(a) A principal may designate two or more persons to act as coagents. A principal may expressly require in the power of attorney that coagents act jointly. If a principal does not expressly require that coagents act jointly, each coagent
may exercise the coagents' authority independently without the knowledge, consent,
or joinder of any other coagent or coagents. Unless the power of attorney otherwise provides and if any one or more coagents
resigns, dies, becomes incapacitated, or otherwise fails to act, the remaining agent
or coagents may continue to act.
(b) A principal may designate one or more successor agents to act if an agent resigns,
dies, becomes incapacitated, is not qualified to serve, or declines to serve. A principal may grant authority to designate one or more successor agents to an
agent or other person designated by name, office, or function. Unless the power of attorney otherwise provides, a successor agent shall have the
following powers and limitations:
(1) The successor agent has the same authority as that granted to the original agent.
(2) The successor agent may not act until all predecessor agents have resigned, died,
become incapacitated, are no longer qualified to serve, or have declined to serve.
(c) Except as otherwise provided in the power of attorney, an agent that does not
participate in or conceal a breach of fiduciary duty committed by another agent, including
a predecessor agent, is not liable for the actions of the other agent.
(d) An agent that has actual knowledge of a breach or imminent breach of fiduciary
duty by another agent shall notify the principal and, if the principal is incapacitated,
take any action reasonably appropriate in the circumstances to safeguard the principal's
best interest. An agent that fails to notify the principal or take action as required by this subsection
is liable for the reasonably foreseeable damages that could have been avoided if the
agent had notified the principal or taken such action.
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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