An Act To Enact the Maine Uniform Power of Attorney Act
Sec. 1. 18-A MRSA Art. 5, Pt. 5, as amended, is repealed.
Sec. 2. 18-A MRSA Art. 5, Pt. 9 is enacted to read:
MAINE UNIFORM POWER OF ATTORNEY ACT
GENERAL PROVISIONS AND DEFINITIONS
§ 5-901. Short title
This Part may be known and cited as "the Maine Uniform Power of Attorney Act."
§ 5-902. Definitions
As used in this Part, unless the context otherwise indicates, the following terms have the following meanings.
(ii) Detained, including incarcerated in a penal system; or
(iii) Outside the United States and unable to return.
§ 5-903. Applicability
This Part applies to all powers of attorney except:
§ 5-904. Power of attorney is durable
A power of attorney created under this Part is durable unless it expressly provides that it is terminated by the incapacity of the principal.
§ 5-905. Execution of power of attorney; notices
"Notice to the Principal: As the "Principal" you are using this power of attorney to grant power to another person (called the Agent) to make decisions about your property and to use your property on your behalf. Under this power of attorney you give your Agent broad and sweeping powers to sell or otherwise dispose of your property without notice to you. Under this document your Agent will continue to have these powers after you become incapacitated. The powers that you give your Agent are explained more fully in the Maine Uniform Power of Attorney Act, Maine Revised Statutes, Title 18-A, Article 5, Part 9. You have the right to revoke this power of attorney at any time as long as you are not incapacitated. If there is anything about this power of attorney that you do not understand you should ask a lawyer to explain it to you.
Notice to the Agent: As the "Agent" you are given power under this power of attorney to make decisions about the property belonging to the Principal and to dispose of the Principal's property on the Principal's behalf in accordance with the terms of this power of attorney. This power of attorney is valid only if the Principal is of sound mind when the Principal signs it. When you accept the authority granted under this power of attorney a special legal relationship is created between you and the Principal. This relationship imposes upon you legal duties that continue until you resign or the power of attorney is terminated or revoked. The duties are more fully explained in the Maine Uniform Power of Attorney Act, Maine Revised Statutes, Title 18-A, Article 5, Part 9 and Title 18-B, sections 802 to 807 and Title 18-B, chapter 9. As the Agent, you are generally not entitled to use the Principal's property for your own benefit or to make gifts to yourself or others unless the power of attorney gives you such authority. If you violate your duty under this power of attorney you may be liable for damages and may be subject to criminal prosecution. You must stop acting on behalf of the Principal if you learn of any event that terminates this power of attorney or your authority under this power of attorney. Events of termination are more fully explained in the Maine Uniform Power of Attorney Act and include, but are not limited to, revocation of your authority or of the power of attorney by the Principal, the death of the Principal or the commencement of divorce proceedings between you and the Principal. If there is anything about this power of attorney or your duties under it that you do not understand you should ask a lawyer to explain it to you."
§ 5-906. Validity of power of attorney
§ 5-907. Meaning and effect of power of attorney
The meaning and effect of a power of attorney is determined by the law of the jurisdiction indicated in the power of attorney and, in the absence of an indication of jurisdiction, by the law of the jurisdiction in which the power of attorney was executed.
§ 5-908. Nomination of conservator or guardian; relation of agent to court-appointed fiduciary
§ 5-909. When power of attorney effective
§ 5-910. Termination of power of attorney or agent's authority
§ 5-911. Coagents and successor agents
§ 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 (b) should be considered as guides in determining the reasonableness of compensation under this section.
§ 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.
§ 5-914. Agent's duties
(i) The value and nature of the principal's property;
(ii) The principal's foreseeable obligations and need for maintenance;
(iii) Minimization of taxes, including income, estate, inheritance, generation-skipping transfer and gift taxes; and
(iv) Eligibility for a benefit, a program or assistance under a statute, rule or regulation.
§ 5-915. Exoneration of agent
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:
§ 5-916. Judicial relief
§ 5-917. Agent's liability
An agent that violates this chapter is liable to the principal or the principal's successors in interest for the amount required to:
§ 5-918. Agent's resignation; notice
Unless the power of attorney provides a different method for an agent's resignation, an agent may resign by giving notice to the principal and, if the principal is incapacitated:
§ 5-919. Acceptance of and reliance upon acknowledged power of attorney
§ 5-920. Liability for refusal to accept acknowledged power of attorney
§ 5-921. Principles of law and equity
Unless displaced by a provision of this Part, the principles of law and equity supplement this Part.
§ 5-922. Laws applicable to financial institutions and entities
This Part does not supersede any other law applicable to financial institutions or other entities, and the other law controls if inconsistent with this Part.
