dcrodriguez/Code-of-Virginia huggingface dataset:
Code of Virginia — Title 64.2 (Wills, Trusts, and Fiduciaries), Chapter 14 (Fiduciaries Generally)
§ 64.2-1428. Transfer of proceeds of sale of real estate of nonresident beneficiary to foreign fiduciary.
When the proceeds of sale of the real estate of an infant, incapacitated person, or cestui que trust are invested, or required to be invested under the direction of the circuit court, and the infant, incapacitated person, or cestui que trust does not reside in the Commonwealth, on the petition of a guardian, committee, conservator, or trustee lawfully appointed or qualified in the state or country of residence of the infant, incapacitated person, or cestui que trust, the court under whose direction such proceeds are so invested, or required to be invested, may, with the consent of the persons residing in the Commonwealth who would be the heirs of the infant, incapacitated person, or cestui que trust, if he were dead, order such proceeds to be paid and delivered to the foreign guardian, committee, conservator, or trustee, or his agent or attorney, and removed by him to the state or country in which he was appointed and qualified. The court may refuse to permit the payment and delivery if the court determines that the removal of the trust subject will defeat or conflict with the provisions of the deed, will, or other instrument creating the trust.

Code 1919, § 5351; Code 1950, § 26-61; 1997, c. 801; 2012, c. 614.

Code of Virginia — Title 64.2 (Wills, Trusts, and Fiduciaries), Chapter 14 (Fiduciaries Generally)
§ 64.2-1429. Notice and bond required prior to transfer.
No order shall be made pursuant to §§ 64.2-1427 and 64.2-1428 until (i) notice of the petition has been published once a week for four successive weeks in a newspaper published in the county or city in which the petition is filed, or if there is none, then in a newspaper published in an adjoining county; (ii) it is shown by authentic documentary evidence that the foreign guardian, conservator, or committee has, in the state or country where he qualified, given bond with surety sufficient to insure his accountability for the whole amount of the estate in his possession or that may be received by him; and (iii) the circuit court determines that the removal of such money or property from the Commonwealth will not impair the rights or be prejudicial to the interests either of the infant or incapacitated person or of any other person.

Code 1919, § 5352; 1930, p. 736; Code 1950, § 26-62; 1997, c. 801; 2012, c. 614.
Code of Virginia — Title 64.2 (Wills, Trusts, and Fiduciaries), Chapter 14 (Fiduciaries Generally)
§ 64.2-1430. When bond may be dispensed with.
In any case in which the circuit court finds that the laws of the state or country in which the infant or incapacitated person resides and the foreign guardian, conservator, or committee was appointed and qualified do not provide for the giving of a bond by the guardian, conservator, or committee, the court, in its discretion, may permit the money and other estate of the infant or incapacitated person to be paid and delivered to the foreign fiduciary although he has not given the bond required by § 64.2-1429.

Code 1919, § 5352; 1930, p. 736; Code 1950, § 26-63; 1997, c. 801; 2012, c. 614.

Code of Virginia — Title 64.2 (Wills, Trusts, and Fiduciaries), Chapter 14 (Fiduciaries Generally)
§ 64.2-1431. Sale of property and payment of proceeds to nonresident trustee.
If, in any proceeding under § 64.2-1427 or in case of an interest in property acquired by a will that does not restrict the transfer of property out of the Commonwealth upon petition under § 64.2-1427, the circuit court may order the property, or any part of it, to be sold, and the proceeds to be paid to the foreign guardian, conservator, committee, or nonresident trustee.

Code 1919, § 5355; Code 1950, § 26-66; 1968, c. 399; 1997, c. 801; 2005, c. 935; 2012, c. 614.

Code of Virginia — Title 64.2 (Wills, Trusts, and Fiduciaries), Chapter 14 (Fiduciaries Generally)
§ 64.2-1432. Discharge from liability of resident guardian, committee, conservator, or trustee.
When any guardian, committee, conservator, trustee, or other person in the Commonwealth shall pay over, transfer, or deliver any estate in his possession or vested in him, under any order or decree made in pursuance of this chapter, he shall be discharged from all responsibility therefor.

Code 1919, § 5356; Code 1950, § 26-67; 1997, c. 801; 2012, c. 614.
Code of Virginia — Title 64.2 (Wills, Trusts, and Fiduciaries), Chapter 15 (INVESTMENTS)
§ 64.2-1500. Court orders regarding money in possession of fiduciary.
If a report made pursuant to § 64.2-1210 or a special report of the commissioner of accounts shows that money is in the possession of a fiduciary, the circuit court in which the report is filed may order that the money be invested or loaned out, or make such other order respecting the money as the court deems proper.

Code 1919, § 5430; Code 1950, § 26-38; 2012, c. 614.

