reglab/statecodes huggingface dataset:
2023 CODE OF GEORGIA › Title 10 - COMMERCE AND TRADE (§§ 10-1-1 — 10-15-7) › Chapter 6B - GEORGIA POWER OF ATTORNEY ACT (§§ 10-6B-1 — 10-6B-81) › Article 1 - GENERAL PROVISIONS (§§ 10-6B-1 — 10-6B-23) › Section 10-6B-9 - When power of attorney effective

(a)
A power of attorney shall be 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 shall become effective upon a certification in a writing or other record by:
(1)
A physician or licensed psychologist determining that the principal has an impairment in the ability to receive and evaluate information or make or communicate decisions even with the use of technological assistance; or
(2)
An attorney at law, a judge, or an appropriate governmental official determining that the principal is missing, detained, including incarcerated in a penal system, or is outside the United States and unable to return.
(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, Sections 1171 through 1179 of the Social Security Act,
42 U.S.C. Section 1320d
, in effect on February 1, 2018, and applicable regulations in effect on February 1, 2018, to obtain access to the principal's health care information and communicate with the principal's health care provider.
Amended by 2018 Ga. Laws 412,§ 22, eff. 7/1/2018.
Added by 2017 Ga. Laws 186,§ 2-1, eff. 7/1/2017.
2023 CODE OF GEORGIA › Title 10 - COMMERCE AND TRADE (§§ 10-1-1 — 10-15-7) › Chapter 6B - GEORGIA POWER OF ATTORNEY ACT (§§ 10-6B-1 — 10-6B-81) › Article 1 - GENERAL PROVISIONS (§§ 10-6B-1 — 10-6B-23) › Section 10-6B-10 - Termination of power of attorney and agent's authority; third party reliance; filing with clerk

(a)
A power of attorney shall terminate when:
(1)
The principal dies;
(2)
The principal becomes incapacitated, if the power of attorney specifically provides that it is not durable;
(3)
The principal revokes the power of attorney;
(4)
The principal revokes the agent's authority or the agent resigns, becomes incapacitated, or dies and the power of attorney does not provide for another agent to act under such power of attorney;
(5)
The power of attorney provides that it terminates; or
(6)
The purpose of the power of attorney is accomplished.
(b)
An agent's authority shall terminate when:
(1)
The agent resigns, becomes incapacitated, or dies;
(2)
The principal revokes the agent's authority;
(3)
An action is filed for the dissolution or annulment of the agent's marriage to the principal or their legal separation, unless the power of attorney otherwise provides; or
(4)
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) of this Code section, 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 shall not be 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, shall bind the principal and the principal's successors in interest.
(e)
Incapacity of the principal of a power of attorney that is not durable shall 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, shall bind the principal and the principal's successors in interest.
(f)
The execution of a power of attorney shall not revoke a power of attorney previously executed by the principal unless the subsequent power of attorney provides that the previous power of attorney shall be revoked or that all other powers of attorney are revoked.
(g)
Nothing in this Code section shall prevent a principal who notifies an agent of the revocation of the agent's authority or power of attorney by certified mail or statutory overnight delivery from filing such notification and evidence of its receipt by the agent with the clerk of superior court in the county of the principal's domicile for the purposes of establishing such agent had knowledge of the principal's revocation.
Amended by 2018 Ga. Laws 412,§ 7, eff. 7/1/2018.
Added by 2017 Ga. Laws 186,§ 2-1, eff. 7/1/2017.
2023 CODE OF GEORGIA › Title 10 - COMMERCE AND TRADE (§§ 10-1-1 — 10-15-7) › Chapter 6B - GEORGIA POWER OF ATTORNEY ACT (§§ 10-6B-1 — 10-6B-81) › Article 1 - GENERAL PROVISIONS (§§ 10-6B-1 — 10-6B-23) › Section 10-6B-11 - Designation of coagents; role of successor agent; notification of violation

