[§551E-10]  Agent's duties.  (a) 

Notwithstanding provisions in the power of attorney, an agent that has accepted

appointment shall:

     (1)  Act in accordance with the principal's reasonable

expectations to the extent actually known by the agent and, otherwise, in the

principal's best interest;

     (2)  Act in good faith; and

     (3)  Act only within the scope of authority granted in

the power of attorney.

     (b)  Except as otherwise provided in the power

of attorney, an agent that has accepted appointment shall:

     (1)  Act loyally for the principal's benefit;

     (2)  Act so as not to create a conflict of interest

that impairs the agent's ability to act impartially in the principal's best

interest;

     (3)  Act with the care, competence, and diligence

ordinarily exercised by agents in similar circumstances;

     (4)  Keep a record of all receipts, disbursements, and

transactions made on behalf of the principal;

     (5)  Cooperate with a person that has authority to

make health care decisions for the principal to carry out the principal's reasonable

expectations to the extent actually known by the agent and, otherwise, act in

the principal's best interest; and

     (6)  Attempt to preserve the principal's estate plan,

to the extent actually known by the agent, if preserving the plan is consistent

with the principal's best interest based on all relevant factors, including:

         (A)  The value and nature of the principal's

property;

         (B)  The principal's foreseeable obligations

and need for maintenance;

         (C)  Minimization of taxes, including income,

estate, inheritance, generation-skipping transfer, and gift taxes; and

         (D)  Eligibility for a benefit, a program, or

assistance under a statute or regulation.

     (c)  An agent that acts in good faith shall not

be liable to any beneficiary of the principal's estate plan for failure to

preserve the plan.

     (d)   An agent that acts with care, competence,

and diligence for the best interest of the principal shall not be liable solely

because the agent also benefits from the act or has an individual or

conflicting interest in relation to the property or affairs of the principal.

     (e)  If an agent is selected by the principal

because of special skills or expertise possessed by the agent or in reliance on

the agent's representation that the agent has special skills or expertise, the

special skills or expertise shall be considered in determining whether the

agent has acted with care, competence, and diligence under the circumstances.

     (f)   Absent a breach of duty to the principal,

an agent shall not be liable if the value of the principal's property declines.

     (g)  An agent that exercises authority to

delegate to another person the authority granted by the principal or that

engages another person on behalf of the principal shall not be liable for an

act, error of judgment, or default of that person if the agent exercises care,

competence, and diligence in selecting and monitoring the person.

     (h)  Except as otherwise provided in the power

of attorney, an agent shall not be required to disclose receipts,

disbursements, or transactions conducted on behalf of the principal unless

ordered by a court or requested by the principal, a guardian, a conservator,

another fiduciary acting for the principal, a governmental agency having

authority to protect the welfare of the principal, or, upon the death of the

principal, by the personal representative or successor in interest of the

principal's estate.  If so requested, within thirty days the agent shall comply

with the request or provide a writing or other record substantiating why additional

time is needed and shall comply with the request within an additional thirty

days. [L 2014, c 22, pt of §1]