Code of Virginia — Title 64.2 (Wills, Trusts, and Fiduciaries), Chapter 15 (INVESTMENTS)
§ 64.2-1501. Time within which guardian of an estate, conservator, or other fiduciary to invest funds; reasonable diligence required.
A. Whenever a guardian of an estate, conservator, or other fiduciary charged with the investment of funds collects any principal, he shall have a reasonable time, not to exceed four months, to invest or loan the funds and shall not be charged with interest thereon until the expiration of such time. A guardian of an estate, conservator, or any other fiduciary shall only be required to invest in accordance with the provisions of §§ 64.2-1502 through 64.2-1506 and the Uniform Prudent Investor Act (§ 64.2-780 et seq.) and, if he invests in accordance with these provisions, he shall be accountable only for such interest and profits as are earned. If any funds are otherwise invested without the previous consent of the court having jurisdiction of such trust funds, the burden shall be on the guardian of an estate, conservator, or other fiduciary before his settlement is approved by the commissioner of accounts to show to the satisfaction of the commissioner of accounts that, after exercising reasonable diligence, he was unable to invest the funds in accordance with these provisions and that the investment made was reasonable and proper under all of the circumstances and fair to the beneficiary of the funds.

B. This section shall not be construed as altering the provisions of any will, deed, or other instrument that give the fiduciary discretion as to the rate of interest, character of security, nature or investment under the trust, or time within which the trust funds are to be loaned or invested.

Code 1919, § 5325; 1938, p. 203; 1946, p. 223; Code 1950, § 26-39; 1997, c. 842; 1999, c. 772; 2012, c. 614.
Code of Virginia — Title 64.2 (Wills, Trusts, and Fiduciaries), Chapter 15 (INVESTMENTS)
§ 64.2-1503. Investment in bonds or other obligations issued, guaranteed, or assured by Inter-American Development Bank.
Executors, administrators, trustees, and other fiduciaries, both individual and corporate, may invest the funds held by them in a fiduciary capacity in bonds and other obligations issued, guaranteed, or assured by the Inter-American Development Bank, which are and shall be considered lawful investments.

1968, c. 65, § 26-40.1; 2012, c. 614.

Code of Virginia — Title 64.2 (Wills, Trusts, and Fiduciaries), Chapter 15 (INVESTMENTS)
§ 64.2-1504. Investments in municipal bonds by banks or trust companies.
Subject to the Uniform Prudent Investor Act (§ 64.2-780 et seq.) and the common law duties of a fiduciary, unless the governing instrument or a court order specifically directs otherwise, a bank or trust company serving as personal representative, trustee, guardian, agent, or in any other fiduciary capacity, may purchase during the existence of any underwriting or selling syndicate any state or municipal security otherwise authorized by this title in spite of the fact that the fiduciary, or an affiliate thereof under common ownership, participates or has participated as a member of a syndicate underwriting such security if the fiduciary purchases the security from another syndicate member or from an affiliate thereof and not from itself or any of its affiliates.

1988, c. 347, § 26-40.2; 1999, c. 772; 2012, c. 614.

Code of Virginia — Title 64.2 (Wills, Trusts, and Fiduciaries), Chapter 15 (INVESTMENTS)
§ 64.2-1505. Investments that cease to be eligible may be retained.
Investments made under the provisions of § 64.2-1502, if in conformity with the requirements of that section at the time the investments were made, may be retained even though they cease to be eligible for purchase under the provisions of that section, but shall be subject to the provisions of the Uniform Prudent Investor Act (§ 64.2-780 et seq.).

Code 1919, § 5431; 1942, p. 662; Code 1950, § 26-44; 1992, c. 810; 1999, c. 772; 2012, c. 614.
Code of Virginia — Title 64.2 (Wills, Trusts, and Fiduciaries), Chapter 15 (INVESTMENTS)
§ 64.2-1506. Investment in mutual fund affiliated with fiduciary.
Unless prohibited or otherwise limited by the instrument under which a fiduciary is acting, including a fiduciary of an agency account, the fiduciary may invest in a mutual company, investment trust, or investment company sponsored, advised, or sold by the fiduciary or an affiliate if the investment is otherwise appropriate as an investment. In such case, the fiduciary shall not take a commission as fiduciary to the extent that the fiduciary, or its affiliate or division, receive compensation for services relating to advice or services to such mutual fund, investment trust, or investment company, unless (i) otherwise expressly agreed in writing by the creator of the trust or affected beneficiary or (ii) the fiduciary discloses by statement, prospectus, or otherwise to all current income beneficiaries of an account the rate, formula, or other method by which the compensation received or to be received by the fiduciary or affiliate or division of the fiduciary for such advice and services is determined. In such case, the compensation for such advice and services shall not exceed the customary or prevailing amount that is charged by a fiduciary, or its affiliate or division, for providing comparable advice and services for the benefit of nonfiduciary accounts.

1990, c. 66, § 26-44.1; 1992, c. 684; 2012, c. 614.
Code of Virginia — Title 64.2 (Wills, Trusts, and Fiduciaries), Chapter 16 (Uniform Power of Attorney Act)
§ 64.2-1601. Applicability.
This chapter applies to all powers of attorney except:

1. A power to the extent it is coupled with an interest in the subject of the power, including a power given to or for the benefit of a creditor in connection with a credit transaction;

2. A power to make health care decisions;

3. A proxy or other delegation to exercise voting rights or management rights with respect to an entity;

4. A power created on a form prescribed by a government or governmental subdivision, agency, or instrumentality for a governmental purpose; and

5. A power to make arrangements for burial or disposition of remains pursuant to § 54.1-2825.

2010, cc. 455, 632, § 26-74; 2012, c. 614.