(a)
A principal may designate two or more persons to act as coagents. Unless the power of attorney otherwise provides, coagents shall exercise their authority independently.
(b)
(1)
A principal may designate one or more successor agents to act if an agent resigns, dies, becomes incapacitated, is no longer qualified to serve, has declined to serve, or dies. 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 shall:
(A)
Have the same authority as that granted to the original agent; and
(B)
Not act until all predecessor agents have resigned, become incapacitated, are no longer qualified to serve, have declined to serve, or died.
(2)
An agent who has been incapacitated for more than six months shall not resume acting as an agent pursuant to the power of attorney that created the agency during which the agent became incapacitated.
(c)
Except as otherwise provided in the power of attorney and subsection (d) of this Code section, an agent that does not participate in or conceal a breach of fiduciary duty committed by another agent, including a predecessor agent, shall not be 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 shall be liable for the reasonably foreseeable damages that could have been avoided if the agent had notified the principal or taken such action.
Amended by 2018 Ga. Laws 412,§ 8, eff. 7/1/2018.
Added by 2017 Ga. Laws 186,§ 2-1, eff. 7/1/2017.
2023 CODE OF GEORGIA › Title 10 - COMMERCE AND TRADE (§§ 10-1-1 — 10-15-7) › Chapter 6B - GEORGIA POWER OF ATTORNEY ACT (§§ 10-6B-1 — 10-6B-81) › Article 1 - GENERAL PROVISIONS (§§ 10-6B-1 — 10-6B-23) › Section 10-6B-12 - Compensation

Unless the power of attorney otherwise provides, an agent shall not be entitled to compensation for services rendered. An agent shall be entitled to reasonable reimbursement of expenses incurred in performing the acts required by the principal under the power of attorney.
Added by 2017 Ga. Laws 186,§ 2-1, eff. 7/1/2017.
2023 CODE OF GEORGIA › Title 10 - COMMERCE AND TRADE (§§ 10-1-1 — 10-15-7) › Chapter 6B - GEORGIA POWER OF ATTORNEY ACT (§§ 10-6B-1 — 10-6B-81) › Article 1 - GENERAL PROVISIONS (§§ 10-6B-1 — 10-6B-23) › Section 10-6B-13 - Agent's acceptance of appointment

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.
Added by 2017 Ga. Laws 186,§ 2-1, eff. 7/1/2017.
2023 CODE OF GEORGIA › Title 10 - COMMERCE AND TRADE (§§ 10-1-1 — 10-15-7) › Chapter 6B - GEORGIA POWER OF ATTORNEY ACT (§§ 10-6B-1 — 10-6B-81) › Article 1 - GENERAL PROVISIONS (§§ 10-6B-1 — 10-6B-23) › Section 10-6B-15 - Agent liability

A provision in a power of attorney relieving an agent of liability for breach of duty shall be 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 in bad faith, 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.
Added by 2017 Ga. Laws 186,§ 2-1, eff. 7/1/2017.
2023 CODE OF GEORGIA › Title 10 - COMMERCE AND TRADE (§§ 10-1-1 — 10-15-7) › Chapter 6B - GEORGIA POWER OF ATTORNEY ACT (§§ 10-6B-1 — 10-6B-81) › Article 1 - GENERAL PROVISIONS (§§ 10-6B-1 — 10-6B-23) › Section 10-6B-16 - Petition for construction of power of attorney or role of agent; reimbursement for fees and expenses

