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Code of Virginia (Last Updated:July 28, 2020) |
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TITLE 64.2. Wills, Trusts, and Fiduciaries |
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SUBTITLE IV. Fiduciaries and Guardians |
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PART B. Powers of Attorney |
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CHAPTER 16. Uniform Power of Attorney Act |
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ARTICLE 1. General Provisions |
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SECTION 64.2-1613. Exoneration of agent |
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A provision in a power of attorney relieving an agent of liability for breach of duty is binding on the principal and the principal's successors in interest except to the extent the provision: 1. Relieves the agent of liability for breach of duty committed dishonestly, with an improper motive, or with reckless indifference to the purposes of the power of attorney or the best interest of the principal; or 2. Was inserted as a result of an abuse of a confidential or fiduciary relationship with the principal. |