Code of Virginia — Title 64.2 (Wills, Trusts, and Fiduciaries), Chapter 16 (Uniform Power of Attorney Act)
§ 64.2-1602. Power of attorney is durable.
A power of attorney created under this chapter is durable unless it expressly provides that it is terminated by the incapacity of the principal.

2010, cc. 455, 632, § 26-75; 2012, c. 614.

Code of Virginia — Title 64.2 (Wills, Trusts, and Fiduciaries), Chapter 16 (Uniform Power of Attorney Act)
§ 64.2-1603. Execution of power of attorney.
A power of attorney shall be signed by the principal or in the principal's conscious presence by another individual directed by the principal to sign the principal's name on the power of attorney. A signature on a power of attorney is presumed to be genuine if the principal acknowledges the signature before a notary public or other individual authorized by law to take acknowledgments. A power of attorney in order to be recordable shall satisfy the requirements of § 55.1-600.

2010, cc. 455, 632, § 26-76; 2012, c. 614.
Code of Virginia — Title 64.2 (Wills, Trusts, and Fiduciaries), Chapter 16 (Uniform Power of Attorney Act)
§ 64.2-1604. Validity of power of attorney.
A. A power of attorney executed in the Commonwealth on or after July 1, 2010, is valid if its execution complies with § 64.2-1603.

B. A power of attorney executed in the Commonwealth before July 1, 2010, is valid if its execution complied with the law of the Commonwealth as it existed at the time of execution.

C. A power of attorney executed other than in the Commonwealth is valid in the Commonwealth if, when the power of attorney was executed, the execution complied with (i) the law of the jurisdiction that determines the meaning and effect of the power of attorney pursuant to § 64.2-1605; (ii) the requirements for a military power of attorney pursuant to 10 U.S.C. § 1044b, as amended; or (iii) the laws of the Commonwealth.

D. Except as otherwise provided by statute other than this chapter, a photocopy or electronically transmitted copy of an original power of attorney has the same effect as the original.

E. An agent in possession of a general, special, or limited power of attorney or other writing vesting any power or authority in him shall, where the instrument is otherwise valid, be deemed to possess the powers and authority granted by such instrument notwithstanding any failure of the principal to deliver the instrument to him, and persons dealing with such agent shall have no obligation to inquire into the manner or circumstances by which such possession was acquired, provided, however, that nothing herein shall preclude the court from considering such manner or circumstances as relevant factors in any proceeding brought to terminate, suspend, or limit the authority of the agent.

2010, cc. 455, 632, § 26-77; 2012, c. 614.

Code of Virginia — Title 64.2 (Wills, Trusts, and Fiduciaries), Chapter 16 (Uniform Power of Attorney Act)
§ 64.2-1605. Meaning and effect of power of attorney.
The meaning and effect of a power of attorney is determined by the law of the jurisdiction indicated in the power of attorney and, in the absence of an indication of jurisdiction, by the law of the jurisdiction in which the power of attorney was executed.

2010, cc. 455, 632, § 26-78; 2012, c. 614.
Code of Virginia — Title 64.2 (Wills, Trusts, and Fiduciaries), Chapter 16 (Uniform Power of Attorney Act)
§ 64.2-1606. Nomination of conservator or guardian; relation of agent to court-appointed fiduciary.
A. In a power of attorney, a principal may nominate a conservator or guardian of the principal's estate or guardian of the principal's person for consideration by the court if protective proceedings for the principal's estate or person are begun after the principal executes the power of attorney.

B. If, after a principal executes a power of attorney, a court appoints a conservator or guardian of the principal's estate or other fiduciary charged with the management of some or all of the principal's property, the agent is accountable to the fiduciary as well as to the principal. The power of attorney is not terminated and the agent's authority continues unless limited, suspended, or terminated by the court.

2010, cc. 455, 632, § 26-79; 2012, c. 614.

Code of Virginia — Title 64.2 (Wills, Trusts, and Fiduciaries), Chapter 16 (Uniform Power of Attorney Act)
§ 64.2-1607. When power of attorney effective.
A. A power of attorney is effective when executed unless the principal provides in the power of attorney that it becomes effective at a future date or upon the occurrence of a future event or contingency.

B. If a power of attorney becomes effective upon the occurrence of a future event or contingency, the principal, in the power of attorney, may authorize one or more persons to determine in a writing or other record that the event or contingency has occurred.

C. If a power of attorney becomes effective upon the principal's incapacity and the principal has not authorized a person to determine whether the principal is incapacitated, or the person authorized is unable or unwilling to make the determination, the power of attorney becomes effective upon a determination in a writing or other record by (i) the principal's attending physician and a second physician or licensed clinical psychologist after personal examination of the principal that the principal is incapacitated within the meaning of subdivision 1 of the definition of incapacity in § 64.2-1600 or (ii) an attorney-at-law, a judge, or an appropriate governmental official that the principal is incapacitated within the meaning of subdivision 1 of the definition of incapacity in § 64.2-1600.