(a)
The following persons may petition a court to construe a power of attorney or review the agent's conduct, and grant appropriate relief:
(1)
The principal or the agent;
(2)
A guardian, conservator, personal representative, or other fiduciary acting for the principal or for the principal's estate;
(3)
A person authorized to make health care decisions for the principal;
(4)
The principal's spouse, parent, or descendant;
(5)
An individual who would qualify as a presumptive heir of the principal;
(6)
A person named as a beneficiary to receive any property, benefit, or contractual right on the principal's death or as a beneficiary of a trust created by or for the principal that has a financial interest in the principal's estate;
(7)
A governmental agency having authority to protect the welfare of the principal;
(8)
The principal's caregiver or another person that demonstrates sufficient interest in the principal's welfare; and
(9)
A person asked to accept the power of attorney.
(b)
If a petition under this Code section was in the best interest of the principal and the agent admitted to a violation of this chapter or a court found that such agent violated this chapter, a court may order the principal to reimburse the persons, other than a governmental agency, who made such petition for part or all of the reasonable attorney's fees and expenses of litigation incurred by such persons, provided that such fees and expenses were not imposed on the agent, were related to the agent's violation of this chapter, and were reasonable in the context of the agent's misconduct and the general circumstances of the principal.
(c)
Upon motion by the principal, the court shall dismiss a petition filed under this Code section, unless the court finds that the principal lacks capacity to revoke the agent's authority or the power of attorney.
Amended by 2018 Ga. Laws 412,§ 10, eff. 7/1/2018.
Added by 2017 Ga. Laws 186,§ 2-1, eff. 7/1/2017.
2023 CODE OF GEORGIA › Title 10 - COMMERCE AND TRADE (§§ 10-1-1 — 10-15-7) › Chapter 6B - GEORGIA POWER OF ATTORNEY ACT (§§ 10-6B-1 — 10-6B-81) › Article 1 - GENERAL PROVISIONS (§§ 10-6B-1 — 10-6B-23) › Section 10-6B-17 - Agent's liability to principal

An agent that violates this chapter shall be 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's fees and costs paid on the agent's behalf.
Added by 2017 Ga. Laws 186,§ 2-1, eff. 7/1/2017.
2023 CODE OF GEORGIA › Title 10 - COMMERCE AND TRADE (§§ 10-1-1 — 10-15-7) › Chapter 6B - GEORGIA POWER OF ATTORNEY ACT (§§ 10-6B-1 — 10-6B-81) › Article 1 - GENERAL PROVISIONS (§§ 10-6B-1 — 10-6B-23) › Section 10-6B-18 - Resignation of agent

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; or
(2)
If there is no person described in paragraph (1) of this Code section, to:
(A)
The principal's caregiver; or
(B)
Another person reasonably believed by the agent to have sufficient interest in the principal's welfare.
Added by 2017 Ga. Laws 186,§ 2-1, eff. 7/1/2017.
2023 CODE OF GEORGIA › Title 10 - COMMERCE AND TRADE (§§ 10-1-1 — 10-15-7) › Chapter 6B - GEORGIA POWER OF ATTORNEY ACT (§§ 10-6B-1 — 10-6B-81) › Article 1 - GENERAL PROVISIONS (§§ 10-6B-1 — 10-6B-23) › Section 10-6B-19 - "Attested power of attorney" defined; acceptance of and reliance upon attested power of attorney

(a)
As used in this Code section, the term "attested power of attorney" means a power of attorney that was purportedly attested as set forth in Code Section
44-2-15
.
(b)
A person that in good faith accepts an attested power of attorney without actual knowledge that the signature is not genuine may rely upon the presumption under Code Section
10-6B-5
that the signature is genuine.
(c)
A person that in good faith accepts an attested power of attorney without actual knowledge that such 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 such power of attorney as if it 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.
(d)
A person that is asked to accept an attested power of attorney may request, and rely upon, without further investigation:
(1)
An agent's certification under penalty of perjury of any factual matter concerning the principal, agent, or such power of attorney;
(2)
An English translation of such power of attorney if it contains, in whole or in part, language other than English; and
(3)
An opinion of an attorney as to any matter of law concerning such power of attorney if the person making the request provides in a writing or other record the reason for the request.
(e)
An English translation or an opinion of an attorney requested under this Code section shall be provided at the principal's expense unless the request is made more than seven business days after an attested power of attorney is presented for acceptance.
(f)
For purposes of this Code section, a person that conducts activities through employees shall be without actual knowledge of a fact relating to an attested power of attorney, a principal, or an agent if the employee conducting the transaction involving such power of attorney is without actual knowledge of the fact.
Amended by 2018 Ga. Laws 412,§ 11, eff. 7/1/2018.
Added by 2017 Ga. Laws 186,§ 2-1, eff. 7/1/2017.
2023 CODE OF GEORGIA › Title 10 - COMMERCE AND TRADE (§§ 10-1-1 — 10-15-7) › Chapter 6B - GEORGIA POWER OF ATTORNEY ACT (§§ 10-6B-1 — 10-6B-81) › Article 1 - GENERAL PROVISIONS (§§ 10-6B-1 — 10-6B-23) › Section 10-6B-21 - Principles of law and equity

