor agent: | 2 |
| Name of Successor Agent: .. | 3 |
| Successor Agent's Address: . | 4 |
| Successor Agent's Telephone Number: ......................... | 5 |
| If my successor agent is unable or unwilling to act for me, I | 6 |
| name as my second successor agent: | 7 |
| Name of Second Successor Agent: . | 8 |
| Second Successor Agent's Address: . | 9 |
| Second Successor Agent's Telephone Number: .................. | 10 |
| GRANT OF GENERAL AUTHORITY | 11 |
| I grant my agent and any successor agent general authority to | 12 |
| act for me with respect to the following subjects as defined in | 13 |
| the Uniform Power of Attorney Act [insert citation]: | 14 |
| (INITIAL each subject you want to include in the agent's | 15 |
| general authority. If you wish to grant general authority over | 16 |
| all of the subjects you may initial "All Preceding Subjects" | 17 |
| instead of initialing each subject.) | 18 |
| (...) Real Property
| 19 |
| (...) Tangible Personal Property
|
|
|
|
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LRB096 07356 DRJ 17442 b |
|
| 1 |
| (...) Stocks and Bonds
| 2 |
| (...) Commodities and Options
| 3 |
| (...) Banks and Other Financial Institutions
| 4 |
| (...) Operation of Entity or Business
| 5 |
| (...) Insurance and Annuities
| 6 |
| (...) Estates, Trusts, and Other Beneficial Interests
| 7 |
| (...) Claims and Litigation
| 8 |
| (...) Personal and Family Maintenance
| 9 |
| (...) Benefits from Governmental Programs or Civil or Military | 10 |
| Service
| 11 |
| (...) Retirement Plans
| 12 |
| (...) Taxes
| 13 |
| (...) All Preceding Subjects
| 14 |
| GRANT OF SPECIFIC AUTHORITY (OPTIONAL) | 15 |
| My agent MAY NOT do any of the following specific acts for me | 16 |
| UNLESS I have INITIALED the specific authority listed below: | 17 |
| (CAUTION: Granting any of the following will give your agent | 18 |
| the authority to take actions that could significantly reduce | 19 |
| your property or change how your property is distributed at | 20 |
| your death. INITIAL ONLY the specific authority you WANT to | 21 |
| give your agent.) | 22 |
| (...) Create, amend, revoke, or terminate an inter vivos trust
|
|
|
|
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LRB096 07356 DRJ 17442 b |
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| 1 |
| (...) Make a gift, subject to the limitations of the Uniform | 2 |
| Power of Attorney Act [insert citation to Section 217 of the | 3 |
| act] and any special instructions in this power of attorney
| 4 |
| (...) Create or change rights of survivorship
| 5 |
| (...) Create or change a beneficiary designation
| 6 |
| (...) Authorize another person to exercise the authority | 7 |
| granted under this power of attorney
| 8 |
| (...) Waive the principal's right to be a beneficiary of a | 9 |
| joint and survivor annuity, including a survivor benefit under | 10 |
| a retirement plan
| 11 |
| (...) Exercise fiduciary powers that the principal has | 12 |
| authority to delegate
| 13 |
| (...) Disclaim or refuse an interest in property, including a | 14 |
| power of appointment
| 15 |
| LIMITATION ON AGENT'S AUTHORITY | 16 |
| An agent that is not my ancestor, spouse, or descendant MAY NOT | 17 |
| use my property to benefit the agent or a person to whom the | 18 |
| agent owes an obligation of support unless I have included that | 19 |
| authority in the Special Instructions. | 20 |
| SPECIAL INSTRUCTIONS (OPTIONAL) | 21 |
| You may give special instructions on the following lines:
| 22 |
| . |
|
|
|
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LRB096 07356 DRJ 17442 b |
|
| 1 |
| .............................. | 2 |
| .............................. | 3 |
| .............................. | 4 |
| EFFECTIVE DATE | 5 |
| This power of attorney is effective immediately unless I have | 6 |
| stated otherwise in the Special Instructions. | 7 |
| NOMINATION OF CONSERVATOR OR GUARDIAN (OPTIONAL) | 8 |
| If it becomes necessary for a court to appoint a conservator or | 9 |
| guardian of my estate or guardian of my person, I nominate the | 10 |
| following person(s) for appointment: | 11 |
| Name of Nominee for conservator or guardian of my estate:
| 12 |
| .. | 13 |
| Nominee's Address: . | 14 |
| Nominee's Telephone Number: . | 15 |
| Name of Nominee for guardian of my person: . | 16 |
| Nominee's Address: . | 17 |
| Nominee's Telephone Number: ..................... | 18 |
| RELIANCE ON THIS POWER OF ATTORNEY | 19 |
| Any person, including my agent, may rely upon the validity of |
|
|
|
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LRB096 07356 DRJ 17442 b |
|
| 1 |
| this power of attorney or a copy of it unless that person knows | 2 |
| it has terminated or is invalid. | 3 |
| SIGNATURE AND ACKNOWLEDGMENT | 4 |
| ................... ................... | 5 |
| Your Signature Date | 6 |
| ................. | 7 |
| Your Name Printed
| 8 |
| .......................................... | 9 |
| .............................. | 10 |
| Your Address
| 11 |
| ................................................ | 12 |
| Your Telephone Number
| 13 |
| State of ..................... | 14 |
| County of . | 15 |
| This document was acknowledged before me on ......., (Date)
| 16 |
| by ...........
