18-C §5-945. Retirement plans
§5-945. Retirement plans 1. Definition. As used in this section, “retirement plan” means a plan or account created by an employer, the principal or another individual to provide retirement benefits or deferred compensation of which the principal is a participant, beneficiary or owner, including a plan or account under the following sections of the federal […]
18-C §5-946. Taxes
§5-946. Taxes Unless the power of attorney otherwise provides, language in a power of attorney granting general authority with respect to taxes authorizes the agent to: [PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).] 1. Prepare, sign and file returns and other documents. Prepare, sign and […]
18-C §5-947. Gifts
§5-947. Gifts 1. Gift. For the purposes of this section, a gift for the benefit of a person includes a gift to a trust, an account under the Maine Uniform Transfers to Minors Act and a tuition savings account or prepaid tuition plan as defined under 26 United States Code, Section 529, as amended. […]
18-C §5-951. Agent’s certification
§5-951. Agent’s certification The following optional form may be used by an agent to certify facts concerning a power of attorney. AGENT’S CERTIFICATION AS TO THE VALIDITY OF POWER OF ATTORNEY AND AGENT’S AUTHORITY State of ………………………………………………. County of ……………………………………………. I, ……………………………………………………………. (Name of Agent), certify under penalty of perjury that …………………………………………………………. (Name of Principal) […]
18-C §5-961. Uniformity of application and construction
§5-961. Uniformity of application and construction In applying and construing this Part, consideration must be given to the need to promote uniformity of the law with respect to its subject matter among the states that enact it. [PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).] SECTION […]
18-C §5-962. Relation to Electronic Signatures in Global and National Commerce Act
§5-962. Relation to Electronic Signatures in Global and National Commerce Act This Part modifies, limits and supersedes the federal Electronic Signatures in Global and National Commerce Act, 15 United States Code, Section 7001 et seq., but does not modify, limit or supersede 15 United States Code, Section 7001(c) or authorize electronic delivery of any of […]
18-C §5-912. Reimbursement and compensation of agent
§5-912. Reimbursement and compensation of agent Unless the power of attorney otherwise provides, an agent is entitled to reimbursement of expenses reasonably incurred on behalf of the principal and to compensation that is reasonable under the circumstances. The factors set forth in section 3-721, subsection 2 should be considered as guides in determining the reasonableness […]
18-C §5-935. Tangible personal property
§5-935. Tangible personal property Unless the power of attorney otherwise provides, language in a power of attorney granting general authority with respect to tangible personal property authorizes the agent to: [PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).] 1. Acquire or reject interest in tangible personal […]
18-C §5-913. Agent’s acceptance
§5-913. Agent’s acceptance Except as otherwise provided in the power of attorney, a person accepts appointment as an agent under a power of attorney by exercising authority or performing duties as an agent or by any other assertion or conduct indicating acceptance. [PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, […]
18-C §5-914. Agent’s duties
§5-914. Agent’s duties 1. Minimum mandatory duties. Notwithstanding provisions in the power of attorney, an agent that has accepted appointment shall: A. Act in accordance with the principal’s reasonable expectations to the extent actually known by the agent and otherwise act as a fiduciary under the standards of care applicable to trustees as described […]