404.735. Repeal of sections 486.550 to 486.595 does not affect validity of existing durable powers of attorney. - Missouri Statutes

Repeal of sections 486.550 to 486.595 does not affect validity ofexisting durable powers of attorney.

404.735. 1. The repeal of the Missouri durable power ofattorney law, sections 486.550 to 486.595, RSMo, shall not affectthe validity of durable powers of attorney created under thatlaw, the validity of the acts and transactions of attorneys infact under authority granted in durable powers of attorneyexecuted under that law, or the duties of attorneys in fact underdurable powers of attorney executed under that law.

2. The provisions of sections 404.700 and 404.703,subsections 2, 3 and 4 of section 404.705, and sections 404.707to 404.735 henceforth apply to durable powers of attorneyexecuted before August 28, 1989, insofar as the application ofsections 404.700 to 404.735 does not impair constitutionallyvested rights.

3. A power of attorney that complies with the provisions ofsubsection 1 of section 404.705 and that was executed beforeAugust 28, 1989, is durable and valid after August 28, 1989.

4. A durable power of attorney executed under prior law neednot be recorded as provided in that law to be effective anddurable except as to conveyances of real estate; and theappointment of a legal representative for the principal or theprincipal's estate shall not require an accounting by an attorneyin fact acting under a power of attorney executed under priorlaw, unless ordered by a court pursuant to a petition to thecourt under section 404.727.

5. Compliance with the provisions of subsection 1 of section404.705 is not required for durability of a power of attorneyexecuted prior to January 1, 1990, if the form of the power ofattorney was sufficient for durability under subdivision (2) ofsection 486.555, RSMo 1986.

(L. 1989 H.B. 145 § 16)