(Name of Principal)
| 17 |
| ...... (Seal, if any)
| 18 |
| Signature of Notary | 19 |
| My commission expires: ...................................... | 20 |
| This document prepared by: | 21 |
| ...................................
| 22 |
| ........................................................... |
|
|
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LRB096 07356 DRJ 17442 b |
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| 1 |
| IMPORTANT INFORMATION FOR AGENT | 2 |
| Agent's Duties | 3 |
| When you accept the authority granted under this power of | 4 |
| attorney, a special legal relationship is created between you | 5 |
| and the principal. This relationship imposes upon you legal | 6 |
| duties that continue until you resign or the power of attorney | 7 |
| is terminated or revoked. You must:
| 8 |
| (1) do what you know the principal reasonably expects you to do | 9 |
| with the principal's property or, if you do not know the | 10 |
| principal's expectations, act in the principal's best | 11 |
| interest;
| 12 |
| (2) act in good faith;
| 13 |
| (3) do nothing beyond the authority granted in this power of | 14 |
| attorney; and
| 15 |
| (4) disclose your identity as an agent whenever you act for the | 16 |
| principal by writing or printing the name of the principal and | 17 |
| signing your own name as "agent" in the following manner:
| 18 |
| (Principal's Name) by (Your Signature) as Agent | 19 |
| Unless the Special Instructions in this power of attorney state | 20 |
| otherwise, you must also: |
|
|
|
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LRB096 07356 DRJ 17442 b |
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| 1 |
| (1) act loyally for the principal's benefit;
| 2 |
| (2) avoid conflicts that would impair your ability to act in | 3 |
| the principal's best interest;
| 4 |
| (3) act with care, competence, and diligence;
| 5 |
| (4) keep a record of all receipts, disbursements, and | 6 |
| transactions made on behalf of the principal;
| 7 |
| (5) cooperate with any person that has authority to make | 8 |
| health-care decisions for the principal to do what you know the | 9 |
| principal reasonably expects or, if you do not know the | 10 |
| principal's expectations, to act in the principal's best | 11 |
| interest; and
| 12 |
| (6) attempt to preserve the principal's estate plan if you know | 13 |
| the plan and preserving the plan is consistent with the | 14 |
| principal's best interest.
| 15 |
| Termination of Agent's Authority | 16 |
| You must stop acting on behalf of the principal if you learn of | 17 |
| any event that terminates this power of attorney or your | 18 |
| authority under this power of attorney. Events that terminate a | 19 |
| power of attorney or your authority to act under a power of | 20 |
| attorney include: | 21 |
| (1) death of the principal;
| 22 |
| (2) the principal's revocation of the power of attorney or your |
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| authority;
| 2 |
| (3) the occurrence of a termination event stated in the power | 3 |
| of attorney;
| 4 |
| (4) the purpose of the power of attorney is fully accomplished; | 5 |
| or
| 6 |
| (5) if you are married to the principal, a legal action is | 7 |
| filed with a court to end your marriage, or for your legal | 8 |
| separation, unless the Special Instructions in this power of | 9 |
| attorney state that such an action will not terminate your | 10 |
| authority.
