Persons refusing to accept authority of attorney in fact
Sec. 9. (a) Except as provided in subsection (b), a person who, not
more than three (3) business days after receiving a power of attorney,
refuses to accept the authority of an attorney in fact to exercise a
power granted under a power of attorney is liable to the principal and
to the principal's heirs, assigns, and the personal representative of the
estate of the principal in the same manner as the person would be
liable had the person refused to accept the authority of the principal
to act on the principal's own behalf. In any action brought in court to
either force the acceptance of the authority of the attorney in fact or
pursue damages as a result of the person's refusal to accept the
authority of an attorney in fact, the person found liable for refusing
to accept the authority of an attorney in fact shall pay the following:
(1) Three (3) times the amount of the actual damages.
(2) The attorney's fees of the person bringing the action to
court.
(3) Prejudgment interest on the actual damages from the date
the person refused to accept the authority of the attorney in fact.
(b) A person refusing to accept the authority of an attorney in fact
to exercise a power granted under a power of attorney is not liable
under subsection (a) if:
(1) the person has actual notice of the revocation of the power
of attorney before the exercise of the power;
(2) the duration of the power of attorney specified in the power
of attorney has expired;
(3) the person has actual knowledge of the death of the
principal;
(4) the person reasonably believes that the power of attorney is
not valid under Indiana law and provides the attorney in fact
with a written statement not more than ten (10) business days
after the refusal, describing the reason that the power of
attorney is not valid under Indiana law; or
(5) the person reasonably believes that the power of attorney
does not grant the attorney in fact with authority to perform the
transaction requested and provides the attorney in fact with a
written statement not more than ten (10) business days after the
refusal, describing the reason the person believes the power of
attorney is deficient under Indiana law.
(c) This section does not negate the liability a person would have
to the principal or the attorney in fact under another form of power
of attorney, under the common law, or otherwise.
As added by P.L.149-1991, SEC.2. Amended by P.L.252-2001,
SEC.36; P.L.165-2002, SEC.10.
Last modified: May 27, 2006