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Current as of January 01, 2024 | Updated by FindLaw Staff
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 does any of the following:
1. Relieves the agent of liability for a breach of duty committed in bad faith, with an improper motive, or with reckless indifference to the purposes of the power of attorney or the best interest of the principal.
2. Was included in the power of attorney as a result of an abuse of a confidential or fiduciary relationship with the principal.
Cite this article: FindLaw.com - Iowa Code Title XV. Judicial Branch and Judicial Procedures [Chs. 595-686] § 633B.115. Exoneration of agent - last updated January 01, 2024 | https://codes.findlaw.com/ia/title-xv-judicial-branch-and-judicial-procedures-chs-595-686/ia-code-sect-633b-115/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
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