D. A person authorized by the principal in the power of attorney to determine that the principal is incapacitated may act as the principal's personal representative pursuant to the Health Insurance Portability and Accountability Act, §§ 1171 through 1179 of the Social Security Act, 42 U.S.C. § 1320d, as amended, and applicable regulations, to obtain access to the principal's health care information and communicate with the principal's health care provider.

2010, cc. 455, 632, § 26-80; 2012, c. 614.
Code of Virginia — Title 64.2 (Wills, Trusts, and Fiduciaries), Chapter 16 (Uniform Power of Attorney Act)
§ 64.2-1608. Termination of power of attorney or agent's authority.
A. A power of attorney terminates when:

1. The principal dies;

2. The principal becomes a vulnerable adult, if the power of attorney is not durable;

3. The principal revokes the power of attorney;

4. The power of attorney provides that it terminates;

5. The purpose of the power of attorney is accomplished; or

6. The principal revokes the agent's authority or the agent dies, becomes a vulnerable adult, or resigns, and the power of attorney does not provide for another agent to act under the power of attorney.

B. An agent's authority terminates when:

1. The principal revokes the authority;

2. The agent dies, becomes a vulnerable adult, or resigns;

3. Unless the power of attorney otherwise provides, an action is filed (i) for the divorce or annulment of the agent's marriage to the principal or their legal separation, (ii) by either the agent or principal for separate maintenance from the other, or (iii) by either the agent or principal for custody or visitation of a child in common with the other;

4. The agent is convicted of financial exploitation of the principal under § 18.2-178.2; or

5. The power of attorney terminates.

C. Unless the power of attorney otherwise provides, an agent's authority is exercisable until the authority terminates under subsection B, notwithstanding a lapse of time since the execution of the power of attorney.

D. Termination of an agent's authority or of a power of attorney is not effective as to the agent or another person that, without actual knowledge of the termination, acts in good faith under the power of attorney. An act so performed, unless otherwise invalid or unenforceable, binds the principal and the principal's successors in interest.

E. Incapacity of the principal of a power of attorney that is not durable does not revoke or terminate the power of attorney as to an agent or other person that, without actual knowledge of the incapacity, acts in good faith under the power of attorney. An act so performed, unless otherwise invalid or unenforceable, binds the principal and the principal's successors in interest.

F. The execution of a power of attorney does not revoke a power of attorney previously executed by the principal unless the subsequent power of attorney provides that the previous power of attorney is revoked or that all other powers of attorney are revoked.

2010, cc. 455, 632, § 26-81; 2012, cc. 57, 614; 2022, cc. 397, 654.
Code of Virginia — Title 64.2 (Wills, Trusts, and Fiduciaries), Chapter 16 (Uniform Power of Attorney Act)
§ 64.2-1609. Coagents and successor agents.
A. A principal may designate two or more persons to act as coagents. Unless the power of attorney otherwise provides, each coagent may exercise its authority independently.

B. A principal may designate one or more successor agents to act if an agent resigns, dies, becomes incapacitated, is not qualified to serve, or declines to serve. A principal may grant authority to designate one or more successor agents to an agent or other person designated by name, office, or function. Unless the power of attorney otherwise provides, a successor agent (i) has the same authority as that granted to the original agent; and (ii) may not act until all predecessor agents have resigned, died, become incapacitated, are no longer qualified to serve, or have declined to serve.

C. Except as otherwise provided in the power of attorney and subsection D, an agent that does not participate in or conceal a breach of fiduciary duty committed by another agent, including a predecessor agent, is not liable for the actions of the other agent.

D. An agent that has actual knowledge of a breach or imminent breach of fiduciary duty by another agent shall notify the principal and, if the principal is incapacitated, take any action reasonably appropriate in the circumstances to safeguard the principal's best interest. An agent that fails to notify the principal or take action as required by this subsection is liable for the reasonably foreseeable damages that could have been avoided if the agent had notified the principal or taken such action.

2010, cc. 455, 632, § 26-82; 2012, c. 614.

Code of Virginia — Title 64.2 (Wills, Trusts, and Fiduciaries), Chapter 16 (Uniform Power of Attorney Act)
§ 64.2-1610. Reimbursement and compensation of agent.
Unless the power of attorney otherwise provides, an agent is entitled to reimbursement of expenses reasonably incurred on behalf of the principal and to compensation that is reasonable under the circumstances.

2010, cc. 455, 632, § 26-83; 2012, c. 614.

Code of Virginia — Title 64.2 (Wills, Trusts, and Fiduciaries), Chapter 16 (Uniform Power of Attorney Act)
§ 64.2-1611. Agent's acceptance.
Except as otherwise provided in the power of attorney, a person accepts appointment as an agent under a power of attorney by exercising authority or performing duties as an agent or by any other assertion or conduct indicating acceptance.