§ 5-923. Remedies under other law
The remedies under this Part are not exclusive and do not abrogate any right or remedy under the law of this State other than this Part.
§ 5-931. Authority that requires specific grant; grant of general authority
§ 5-932. Incorporation of authority
§ 5-933. Construction of authority generally
Except as otherwise provided in the power of attorney, by executing a power of attorney that incorporates by reference a subject described in sections 5-934 through 5-947 or that grants to an agent authority to do all acts that a principal could do pursuant to section 5-931, subsection (c), a principal authorizes the agent, with respect to that subject, to:
§ 5-934. Real property
Unless the power of attorney otherwise provides, language in a power of attorney granting general authority with respect to real property authorizes the agent to:
§ 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:
§ 5-936. Stocks and bonds
Unless the power of attorney otherwise provides, language in a power of attorney granting general authority with respect to stocks and bonds authorizes the agent to:
§ 5-937. Commodities and options
Unless the power of attorney otherwise provides, language in a power of attorney granting general authority with respect to commodities and options authorizes the agent to:
§ 5-938. Banks and other financial institutions
Unless the power of attorney otherwise provides, language in a power of attorney granting general authority with respect to banks and other financial institutions authorizes the agent to:
§ 5-939. Operation of entity or business
Subject to the terms of a document or an agreement governing an entity or an entity ownership interest, and unless the power of attorney otherwise provides, language in a power of attorney granting general authority with respect to operation of an entity or business authorizes the agent to:
(i) The location of its operation;
(ii) The nature and extent of its business;
(iii) The methods of manufacturing, selling, merchandising, financing, accounting and advertising employed in its operation;
(iv) The amount and types of insurance carried; and
(v) The mode of engaging, compensating and dealing with its employees and accountants, attorneys or other advisors;
§ 5-940. Insurance and annuities
Unless the power of attorney otherwise provides, language in a power of attorney granting general authority with respect to insurance and annuities authorizes the agent to:
§ 5-941. Estates, trusts and other beneficial interests
§ 5-942. Claims and litigation
Unless the power of attorney otherwise provides, language in a power of attorney granting general authority with respect to claims and litigation authorizes the agent to:
§ 5-943. Personal and family maintenance
(i) Individuals legally entitled to be supported by the principal; and
(ii) Individuals whom the principal has customarily supported or indicated the intent to support;
(i) Purchase, lease or other contract; or
(ii) Paying the operating costs, including interest, amortization payments, repairs, improvements and taxes, for premises owned by the principal or occupied by those individuals;
§ 5-944. Benefits from governmental programs or civil or military service
§ 5-945. Retirement plans
§ 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:
§ 5-947. Gifts
§ 5-951. Agent's certification
The following optional form may be used by an agent to certify facts concerning a power of attorney.
State of .......................................................
I, .......................................................................(Name of Agent), certify under penalty of perjury that ....................................................................(Name of Principal) granted me authority as an agent or successor agent in a power of attorney dated .................................... .
I further certify that to my knowledge:
(1) The Principal is alive and has not revoked the Power of Attorney or my authority to act under the Power of Attorney and the Power of Attorney and my authority to act under the Power of Attorney have not terminated;
(2) If the Power of Attorney was drafted to become effective upon the happening of an event or contingency, the event or contingency has occurred;
(3) If I was named as a successor agent, the prior agent is no longer able or willing to serve; and
§ 5-961. Uniformity of application and construction
In applying and construing this uniform act, 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.
§ 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 the notices described in 15 United States Code, Section 7003(b).
§ 5-963. Effect on existing powers of attorney
Except as otherwise provided in this Part, on July 1, 2010:
An act done before July 1, 2010 is not affected by this Part.
§ 5-964. Effective date
This Part takes effect July 1, 2010.
Sec. 3. 22 MRSA §1711-C, sub-§1, ¶A, as amended by PL 1999, c. 512, Pt. A, §5 and affected by §7, is further amended to read:
Sec. 4. 22 MRSA §8621, sub-§6, as enacted by PL 1993, c. 692, §1, is amended to read:
Sec. 5. Legislative intent. This Act is the Maine enactment of the Uniform Power of Attorney Act as approved by the National Conference of Commissioners on Uniform State Laws in 2006. The text of the uniform act has been changed to conform to Maine statutory conventions. Unless otherwise noted in a Maine comment, the changes are technical in nature and it is the intent of the Legislature that this Act be interpreted as substantively the same as the Uniform Power of Attorney Act.
Sec. 6. Effective date. This Act takes effect July 1, 2010.