Sec. 1. The attorney in fact is not required to exercise the powers granted under the power of attorney or to assume control of or responsibility for any of the principal’s property, care, or affairs, regardless of the principal’s physical or mental condition. As added by P.L.149-1991, SEC.2.
Sec. 2. Except as otherwise stated in the power of attorney, the attorney in fact shall use due care to act for the benefit of the principal under the terms of the power of attorney. As added by P.L.149-1991, SEC.2.
Sec. 3. An attorney in fact shall exercise all powers granted under the power of attorney in a fiduciary capacity. As added by P.L.149-1991, SEC.2.
Sec. 4. (a) The attorney in fact shall keep complete records of all transactions entered into by the attorney in fact on behalf of the principal: (1) for six (6) years after the date of the transaction; or (2) until the records are delivered to the successor attorney in fact; whichever occurs first. (b) Except […]
Sec. 4.1. (a) An attorney in fact is entitled to judicial review and settlement of an account of all transactions entered into by the attorney in fact, whether or not: (1) the attorney in fact’s authority under the power of attorney has been revoked; or (2) a request for an accounting is made under section […]
Sec. 4.2. (a) This section applies to a claim against an attorney in fact by: (1) the principal; (2) the principal’s guardian; (3) the principal’s personal representative; or (4) any person claiming through the principal following death. (b) Except as provided in subsection (c), any claim against an attorney in fact that has not previously […]
Sec. 4.5. (a) An attorney in fact has the authority to employ persons, including: (1) attorneys; (2) accountants; (3) investment advisers; and (4) agents; to assist the attorney in fact in the performance of the attorney in fact’s fiduciary duties. Any reasonable costs incurred with regard to services rendered for the benefit of the principal […]
Sec. 5. The attorney in fact shall ascertain whether the principal has notified the principal’s health care providers that a power of attorney has been executed. If the principal has not notified the principal’s health care providers of the existence of a power of attorney, the attorney in fact shall notify the health care providers […]