2010, cc. 455, 632, § 26-84; 2012, c. 614.
Code of Virginia — Title 64.2 (Wills, Trusts, and Fiduciaries), Chapter 16 (Uniform Power of Attorney Act)
§ 64.2-1613. Exoneration of agent.
A provision in a power of attorney relieving an agent of liability for breach of duty is binding on the principal and the principal's successors in interest 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 the power of attorney or the best interest of the principal; or

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

2010, cc. 455, 632, § 26-86; 2012, c. 614.
Code of Virginia — Title 64.2 (Wills, Trusts, and Fiduciaries), Chapter 16 (Uniform Power of Attorney Act)
§ 64.2-1615. Agent's liability.
An agent that violates this chapter is liable to the principal or the principal's successors in interest for the amount required to:

1. Restore the value of the principal's property to what it would have been had the violation not occurred; and

2. Reimburse the principal or the principal's successors in interest for the attorney fees and costs paid on the agent's behalf.

2010, cc. 455, 632, § 26-88; 2012, c. 614.

Code of Virginia — Title 64.2 (Wills, Trusts, and Fiduciaries), Chapter 16 (Uniform Power of Attorney Act)
§ 64.2-1616. Agent's resignation; notice.
Unless the power of attorney provides a different method for an agent's resignation, an agent may resign by giving notice to the principal and, if the principal is incapacitated:

1. To the conservator or guardian, if one has been appointed for the principal, and a coagent or successor agent;

2. If there is no person described in subdivision 1, to an adult who is a spouse, child or other descendant, parent, brother, or sister of the principal;

3. If none of the foregoing persons is reasonably available, another person reasonably believed by the agent to have sufficient interest in the principal's welfare; or

4. If none of the foregoing persons is reasonably available, the adult protective services unit of the local department of social services for the county or city where the principal resides or is located.

2010, cc. 455, 632, § 26-89; 2012, c. 614.
Code of Virginia — Title 64.2 (Wills, Trusts, and Fiduciaries), Chapter 16 (Uniform Power of Attorney Act)
§ 64.2-1617. Acceptance of and reliance upon acknowledged power of attorney.
A. For purposes of this section and § 64.2-1618, "acknowledged" means verified before a notary public or other individual authorized to take acknowledgments.

B. A person that in good faith accepts an acknowledged power of attorney that has been signed in accordance with § 64.2-1603 without actual knowledge that the power of attorney is void, invalid, or terminated, that the purported agent's authority is void, invalid, or terminated, or that the agent is exceeding or improperly exercising the agent's authority may rely upon the power of attorney as if the power of attorney were genuine, valid, and still in effect, the agent's authority were genuine, valid, and still in effect, and the agent had not exceeded and had properly exercised the authority. The preceding sentence shall not apply to an acknowledged power of attorney that contains a forged signature of the principal.

C. A person that is asked to accept an acknowledged power of attorney may request, and rely upon, without further investigation, any or all of the following:

1. An agent's certification under oath of any factual matter concerning the principal, agent, or power of attorney;

2. An English translation of the power of attorney if the power of attorney contains, in whole or in part, language other than English; and

3. An opinion of the counsel for the principal or the agent, or the opinion of counsel for the person, as to any matter of law concerning the power of attorney if the person making the request provides in a writing or other record the reason for the request.

D. An English translation or an opinion of counsel for the principal or the agent requested under this section shall be provided at the principal's expense.

E. An agent's certification, an English translation, or an opinion of counsel shall be in recordable form if the exercise of the power requires recordation of any instrument under the laws of the Commonwealth.

F. For purposes of this section and § 64.2-1618, a person that conducts activities through employees and exercises commercially reasonable procedures to communicate information concerning powers of attorney among its employees is without actual knowledge of a fact relating to a power of attorney, a principal, or an agent if the employee conducting the transaction involving the power of attorney has followed such procedures and is nonetheless without actual knowledge of the fact.

2010, cc. 455, 632, § 26-90; 2012, c. 614.
Code of Virginia — Title 64.2 (Wills, Trusts, and Fiduciaries), Chapter 16 (Uniform Power of Attorney Act)
§ 64.2-1618. Liability for refusal to accept acknowledged power of attorney.
A. Except as otherwise provided in subsection B:

1. A person shall either accept an acknowledged power of attorney or request a certification, a translation, or an opinion of counsel under subsection C of § 64.2-1617 no later than seven business days after presentation of the power of attorney for acceptance;

2. If a person requests a certification, a translation, or an opinion of counsel under subsection C of § 64.2-1617, the person shall accept the power of attorney no later than five business days after receipt of the certification, translation, or opinion of counsel; and

3. A person may not require an additional or different form of power of attorney for authority granted in the power of attorney presented.

B. A person is not required to accept an acknowledged power of attorney for a transaction if:

1. The person is not otherwise required to engage in the transaction with the principal in the same circumstances, or the principal has otherwise relieved the person from an obligation to engage in the transaction with an agent representing the principal under a power of attorney;

2. Engaging in the transaction with the agent or the principal in the same circumstances would be inconsistent with federal law;

3. The person has actual knowledge of the termination of the agent's authority or of the power of attorney before exercise of the power;

4. A request for a certification, a translation, or an opinion of counsel under subsection C of § 64.2-1617 is refused;

5. The person in good faith believes that the power is not valid or that the agent does not have the authority to perform the act requested, whether or not a certification, a translation, or an opinion of counsel under subsection C of § 64.2-1617 has been requested or provided; or

6. The person makes, or has actual knowledge that another person has made, a report to the local adult protective services department or adult protective services hotline stating a good faith belief that the principal may be subject to physical or financial abuse, neglect, exploitation, or abandonment by the agent or a person acting for or with the agent.

