Maine Revised Statutes

§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: [2009, c. 292, §2 (NEW); 2009, c. 292, §6 (AFF).]

(a).    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
[ 2009, c. 292, §2 (NEW); 2009, c. 292, §6 (AFF) .]
(b).    Was inserted as a result of an abuse of a confidential or fiduciary relationship with the principal.
[ 2009, c. 292, §2 (NEW); 2009, c. 292, §6 (AFF) .]
SECTION HISTORY
2009, c. 292, §2 (NEW). 2009, c. 292, §6 (AFF).