Unless displaced by a provision of this chapter, the principles of law and equity supplement this chapter.
Added by 2017 Ga. Laws 186,§ 2-1, eff. 7/1/2017.
2023 CODE OF GEORGIA › Title 10 - COMMERCE AND TRADE (§§ 10-1-1 — 10-15-7) › Chapter 6B - GEORGIA POWER OF ATTORNEY ACT (§§ 10-6B-1 — 10-6B-81) › Article 1 - GENERAL PROVISIONS (§§ 10-6B-1 — 10-6B-23) › Section 10-6B-22 - Laws applicable to financial institutions and entities

(a)
This chapter shall not supersede any other law applicable to financial institutions or other entities, and the other law controls if inconsistent with this chapter.
(b)
This chapter shall not supersede the Bank Secrecy Act of 1970,
31 U.S.C. Section 5311
, in effect on February 1, 2018, and the corresponding regulations thereto, in effect on February 1, 2018.
Amended by 2018 Ga. Laws 412,§ 22, eff. 7/1/2018.
Added by 2017 Ga. Laws 186,§ 2-1, eff. 7/1/2017.
2023 CODE OF GEORGIA › Title 10 - COMMERCE AND TRADE (§§ 10-1-1 — 10-15-7) › Chapter 6B - GEORGIA POWER OF ATTORNEY ACT (§§ 10-6B-1 — 10-6B-81) › Article 1 - GENERAL PROVISIONS (§§ 10-6B-1 — 10-6B-23) › Section 10-6B-23 - Rights and remedies under other law

The remedies under this chapter shall not be exclusive and shall not abrogate any right or remedy under the laws of this state other than this chapter.
Added by 2017 Ga. Laws 186,§ 2-1, eff. 7/1/2017.
2023 CODE OF GEORGIA › Title 10 - COMMERCE AND TRADE (§§ 10-1-1 — 10-15-7) › Chapter 6B - GEORGIA POWER OF ATTORNEY ACT (§§ 10-6B-1 — 10-6B-81) › Article 2 - AUTHORITY OF AGENTS (§§ 10-6B-40 — 10-6B-56) › Section 10-6B-41 - References to general authority in powers of attorney; modifications

(a)
An agent shall have 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 Code Sections
10-6B-43
through
10-6B-56
or cites the Code 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 stated in Code Sections
10-6B-43
through
10-6B-56
or a citation to a specific Code section in Code Sections
10-6B-43
through
10-6B-56
shall incorporate the entire Code section as if it were set out in full in the power of attorney.
(c)
A principal may modify authority incorporated by reference.
Added by 2017 Ga. Laws 186,§ 2-1, eff. 7/1/2017.
2023 CODE OF GEORGIA › Title 10 - COMMERCE AND TRADE (§§ 10-1-1 — 10-15-7) › Chapter 6B - GEORGIA POWER OF ATTORNEY ACT (§§ 10-6B-1 — 10-6B-81) › Article 2 - AUTHORITY OF AGENTS (§§ 10-6B-40 — 10-6B-56) › Section 10-6B-42 - Construction of authority of agent generally

Except as otherwise provided in the power of attorney, by executing a power of attorney that incorporates by reference a subject described in Code Sections
10-6B-43
through
10-6B-56
or that grants to an agent authority to do all acts that a principal could do pursuant to subsection (c) of Code Section
10-6B-40
, a principal shall authorize the agent, with respect to that subject, to:
(1)
Demand, receive, and obtain by litigation or otherwise, money or any other 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 law or regulation;
(8)
Communicate with any representative or employee of a government or governmental subdivision, agency, or instrumentality, on behalf of the principal;
(9)
Except as otherwise provided under federal privacy laws, access communications intended for, and communicate on behalf of the principal, whether by mail, electronic transmission, telephone, or other means;
(10)
Exercise all authority over digital assets for which an express grant by the principal is not required; and
(11)
Do any lawful act with respect to the subject and all property related to the subject.
Amended by 2018 Ga. Laws 412,§ 14, eff. 7/1/2018.
Added by 2017 Ga. Laws 186,§ 2-1, eff. 7/1/2017.
2023 CODE OF GEORGIA › Title 10 - COMMERCE AND TRADE (§§ 10-1-1 — 10-15-7) › Chapter 6B - GEORGIA POWER OF ATTORNEY ACT (§§ 10-6B-1 — 10-6B-81) › Article 2 - AUTHORITY OF AGENTS (§§ 10-6B-40 — 10-6B-56) › Section 10-6B-43 - Real property

