26-86 - Exoneration of agent. - Virginia Statutes

§ 26-86. Exoneration of agent.

A provision in a power of attorney relieving an agent of liability for breachof duty is binding on the principal and the principal's successors ininterest except to the extent the provision:

1. Relieves the agent of liability for breach of duty committed dishonestly,with an improper motive, or with reckless indifference to the purposes of thepower of attorney or the best interest of the principal; or

2. Was inserted as a result of an abuse of a confidential or fiduciaryrelationship with the principal.

(2010, cc. 455, 632.)