§ 3504 - Scope of authority - Vermont Statutes

§ 3504. Scope of authority

(a) The agent shall have the authority to act on the principal's behalf as to all lawful subjects and purposes, but only to the extent such authority is given under the terms of the power of attorney, subject to section 3506 of this title and subsections (b) through (g) of this section.

(b) No power of attorney created under this subchapter may give an agent the authority to:

(1) make health care decisions, as that term is defined in chapter 121 of this title;

(2) execute, modify or revoke a durable power of attorney for health care for the principal;

(3) execute, amend or revoke a will for the principal;

(4) execute, modify or revoke a living will for the principal;

(5) require the principal, against his or her will, to take any action or to refrain from taking any action;

(6) exercise, by delegation, the fiduciary responsibility of the principal as executor of a will or administrator of an estate;

(7) exercise, by delegation, the fiduciary responsibility of a trustee, unless the instrument creating or amending the trust specifically authorizes the delegation; or

(8) take any action specifically forbidden by the principal, notwithstanding any provision of the power of attorney giving the agent the authority to take such action.

(c) No agent may convey lands belonging to the principal or an estate or interest therein unless the terms of the power of attorney explicitly provide the agent has such authority and the power of attorney meets the specific execution requirements of section 3503 of this title.

(d) No agent may compensate him or herself for duties performed under a power of attorney with funds or property belonging to the principal unless the terms of the power of attorney explicitly provide for compensation. Reasonable reimbursement for actual out-of-pocket expenditures by the agent for the benefit of the principal shall not be considered compensation.

(e) No agent may make a gift or a loan to a third party unless the terms of the power of attorney explicitly provide for the authority to make gifts or loans.

(f) No agent may make a gift or a loan to him or herself of property belonging to the principal unless the terms of the power of attorney explicitly provide for the authority to make gifts or loans to the agent.

(g) No agent may appoint another person as alternate or successor agent unless the terms of the power of attorney explicitly provide for the authority to appoint an alternate or successor agent.

(h) A power of attorney may specify that accountings shall be made by the agent at specific times or upon the occurrence of specified events or that accountings be made to specified third parties. The authority of the principal to request accountings at any time shall not be limited or waived. (Added 2001, No. 135 (Adj. Sess.), § 2, eff. June 13, 2002.)