Unless the power of attorney otherwise provides, language in a power of attorney granting general authority with respect to real property shall authorize the agent to:
(1)
Demand, buy, lease, receive, accept as a gift or as security for an extension of credit, or otherwise acquire or reject an interest in real property or a right incident to real property;
(2)
Sell; exchange; convey with or without covenants, representations, or warranties; quitclaim; release; surrender; retain title for security; encumber; partition; consent to partitioning; subject to an easement or covenant; subdivide; apply for zoning or other governmental permits; plat or consent to platting; develop; grant an option concerning; lease; sublease; contribute to an entity in exchange for an interest in that entity; or otherwise grant or dispose of an interest in real property or a right incident to real property;
(3)
Pledge or mortgage an interest in real property or right incident to real 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 mortgage, deed of trust, conditional sale contract, encumbrance, lien, or other claim to real property which exists or is asserted;
(5)
Manage or conserve an interest in real property or a right incident to real property owned or claimed to be owned by the principal, including:
(A)
Insuring against liability or casualty or other loss;
(B)
Obtaining or regaining possession of or protecting the interest or right by litigation or otherwise;
(C)
Paying, assessing, compromising, or contesting taxes or assessments or applying for and receiving refunds in connection with such taxes or assessments; and
(D)
Purchasing supplies, hiring assistance or labor, and making repairs or alterations to the real property;
(6)
Use, develop, alter, replace, remove, erect, or install structures or other improvements upon real property in or incident to which the principal has, or claims to have, an interest or right;
(7)
Participate in a reorganization with respect to real property or an entity that owns an interest in or right incident to real property and receive, and hold, and act with respect to stocks and bonds or other property received in a plan of reorganization, including:
(A)
Selling or otherwise disposing of them;
(B)
Exercising or selling an option, right of conversion, or similar right with respect to them; and
(C)
Exercising any voting rights in person or by proxy;
(8)
Change the form of title of an interest in or right incident to real property; and
(9)
Dedicate to public use, with or without consideration, easements or other real property in which the principal has, or claims to have, an interest.
Added by 2017 Ga. Laws 186,§ 2-1, eff. 7/1/2017.
2023 CODE OF GEORGIA › Title 10 - COMMERCE AND TRADE (§§ 10-1-1 — 10-15-7) › Chapter 6B - GEORGIA POWER OF ATTORNEY ACT (§§ 10-6B-1 — 10-6B-81) › Article 2 - AUTHORITY OF AGENTS (§§ 10-6B-40 — 10-6B-56) › Section 10-6B-44 - 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 shall authorize 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 such 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.
Added by 2017 Ga. Laws 186,§ 2-1, eff. 7/1/2017.
2023 CODE OF GEORGIA › Title 10 - COMMERCE AND TRADE (§§ 10-1-1 — 10-15-7) › Chapter 6B - GEORGIA POWER OF ATTORNEY ACT (§§ 10-6B-1 — 10-6B-81) › Article 2 - AUTHORITY OF AGENTS (§§ 10-6B-40 — 10-6B-56) › Section 10-6B-45 - 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 shall authorize 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.
Added by 2017 Ga. Laws 186,§ 2-1, eff. 7/1/2017.
2023 CODE OF GEORGIA › Title 10 - COMMERCE AND TRADE (§§ 10-1-1 — 10-15-7) › Chapter 6B - GEORGIA POWER OF ATTORNEY ACT (§§ 10-6B-1 — 10-6B-81) › Article 2 - AUTHORITY OF AGENTS (§§ 10-6B-40 — 10-6B-56) › Section 10-6B-46 - 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 shall authorize 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.
Added by 2017 Ga. Laws 186,§ 2-1, eff. 7/1/2017.
2023 CODE OF GEORGIA › Title 10 - COMMERCE AND TRADE (§§ 10-1-1 — 10-15-7) › Chapter 6B - GEORGIA POWER OF ATTORNEY ACT (§§ 10-6B-1 — 10-6B-81) › Article 2 - AUTHORITY OF AGENTS (§§ 10-6B-40 — 10-6B-56) › Section 10-6B-47 - 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 shall authorize 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.
Amended by 2018 Ga. Laws 562,§ 10, eff. 5/8/2018.
Added by 2017 Ga. Laws 186,§ 2-1, eff. 7/1/2017.
2023 CODE OF GEORGIA › Title 10 - COMMERCE AND TRADE (§§ 10-1-1 — 10-15-7) › Chapter 6B - GEORGIA POWER OF ATTORNEY ACT (§§ 10-6B-1 — 10-6B-81) › Article 2 - AUTHORITY OF AGENTS (§§ 10-6B-40 — 10-6B-56) › Section 10-6B-49 - 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 shall authorize 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 which 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 Code section;
(10)
Apply for and procure a benefit or assistance under a law 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 such tax or assessment.
Added by 2017 Ga. Laws 186,§ 2-1, eff. 7/1/2017.
2023 CODE OF GEORGIA › Title 10 - COMMERCE AND TRADE (§§ 10-1-1 — 10-15-7) › Chapter 6B - GEORGIA POWER OF ATTORNEY ACT (§§ 10-6B-1 — 10-6B-81) › Article 2 - AUTHORITY OF AGENTS (§§ 10-6B-40 — 10-6B-56) › Section 10-6B-50 - Estates, trusts, and other beneficial interests