| 11 |
| Liability of Agent | 12 |
| The meaning of the authority granted to you is defined in the | 13 |
| Uniform Power of Attorney Act [insert citation]. If you violate | 14 |
| the Uniform Power of Attorney Act [insert citation] or act | 15 |
| outside the authority granted, you may be liable for any | 16 |
| damages caused by your violation. | 17 |
| If there is anything about this document or your duties that | 18 |
| you do not understand, you should seek legal advice. | 19 |
| Section 302. Agent's certification. The following optional | 20 |
| form may be used by an agent to certify facts concerning a | 21 |
| power of attorney. |
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| AGENT'S CERTIFICATION AS TO THE VALIDITY OF POWER OF ATTORNEY | 2 |
| AND AGENT'S AUTHORITY | 3 |
| State of ................................................... | 4 |
| County of ..................................................
| 5 |
| I, ... (Name of Agent), certify under penalty of perjury that | 6 |
| ............................................................ (Name of Principal) granted me authority as an agent or | 7 |
| successor agent in a power of attorney dated ................ | 8 |
| I further certify that to my knowledge: | 9 |
| (1) the Principal is alive and has not revoked the Power of | 10 |
| Attorney or my authority to act under the Power of Attorney and | 11 |
| the Power of Attorney and my authority to act under the Power | 12 |
| of Attorney have not terminated;
| 13 |
| (2) if the Power of Attorney was drafted to become | 14 |
| effective upon the happening of an event or contingency, the | 15 |
| event or contingency has occurred;
| 16 |
| (3) if I was named as a successor agent, the prior agent is | 17 |
| no longer able or willing to serve; and
| 18 |
| (4) .......................... | 19 |
| .......................... | 20 |
| .............................. | 21 |
| (Insert other relevant statements)
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| SIGNATURE AND ACKNOWLEDGMENT | 2 |
| ................... ................... | 3 |
| Your Signature Date | 4 |
| ................. | 5 |
| Agent's Name Printed
| 6 |
| ....................................... | 7 |
| .............................. | 8 |
| Agent's Address
| 9 |
| ............................................. | 10 |
| Agent's Telephone Number
| 11 |
| This document was acknowledged before me on ......., (Date)
| 12 |
| by ...............
(Name of Agent)
| 13 |
| ........ (Seal, if any)
| 14 |
| Signature of Notary | 15 |
| My commission expires: ...................................... | 16 |
| This document prepared by:
| 17 |
| ........................................................... | 18 |
| .............................. | 19 |
| ARTICLE 4. MISCELLANEOUS PROVISIONS | 20 |
| Section 401. Uniformity of application and construction. | 21 |
| In applying and construing this uniform act, consideration must |
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| be given to the need to promote uniformity of the law with | 2 |
| respect to its subject matter among the states that enact it. | 3 |
| Section 402. Relation to electronic signatures in Global | 4 |
| and National Commerce Act. This Act modifies, limits, and | 5 |
| supersedes the federal Electronic Signatures in Global and | 6 |
| National Commerce Act,15 U.S.C. Section 7001 et seq., but does | 7 |
| not modify, limit, or supersede Section 101(c) of that act, 15 | 8 |
| U.S.C. Section 7001(c), or authorize electronic delivery of any | 9 |
| of the notices described in Section 103(b) of that act, 15 | 10 |
| U.S.C. Section 7003(b). | 11 |
| Section 403. Effect on existing powers of attorney. Except | 12 |
| as otherwise provided in this Act, on the effective date of | 13 |
| this Act:
| 14 |
| (1) this Act applies to a power of attorney created before, | 15 |
| on, or after the effective date of this Act;
| 16 |
| (2) this Act applies to a judicial proceeding concerning a | 17 |
| power of attorney commenced on or after the effective date of | 18 |
| this Act;
| 19 |
| (3) this Act applies to a judicial proceeding concerning a | 20 |
| power of attorney commenced before the effective date of this | 21 |
| Act unless the court finds that application of a provision of | 22 |
| this Act would substantially interfere with the effective | 23 |
| conduct of the judicial proceeding or prejudice the rights of a | 24 |
| party, in which case that provision does not apply and the |
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| superseded law applies; and
| 2 |
| (4) an act done before the effective date of this Act is | 3 |
| not affected by this Act.
| 4 |
| (755 ILCS 45/Art. II rep.)
| 5 |
| (755 ILCS 45/Art. III rep.)
| 6 |
| Section 404. Repeal. The following are repealed: | 7 |
| Articles II and III of the Illinois Power of Attorney Act.
| 8 |
| Section 405. Effective date. This Act takes effect upon | 9 |
| becoming law.
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