C. A person that refuses in violation of this section to accept an acknowledged power of attorney is subject to:

1. A court order mandating acceptance of the power of attorney; and

2. Liability for reasonable attorney fees and costs incurred in any action or proceeding that confirms the validity of the power of attorney or mandates acceptance of the power of attorney.

D. For purposes of this section, "business day" shall refer to any day other than Saturday, Sunday, or any day designated as a holiday by the Commonwealth or the federal government.

2010, cc. 455, 632, § 26-91; 2012, c. 614.
Code of Virginia — Title 64.2 (Wills, Trusts, and Fiduciaries), Chapter 16 (Uniform Power of Attorney Act)
§ 64.2-1619. Principles of law and equity.
Unless displaced by a provision of this chapter, the principles of law and equity supplement this chapter.

2010, cc. 455, 632, § 26-92; 2012, c. 614.

Code of Virginia — Title 64.2 (Wills, Trusts, and Fiduciaries), Chapter 16 (Uniform Power of Attorney Act)
§ 64.2-1620. Laws applicable to financial institutions and entities.
This chapter does not supersede any other law applicable to financial institutions or other entities, and the other law controls if inconsistent with this chapter.

2010, cc. 455, 632, § 26-93; 2012, c. 614.

Code of Virginia — Title 64.2 (Wills, Trusts, and Fiduciaries), Chapter 16 (Uniform Power of Attorney Act)
§ 64.2-1621. Remedies under other law.
The remedies under this chapter are not exclusive and do not abrogate any right, remedy, or penalty, including a court-supervised accounting or criminal prosecution, under the laws of the Commonwealth other than this chapter.

2010, cc. 455, 632, § 26-94; 2012, c. 614; 2022, cc. 397, 654.
Code of Virginia — Title 64.2 (Wills, Trusts, and Fiduciaries), Chapter 16 (Uniform Power of Attorney Act)
§ 64.2-1623. Incorporation of authority.
A. An agent has authority described in this article if the power of attorney refers to general authority with respect to the descriptive term for the subjects stated in §§ 64.2-1625 through 64.2-1638, or cites the section in which the authority is described.

B. A reference in a power of attorney to general authority with respect to the descriptive term for a subject in §§ 64.2-1625 through 64.2-1638 or a citation to a section of §§ 64.2-1625 through 64.2-1638 incorporates the entire section as if it were set out in full in the power of attorney.

C. A principal may modify authority incorporated by reference.

2010, cc. 455, 632, § 26-96; 2012, c. 614.
Code of Virginia — Title 64.2 (Wills, Trusts, and Fiduciaries), Chapter 16 (Uniform Power of Attorney Act)
§ 64.2-1624. Construction of authority generally.
Except as otherwise provided in the power of attorney, by executing a power of attorney that incorporates by reference a subject described in §§ 64.2-1625 through 64.2-1638 or that grants to an agent authority to do all acts that a principal could do pursuant to subsection C of § 64.2-1622, a principal authorizes the agent, with respect to that subject, to:

1. Demand, receive, and obtain by litigation or otherwise, money or another thing of value to which the principal is, may become, or claims to be entitled, and conserve, invest, disburse, or use anything so received or obtained for the purposes intended;

2. Contract in any manner with any person, on terms agreeable to the agent, to accomplish a purpose of a transaction and perform, rescind, cancel, terminate, reform, restate, release, or modify the contract or another contract made by or on behalf of the principal;

3. Execute, acknowledge, seal, deliver, file, or record any instrument or communication the agent considers desirable to accomplish a purpose of a transaction, including creating at any time a schedule listing some or all of the principal's property and attaching it to the power of attorney;

4. Initiate, participate in, submit to alternative dispute resolution, settle, oppose, or propose or accept a compromise with respect to a claim existing in favor of or against the principal or intervene in litigation relating to the claim;

5. Seek on the principal's behalf the assistance of a court or other governmental agency to carry out an act authorized in the power of attorney;

6. Engage, compensate, and discharge an attorney, accountant, discretionary investment manager, expert witness, or other advisor;

7. Prepare, execute, and file a record, report, or other document to safeguard or promote the principal's interest under a statute or regulation;

8. Communicate with any representative or employee of a government or governmental subdivision, agency, or instrumentality, on behalf of the principal;

9. Access communications intended for, and communicate on behalf of the principal, whether by mail, electronic transmission, telephone, or other means; and

10. Do any lawful act with respect to the subject and all property related to the subject.

2010, cc. 455, 632, § 26-97; 2012, c. 614.
Code of Virginia — Title 64.2 (Wills, Trusts, and Fiduciaries), Chapter 16 (Uniform Power of Attorney Act)
§ 64.2-1626. Tangible personal property.
Unless the power of attorney otherwise provides, language in a power of attorney granting general authority with respect to tangible personal property authorizes the agent to:

1. Demand, buy, receive, accept as a gift or as security for an extension of credit, or otherwise acquire or reject ownership or possession of tangible personal property or an interest in tangible personal property;