(a)
As used in this Code section, the term "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 shall authorize 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 any other 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, 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, 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)
Create, amend, and revoke a revocable trust so long as the terms of the trust only authorize distributions that would be allowable under the power of attorney if the principal held the trust assets outright and provide for the distribution of all trust assets to the principal's estate upon the principal's death;
(8)
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 or as described in paragraph (7) of this Code section; and
(9)
With respect to a bona fide dispute, consent to a reduction in or modification of a share in or payment from an estate, trust, or other beneficial interest.
Amended by 2018 Ga. Laws 562,§ 10, eff. 5/8/2018.
Amended by 2018 Ga. Laws 412,§ 16, eff. 7/1/2018.
Added by 2017 Ga. Laws 186,§ 2-1, eff. 7/1/2017.
2023 CODE OF GEORGIA › Title 10 - COMMERCE AND TRADE (§§ 10-1-1 — 10-15-7) › Chapter 6B - GEORGIA POWER OF ATTORNEY ACT (§§ 10-6B-1 — 10-6B-81) › Article 2 - AUTHORITY OF AGENTS (§§ 10-6B-40 — 10-6B-56) › Section 10-6B-51 - 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 shall authorize 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 any 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, 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 which affects an interest of the principal in property or any 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 any other thing of value paid in settlement of or as proceeds of a claim or litigation.
Added by 2017 Ga. Laws 186,§ 2-1, eff. 7/1/2017.
2023 CODE OF GEORGIA › Title 10 - COMMERCE AND TRADE (§§ 10-1-1 — 10-15-7) › Chapter 6B - GEORGIA POWER OF ATTORNEY ACT (§§ 10-6B-1 — 10-6B-81) › Article 2 - AUTHORITY OF AGENTS (§§ 10-6B-40 — 10-6B-56) › Section 10-6B-53 - Benefits from governmental programs or civil or military service

