§ 28-68-312 - Termination of power. - Arkansas Statutes

28-68-312. Termination of power.

(a) A power of attorney terminates on:

(1) Written revocation by the principal;

(2) Death of the principal;

(3) Order of a court appointing a guardian of the person or property, or both, of the principal, unless the order provides otherwise;

(4) Expiration or termination as specified in the power of attorney; or

(5) A determination by a judge of the approving court that the value of the property or the amount of the annual money income covered by the instrument has so increased that this subchapter is no longer appropriately applicable.

(b) The original resignation of an attorney in fact, a written revocation of the power of attorney by a principal, or a certified copy of the death certificate of the principal or of the attorney in fact, or a certified copy of any court judgment or order terminating the power of attorney or removing the attorney in fact for cause shall be filed promptly in the office of the clerk of the court whose judge approved the power, and certified copies shall be recorded promptly in all offices in which a certified copy of the original power of attorney is recorded. A notation of the terminating event shall be made by the clerk on the face of the original power of attorney.

(c) (1) The attorney in fact is liable to the principal and the principal's estate for all damage and loss the principal suffers because of the attorney's acts done after the attorney receives notice of the termination of his or her authority or after termination by provision of the power itself.

(2) After the power is terminated, other than by death of the principal, he or she may perform ministerial acts reasonably necessary to complete and conclude his or her duties.