Sec. 1. 18-A MRSA §5-508, sub-§(g), as enacted by PL 1997, c. 683, Pt. C, §6, is amended to read:

(g) The requirements of subsections (b), (c) and (d) do not render ineffective a durable financial power of attorney validly executed prior to September 19, 1997 or a durable financial power of attorney executed prior to December 31, 1998 in accordance with this section as in effect on September 19, 1997.

SUMMARY

This bill clarifies the effective date of certain corrections made to provisions pertaining to powers of attorney that were enacted as emergency legislation during the Second Special Session of the 118th Legislature. This bill is intended to acknowledge that the enactment of the Maine Revised Statutes, Title 18-A, section 5-508 represented a modification of existing law. The corrective emergency legislation, effective April 3, 1998, amended statutory notices that were required to be included with durable financial powers of attorney executed after September 19, 1997. Subsection (g) of the corrective emergency legislation currently renders ineffective durable financial powers of attorney executed after September 19, 1997 and prior to April 3, 1998. This bill delays the effective date of the modification until December 31, 1998.