2. Sell; exchange; convey with or without covenants, representations, or warranties; quitclaim; release; surrender; create a security interest in; grant options concerning; lease; sublease; or otherwise dispose of tangible personal property or an interest in tangible personal property;

3. Grant a security interest in tangible personal property or an interest in tangible personal property as security to borrow money or pay, renew, or extend the time of payment of a debt of the principal or a debt guaranteed by the principal;

4. Release, assign, satisfy, or enforce by litigation or otherwise, a security interest, lien, or other claim on behalf of the principal, with respect to tangible personal property or an interest in tangible personal property;

5. Manage or conserve tangible personal property or an interest in tangible personal property on behalf of the principal, including:

a. Insuring against liability or casualty or other loss;

b. Obtaining or regaining possession of or protecting the property or interest, by litigation or otherwise;

c. Paying, assessing, compromising, or contesting taxes or assessments or applying for and receiving refunds in connection with taxes or assessments;

d. Moving the property from place to place;

e. Storing the property for hire or on a gratuitous bailment; and

f. Using and making repairs, alterations, or improvements to the property; and

6. Change the form of title of an interest in tangible personal property.

2010, cc. 455, 632, § 26-99; 2012, c. 614.

Code of Virginia — Title 64.2 (Wills, Trusts, and Fiduciaries), Chapter 16 (Uniform Power of Attorney Act)
§ 64.2-1627. Stocks and bonds.
Unless the power of attorney otherwise provides, language in a power of attorney granting general authority with respect to stocks and bonds authorizes the agent to:

1. Buy, sell, and exchange stocks and bonds;

2. Establish, continue, modify, or terminate an account with respect to stocks and bonds;

3. Pledge stocks and bonds as security to borrow, pay, renew, or extend the time of payment of a debt of the principal;

4. Receive certificates and other evidences of ownership with respect to stocks and bonds; and

5. Exercise voting rights with respect to stocks and bonds in person or by proxy, enter into voting trusts, and consent to limitations on the right to vote.

2010, cc. 455, 632, § 26-100; 2012, c. 614.
Code of Virginia — Title 64.2 (Wills, Trusts, and Fiduciaries), Chapter 16 (Uniform Power of Attorney Act)
§ 64.2-1628. Commodities and options.
Unless the power of attorney otherwise provides, language in a power of attorney granting general authority with respect to commodities and options authorizes the agent to:

1. Buy, sell, exchange, assign, settle, and exercise commodity futures contracts and call or put options on stocks or stock indexes traded on a regulated option exchange; and

2. Establish, continue, modify, and terminate option accounts.

2010, cc. 455, 632, § 26-101; 2012, c. 614.

Code of Virginia — Title 64.2 (Wills, Trusts, and Fiduciaries), Chapter 16 (Uniform Power of Attorney Act)
§ 64.2-1629. Banks and other financial institutions.
Unless the power of attorney otherwise provides, language in a power of attorney granting general authority with respect to banks and other financial institutions authorizes the agent to:

1. Continue, modify, and terminate an account or other banking arrangement made by or on behalf of the principal;

2. Establish, modify, and terminate an account or other banking arrangement with a bank, trust company, savings and loan association, credit union, thrift company, brokerage firm, or other financial institution selected by the agent;

3. Contract for services available from a financial institution, including renting a safe deposit box or space in a vault;

4. Withdraw, by check, order, electronic funds transfer, or otherwise, money or property of the principal deposited with or left in the custody of a financial institution;

5. Receive statements of account, vouchers, notices, and similar documents from a financial institution and act with respect to them;

6. Enter a safe deposit box or vault and withdraw or add to the contents;

7. Borrow money and pledge as security personal property of the principal necessary to borrow money or pay, renew, or extend the time of payment of a debt of the principal or a debt guaranteed by the principal;

8. Make, assign, draw, endorse, discount, guarantee, and negotiate promissory notes, checks, drafts, and other negotiable or nonnegotiable paper of the principal or payable to the principal or the principal's order, transfer money, receive the cash or other proceeds of those transactions, and accept a draft drawn by a person upon the principal and pay it when due;

9. Receive for the principal and act upon a sight draft, warehouse receipt, or other document of title whether tangible or electronic, or other negotiable or nonnegotiable instrument;

10. Apply for, receive, and use letters of credit, credit and debit cards, electronic transaction authorizations, and traveler's checks from a financial institution and give an indemnity or other agreement in connection with letters of credit; and

11. Consent to an extension of the time of payment with respect to commercial paper or a financial transaction with a financial institution.

