Unincorporated Business Entities Law » guardianship http://uberlaw.net Agency, Partnerships, LLCs and Closely-Held Corporations Sat, 24 Dec 2011 23:32:49 +0000 en hourly 1 http://wordpress.org/?v=3.3.2 Guardianships and Durable Powers of Attorney. Russell v. Chase Investment Services Corp. (OK 2009) http://uberlaw.net/2009/09/guardianships-and-durable-powers-of-attorney-russell-v-chase-investment-services-corp-ok-2009/ http://uberlaw.net/2009/09/guardianships-and-durable-powers-of-attorney-russell-v-chase-investment-services-corp-ok-2009/#comments Tue, 22 Sep 2009 16:39:32 +0000 grosin http://uberlaw.net/?p=265 In Russell v. Chase Investment Services Corp., 212 P.3d 1178, 2009 OK 22 (2009)(on certified question), the Oklahoma Supreme Court, held that, under Oklahoma law, the appointment of a guardian for the estate of a person does not terminate an earlier Durable Power of Attorney.

Section 1074.A of the Oklahoma version of the Uniform Durable Power of Attorney Act provided:

If, following execution of a durable power of attorney, a court of the principal’s domicile appoints a conservator, guardian of the estate, … the attorney-in-fact is accountable to the fiduciary as well as to the principal. The fiduciary has the same power to revoke or amend the power of attorney that the principal would have had if he were not disabled or incapacitated.

29 OK 22 at ¶12 (emphasis in original).  The last sentence of Oklahoma Section 1074(b) differs from the bracketed last sentence of Section 108(b) the Uniform Act.

[The power of attorney is not terminated and the agent’s authority continues unless limited, suspended, or terminated by the court.]

Unif. Durable Power of Att’y Act § 108(b) (emphasis added).

Gary Rosin

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