58-655. Indication of capacity as attorney in fact; property and accounts separate. - Kansas Statutes

58-655

Chapter 58.--PERSONAL AND REAL PROPERTY Article 6.--POWERS AND LETTERS OF ATTORNEY

      58-655.   Indication of capacity as attorney in fact;property and accounts separate.(a)   An attorney in fact acting for the principal under a power of attorneyshall clearly indicate the attorney in fact's capacity and shall keep theprincipal's property and accounts separate and distinct from all other propertyand accounts in a manner to identify the property and accounts clearly asbelonging to the principal.

      (b)   An attorney in fact holding property for a principal complies withsubsection (a) if the property is held in the name of the principal, in thename of the attorney in fact as attorney in fact for the principal or if theattorney in fact is a state or national bank or trust company, in a nomineename as provided under K.S.A. 9-1607, and amendments thereto.

      History:   L. 2003, ch. 58, § 6;L. 2004, ch. 50, § 2; July 1.