556.213 Agent's acceptance; acknowledgment of duties.
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556.213 Agent's acceptance; acknowledgment of duties.
Sec. 113.
(1)Except as otherwise provided in the power of attorney, a person accepts appointment as an agent under a power of attorney by exercising authority as an agent or by any other assertion or conduct indicating acceptance.
(2)Before exercising authority under a durable power of attorney, an agent shall execute an acknowledgment of the agent's duties that contains all the substantive statements contained in the optional template "Agent's Acknowledgment" provided in section 302 in substantially the form of that optional template.
(3)An agent's failure to comply with subsection
(2)does not affect the agent's authority to act for the principal as provided in the durable power of attorney or this act, does not alter the agent's duties under the power and this act, and does not mitigate the agent's potential liability for breach of those duties.
History: 2023, Act 187 , Eff. July 1, 2024