reglab/statecodes huggingface dataset:
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 Code of Virginia › Title 64.2 - Wills, Trusts, and Fiduciaries › Chapter 16 - Uniform Power of Attorney Act › § 64.2-1625. Real property

Unless the power of attorney otherwise provides, language in a power of attorney granting general authority with respect to real property authorizes 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 that 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 them; 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, 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.
2010, cc. 455, 632, § 26-98; 2012, c. 614.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 Code of Virginia › Title 64.2 - Wills, Trusts, and Fiduciaries › Chapter 16 - Uniform Power of Attorney Act › § 64.2-1634. Personal and family maintenance

A. Unless the power of attorney otherwise provides, language in a power of attorney granting general authority with respect to personal and family maintenance authorizes the agent to:
1. Perform the acts necessary to maintain the customary standard of living of the principal, the principal's spouse, and the following individuals, whether living when the power of attorney is executed or later born:
a. The individuals legally entitled to be supported by the principal; and
b. The individuals whom the principal has customarily supported or indicated the intent to support;
2. Make periodic payments of child support and other family maintenance required by a court or governmental agency or an agreement to which the principal is a party;
3. Provide living quarters for the individuals described in subdivision 1 by:
a. Purchase, lease, or other contract; or
b. Paying the operating costs, including interest, amortization payments, repairs, improvements, and taxes, for premises owned by the principal or occupied by those individuals;
4. Provide normal domestic help, usual vacations and travel expenses, and funds for shelter, clothing, food, appropriate education, including postsecondary and vocational education, and other current living costs for the individuals described in subdivision 1;
5. Pay expenses for necessary health care and custodial care on behalf of the individuals described in subdivision 1;
6. 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, in making decisions related to the past, present, or future payment for the provision of health care consented to by the principal or anyone authorized under the law of the Commonwealth to consent to health care on behalf of the principal;
7. Continue any provision made by the principal for automobiles or other means of transportation, including registering, licensing, insuring, and replacing them, for the individuals described in subdivision 1;
8. Maintain credit and debit accounts for the convenience of the individuals described in subdivision 1 and open new accounts; and
9. Continue payments incidental to the membership or affiliation of the principal in a religious institution, club, society, order, or other organization or to continue contributions to those organizations.
B. Authority with respect to personal and family maintenance is neither dependent upon, nor limited by, authority that an agent may or may not have with respect to gifts under this chapter.
2010, cc. 455, 632, § 26-107; 2012, c. 614.
2023 Code of Virginia › Title 64.2 - Wills, Trusts, and Fiduciaries › Chapter 16 - Uniform Power of Attorney Act › § 64.2-1635. Benefits from governmental programs or civil or military service

A. In this section, "benefits from governmental programs or civil or military service" means any benefit, program, or assistance provided under a statute or regulation including, but not limited to, Social Security, Medicare, Medicaid, and the Department of Veterans Affairs.
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 authorizes 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 subdivision of a state to the principal, including allowances and reimbursements for transportation of the individuals described in subdivision A 1 of § 64.2-1634 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 that 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 the principal may be entitled under a statute or regulation;
5. Initiate, participate in, submit to alternative dispute resolution of, 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 statute or regulation; and
6. Receive the financial proceeds of a claim described in subdivision 4 and conserve, invest, disburse, or use for a lawful purpose anything so received.
2010, cc. 455, 632, § 26-108; 2012, c. 614.
2023 Code of Virginia › Title 64.2 - Wills, Trusts, and Fiduciaries › Chapter 16 - Uniform Power of Attorney Act › § 64.2-1636. Retirement plans

A. In this section, "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 the 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 26 U.S.C. § 408, as amended;
2. A Roth individual retirement account under Internal Revenue Code 26 U.S.C. § 408A, as amended;
3. A deemed individual retirement account under Internal Revenue Code 26 U.S.C. § 408 (q), as amended;
4. An annuity or mutual fund custodial account under Internal Revenue Code 26 U.S.C. § 403 (b), as amended;
5. A pension, profit-sharing, stock bonus, or other retirement plan qualified under Internal Revenue Code 26 U.S.C. § 401 (a), as amended;
6. A plan under Internal Revenue Code 26 U.S.C. § 457 (b), as amended; and
7. A nonqualified deferred compensation plan under Internal Revenue Code 26 U.S.C. § 409A, as amended.
B. Unless the power of attorney otherwise provides, language in a power of attorney granting general authority with respect to retirement plans authorizes 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.
2010, cc. 455, 632, § 26-109; 2012, c. 614.