2010, cc. 455, 632, § 26-102; 2012, c. 614.
Code of Virginia — Title 64.2 (Wills, Trusts, and Fiduciaries), Chapter 16 (Uniform Power of Attorney Act)
§ 64.2-1631. Insurance and annuities.
Unless the power of attorney otherwise provides, language in a power of attorney granting general authority with respect to insurance and annuities authorizes the agent to:

1. Continue, pay the premium or make a contribution on, modify, exchange, rescind, release, or terminate a contract procured by or on behalf of the principal that insures or provides an annuity to either the principal or another person, whether or not the principal is a beneficiary under the contract;

2. Procure new, different, and additional contracts of insurance and annuities for the principal and the principal's spouse, children, and other dependents and select the amount, type of insurance or annuity, and mode of payment;

3. Pay the premium or make a contribution on, modify, exchange, rescind, release, or terminate a contract of insurance or annuity procured by the agent;

4. Apply for and receive a loan secured by a contract of insurance or annuity;

5. Surrender and receive the cash surrender value on a contract of insurance or annuity;

6. Exercise an election;

7. Exercise investment powers available under a contract of insurance or annuity;

8. Change the manner of paying premiums on a contract of insurance or annuity;

9. Change or convert the type of insurance or annuity with respect to which the principal has or claims to have authority described in this section;

10. Apply for and procure a benefit or assistance under a statute or regulation to guarantee or pay premiums of a contract of insurance on the life of the principal;

11. Collect, sell, assign, hypothecate, borrow against, or pledge the interest of the principal in a contract of insurance or annuity;

12. Select the form and timing of the payment of proceeds from a contract of insurance or annuity; and

13. Pay, from proceeds or otherwise, compromise or contest, and apply for refunds in connection with a tax or assessment levied by a taxing authority with respect to a contract of insurance or annuity or its proceeds or liability accruing by reason of the tax or assessment.

2010, cc. 455, 632, § 26-104; 2012, c. 614.
Code of Virginia — Title 64.2 (Wills, Trusts, and Fiduciaries), Chapter 16 (Uniform Power of Attorney Act)
§ 64.2-1632. Estates, trusts, and other beneficial interests.
A. In this section, "estate, trust, or other beneficial interest" means a trust, probate estate, guardianship, conservatorship, escrow, or custodianship or a fund from which the principal is, may become, or claims to be entitled to a share or payment.

B. Unless the power of attorney otherwise provides, language in a power of attorney granting general authority with respect to estates, trusts, and other beneficial interests authorizes the agent to:

1. Accept, receive, receipt for, sell, assign, pledge, or exchange a share in or payment from an estate, trust, or other beneficial interest;

2. Demand or obtain money or another thing of value to which the principal is, may become, or claims to be entitled by reason of an estate, trust, or other beneficial interest, by litigation or otherwise;

3. Exercise for the benefit of the principal a presently exercisable general power of appointment held by the principal;

4. Initiate, participate in, submit to alternative dispute resolution of, settle, oppose, or propose or accept a compromise with respect to litigation to ascertain the meaning, validity, or effect of a deed, will, declaration of trust, or other instrument or transaction affecting the interest of the principal;

5. Initiate, participate in, submit to alternative dispute resolution of, settle, oppose, or propose or accept a compromise with respect to litigation to remove, substitute, or surcharge a fiduciary;

6. Conserve, invest, disburse, or use anything received for an authorized purpose;

7. Transfer an interest of the principal in real property, stocks and bonds, accounts with financial institutions or securities intermediaries, insurance, annuities, and other property to the trustee of a revocable trust created by the principal as settlor; and

8. Reject, renounce, disclaim, release, or consent to a reduction in or modification of a share in or payment from an estate, trust, or other beneficial interest.

2010, cc. 455, 632, § 26-105; 2012, c. 614.
Code of Virginia — Title 64.2 (Wills, Trusts, and Fiduciaries), Chapter 16 (Uniform Power of Attorney Act)
§ 64.2-1633. Claims and litigation.
Unless the power of attorney otherwise provides, language in a power of attorney granting general authority with respect to claims and litigation authorizes the agent to:

1. Assert and maintain before a court or administrative agency a claim, claim for relief, cause of action, counterclaim, offset, recoupment, or defense, including an action to recover property or other thing of value, recover damages sustained by the principal, eliminate or modify tax liability, or seek an injunction, specific performance, or other relief;

2. Bring an action to determine adverse claims or intervene or otherwise participate in litigation;

3. Seek an attachment, garnishment, order of arrest, or other preliminary, provisional, or intermediate relief and use an available procedure to effect or satisfy a judgment, order, or decree;

4. Make or accept a tender, offer of judgment, or admission of facts; submit a controversy on an agreed statement of facts; consent to examination; and bind the principal in litigation;

5. Submit to alternative dispute resolution, settle, and propose or accept a compromise;

6. Waive the issuance and service of process upon the principal, accept service of process, appear for the principal, designate persons upon which process directed to the principal may be served, execute and file or deliver stipulations on the principal's behalf, verify pleadings, seek appellate review, procure and give surety and indemnity bonds, contract and pay for the preparation and printing of records and briefs, and receive, execute, and file or deliver a consent, waiver, release, confession of judgment, satisfaction of judgment, notice, agreement, or other instrument in connection with the prosecution, settlement, or defense of a claim or litigation;

7. Act for the principal with respect to bankruptcy or insolvency, whether voluntary or involuntary, concerning the principal or some other person, or with respect to a reorganization, receivership, or application for the appointment of a receiver or trustee that affects an interest of the principal in property or other thing of value;

8. Pay a judgment, award, or order against the principal or a settlement made in connection with a claim or litigation; and

9. Receive money or other thing of value paid in settlement of or as proceeds of a claim or litigation.

2010, cc. 455, 632, § 26-106; 2012, c. 614.