(a)
As used in this Code section, the term "benefits from governmental programs or civil or military service" means any benefit, program, or assistance provided under a law or regulation, including Social Security, medicare, and Medicaid.
(b)
Unless the power of attorney otherwise provides, language in a power of attorney granting general authority with respect to benefits from governmental programs or civil or military service shall authorize the agent to:
(1)
Execute vouchers in the name of the principal for allowances and reimbursements payable by the United States or a foreign government or by a state or political subdivision of a state to the principal, including allowances and reimbursements for transportation of the individuals described in paragraph (1) of subsection (a) of Code Section
10-6B-52
, and for shipment of their household effects;
(2)
Take possession and order the removal and shipment of property of the principal from a post, warehouse, depot, dock, or other place of storage or safekeeping, either governmental or private, and execute and deliver a release, voucher, receipt, bill of lading, shipping ticket, certificate, or other instrument for such purpose;
(3)
Enroll in, apply for, select, reject, change, amend, or discontinue, on the principal's behalf, a benefit or program;
(4)
Prepare, file, and maintain a claim of the principal for a benefit or assistance, financial or otherwise, to which such principal may be entitled under a law or regulation;
(5)
Initiate, participate in, submit to alternative dispute resolution, settle, oppose, or propose or accept a compromise with respect to litigation concerning any benefit or assistance the principal may be entitled to receive under a law or regulation; and
(6)
Receive the financial proceeds of a claim described in paragraph (4) of this subsection and conserve, invest, disburse, or use for a lawful purpose anything so received.
Added by 2017 Ga. Laws 186,§ 2-1, eff. 7/1/2017.
2023 CODE OF GEORGIA › Title 10 - COMMERCE AND TRADE (§§ 10-1-1 — 10-15-7) › Chapter 6B - GEORGIA POWER OF ATTORNEY ACT (§§ 10-6B-1 — 10-6B-81) › Article 2 - AUTHORITY OF AGENTS (§§ 10-6B-40 — 10-6B-56) › Section 10-6B-54 - Retirement plans

(a)
As used in this Code section, the term "retirement plan" means a plan or account created by an employer, the principal, or another individual to provide retirement benefits or deferred compensation of which such principal is a participant, beneficiary, or owner, including a plan or account under the following sections of the Internal Revenue Code:
(1)
An individual retirement account under Internal Revenue Code Section 408,
26 U.S.C. Section 408
, in effect on February 1, 2018;
(2)
A Roth individual retirement account under Internal Revenue Code Section 408A,
26 U.S.C. Section 408A
, in effect on February 1, 2018;
(3)
A deemed individual retirement account under Internal Revenue Code Section 408(q),
26 U.S.C. Section 408(q)
, in effect on February 1, 2018;
(4)
An annuity or mutual fund custodial account under Internal Revenue Code Section 403(b),
26 U.S.C. Section 403(b)
, in effect on February 1, 2018;
(5)
A pension, profit-sharing, stock bonus, or other retirement plan qualified under Internal Revenue Code Section 401(a),
26 U.S.C. Section 401(a)
, in effect on February 1, 2018;
(6)
A plan under Internal Revenue Code Section 457(b),
26 U.S.C. Section 457(b)
, in effect on February 1, 2018; and
(7)
A nonqualified deferred compensation plan under Internal Revenue Code Section 409A,
26 U.S.C. Section 409A
, in effect on February 1, 2018.
(b)
Unless the power of attorney otherwise provides, language in a power of attorney granting general authority with respect to retirement plans shall authorize the agent to:
(1)
Select the form and timing of payments under a retirement plan and withdraw benefits from a plan;
(2)
Make a rollover, including a direct trustee-to-trustee rollover, of benefits from one retirement plan to another;
(3)
Establish a retirement plan in the principal's name;
(4)
Make contributions to a retirement plan;
(5)
Exercise investment powers available under a retirement plan; and
(6)
Borrow from, sell assets to, or purchase assets from a retirement plan.
Amended by 2018 Ga. Laws 412,§ 22, eff. 7/1/2018.
Added by 2017 Ga. Laws 186,§ 2-1, eff. 7/1/2017.
2023 CODE OF GEORGIA › Title 10 - COMMERCE AND TRADE (§§ 10-1-1 — 10-15-7) › Chapter 6B - GEORGIA POWER OF ATTORNEY ACT (§§ 10-6B-1 — 10-6B-81) › Article 2 - AUTHORITY OF AGENTS (§§ 10-6B-40 — 10-6B-56) › Section 10-6B-55 - Taxes

Unless the power of attorney otherwise provides, language in a power of attorney granting general authority with respect to taxes shall authorize the agent to:
(1)
Prepare, sign, and file federal, state, local, and foreign income, gift, payroll, property, Federal Insurance Contributions Act, and other tax returns, claims for refunds, requests for extension of time, petitions regarding tax matters, and any other tax-related documents, including receipts, offers, waivers, consents, including consents and agreements under Internal Revenue Code Section 2032A,
26 U.S.C. Section 2032A
, in effect on February 1, 2018, closing agreements, and any power of attorney required by the Internal Revenue Service or other taxing authority with respect to a tax year upon which the statute of limitations has not run and the following 25 tax years;
(2)
Pay taxes due, collect refunds, post bonds, receive confidential information, and contest deficiencies determined by the Internal Revenue Service or other taxing authority;
(3)
Exercise any election available to the principal under federal, state, local, or foreign tax law; and
(4)
Act for the principal in all tax matters for all periods before the Internal Revenue Service, or other taxing authority.
Amended by 2018 Ga. Laws 412,§ 22, eff. 7/1/2018.
Added by 2017 Ga. Laws 186,§ 2-1, eff. 7/1/2017.
2023 CODE OF GEORGIA › Title 10 - COMMERCE AND TRADE (§§ 10-1-1 — 10-15-7) › Chapter 6B - GEORGIA POWER OF ATTORNEY ACT (§§ 10-6B-1 — 10-6B-81) › Article 2 - AUTHORITY OF AGENTS (§§ 10-6B-40 — 10-6B-56) › Section 10-6B-56 - Gifts

(a)
As used in this Code section, the term:
(1)
"For the benefit of" means a gift to a trust, an account under the Uniform Transfers to Minors Act, a tuition savings account or prepaid tuition plan as defined under Internal Revenue Code Section 529,
26 U.S.C. Section 529
, in effect on February 1, 2018, or an ABLE account as defined under Internal Revenue Code Section 529A,
26 U.S.C. Section 529A
, in effect on February 1, 2018.
(2)
"Gift splitting" means the election to have a gift treated as made one-half by the transferor and one-half by the spouse pursuant to Internal Revenue Code Section 2513,
26 U.S.C. Section 2513
, in effect on February 1, 2018.
(3)
"Section 2503(b) amount" means the federal gift tax exclusion under Internal Revenue Code Section 2503(b),
26 U.S.C. Section 2503(b)
, in effect on February 1, 2018, indexed for future years under the provisions in effect on February 1, 2018.
(b)
Unless the power of attorney otherwise provides, language in a power of attorney granting general authority with respect to gifts shall authorize the agent only to:
(1)
Make outright to, or for the benefit of, a person, a gift of any of the principal's property, including by the exercise of a presently exercisable general power of appointment held by the principal, in the following amounts, without regard to whether the federal gift tax exclusion applies to the gift;
(A)
If the principal is not married or is legally separated at the time of the gift, in an amount per donee not to exceed the Section 2503(b) amount; or
(B)
If the principal is married and not legally separated at the time of the gift, in an amount per donee not to exceed twice the Section 2503(b) amount; and
(2)
Consent to gift splitting if the principal has a spouse for purposes of gift splitting.
(c)
An agent may make a gift of the principal's property only as the agent determines is consistent with the principal's objectives if actually known by the agent and, if unknown, as the agent determines is consistent with the principal's best interest based on all relevant factors, including:
(1)
The value and nature of the principal's property;
(2)
The principal's foreseeable obligations and need for maintenance;
(3)
Minimization of taxes, including income, estate, inheritance, generation-skipping transfer, and gift taxes;
(4)
Eligibility for a benefit, a program, or assistance under a law or regulation; and
(5)
The principal's personal history of making or joining in making gifts.
Amended by 2018 Ga. Laws 412,§ 18, eff. 7/1/2018.
Added by 2017 Ga. Laws 186,§ 2-1, eff. 7/1/2017.